Latest / Elon Musk Podcast / Elon Musk's net worth skyrockets nearly $11 billion

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Elon Musk's net worth skyrockets nearly $11 billion · Elon Musk Podcast

• 0:00
  Tesla, CEO. Elon Musk has identified Chinese
• 0:03
  companies as the biggest Challenger to his electric car
• 0:05
  giant during a recent earnings call.
• 0:08
  And despite the company reporting record Revenue,
• 0:11
  investors have been worried about musk spreading himself
• 0:13
  too. Thin with the acquisition of
• 0:15
  Twitter and his legal issues. The electric vehicle industry in
• 0:19
  China is booming with the market accounting, for two-thirds of EV
• 0:24
  demand last year and Chinese car maker byd which is backed by
• 0:29
  Warren Buffett. It raced past Tesla in electric
• 0:32
  car sales in China last year. Now, Tesla has been losing
• 0:35
  ground in China and China makes up about 40% of Tesla sales
• 0:40
  demand. For EVS.
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  In China is huge with a record six million electric vehicles
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  being sold in China last year accounting for over a quarter of
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  new vehicle sales. Chinese electric car companies
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  are rising to meet Demand with around 300 EV manufacturing
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  companies, operating in China last year and the Chinese
• 1:00
  Vermont has invested heavily in the industry over the past,
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  decade the over 4 million charging stations spread
• 1:06
  throughout the cover of trees provinces three times.
• 1:09
  As many as the entire us EV subsidies were initially
• 1:12
  intended for electric cars to reach price, parity with
• 1:16
  combustion, engine vehicles, in the sector has matured and
• 1:19
  diversified in the decade since they were first implemented
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  subsidies for consumers, were scaled back in 2021, in
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  scrapped, on January 1st of 2023.
• 1:29
  But some tax exemptions remain in place.
• 1:32
  While industry analysts have forecasted, the industry will
• 1:35
  become more Market than policy-driven in the coming
• 1:39
  years musk has praised Chinese, automakers in the past, calling
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  them the most competitive in the world while adding the Chinese
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  electric car makers, most advanced software designs that
• 1:50
  could quote shape the future of the automobile industry.
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  However, they also represent an enormous threat to test those
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  waning power, as demand for Vehicles.
• 2:00
  Softens in China at Tesla is lowered car prices.
• 2:03
  In China, twice in the past few months.
• 2:06
  Once the Chinese government remove its EV subsidies to prop
• 2:09
  up sales amid slowing demand and the company has since cut prices
• 2:14
  in the US and other markets to. Now despite the increased
• 2:18
  competition from China's domestic, automakers, Elon Musk
• 2:22
  is optimistic about Teslas, future suggesting during the
• 2:26
  earnings call that the price Cuts seemed to have worked.
• 2:29
  Given Tesla's record, profits last quarter and adding that the
• 2:33
  outlook for demand in the year ahead was optimistic, despite
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  quote probably a contradiction in the automotive Market as a
• 2:42
  whole and Bloomberg nef analysis.
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  Forecasted Tesla sales to grow by 40% in 2023.
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  While it's in demand model. Why car could become the
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  best-selling EV in the world and even break into the top three
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  cars of any type. Type globally.
• 3:01
  However, increased competition from China's domestic.
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  Automakers might make it more difficult for Tesla to maintain
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  its dominant position in the global electric vehicle Market.
• 3:13
  Elon Musk also highlighted, the continued growth of Tesla's own
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  EV sales and stated that the company has been seeing record
• 3:21
  Revenue in the first few weeks of January.
• 3:24
  He attributed the success to recent price Cuts worldwide and
• 3:27
  stated that demand for Tesla's EVS is stronger than ever.
• 3:31
  However, the Chinese EV Market is rapidly growing and
• 3:35
  represents a significant challenge to Tesla despite the
• 3:38
  challenges musk remains confident in Tesla's ability to
• 3:41
  compete in. The Chinese market, he stated
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  that the company is working hard to improve its supply chain and
• 3:47
  production capabilities in China and that he believes Tesla's.
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  Advanced software designs will give it a Competitive Edge over
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  Chinese manufacturers. While the competition from
• 3:57
  Chinese TV manufacturers is certainly a challenge for Tesla,
• 4:01
  the company's strong financial performance and continued growth
• 4:04
  in EV demand suggest that it's a well positioned to compete in
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  the global EV Market as the industry continues to Evolve an
• 4:13
  EV technology improves. It will be interesting to see
• 4:16
  how Tesla and other manufacturers adapt and compete
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  in the years to come. Now must also mention that Tesla
• 4:23
  is working on, developing more advanced and Innovative, EV
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  Technologies such as self-driving, cars and battery
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  storage systems, which he believes will give the company a
• 4:33
  significant advantage over his competitors.
• 4:36
  Furthermore, He also mentioned that the company has been
• 4:38
  working on developing its own Battery Technology, which he
• 4:41
  believes will I'll be able to achieve high energy density and
• 4:45
  longer battery life than current EV Batteries.
• 4:48
  Now the EV Market is rapidly evolving and becoming
• 4:51
  increasingly competitive with Chinese manufacturers
• 4:54
  representing a significant challenge for Tesla in the
• 4:56
  future. Now despite this Tesla strong
• 4:59
  financial performance and continued growth in EV demand
• 5:03
  suggest that the company is well positioned to compete in the
• 5:06
  global EV Market with a company's focus on developing
• 5:10
  more advanced and Innovative EV Technologies.
• 5:12
  Likely, the Tesla will continue to be a major player in the EV
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  industry in the years to come. This is the 214th episode of the
• 5:20
  Elon Musk podcast. I want to say thank you to
• 5:22
  everybody who's been supporting the show since day one,
• 5:25
  everybody is been amazing and the community is growing
• 5:29
  rapidly. So please, if you want to join
• 5:31
  the community, hit the Subscribe button on, whatever podcast
• 5:34
  platform that you're on, and we're going to continue
• 5:36
  reporting on everything, Elon Musk in the future for you,
• 5:40
  Tesla and SpaceX CEO, Elon Musk Has seen a significant increase
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  in his net worth as his fortune sword by ten point six billion
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  dollars to one hundred and forty five point two billion dollars
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  since he testified in court on Friday.
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  And according to Bloomberg billionaires Index.
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  This marks the largest two-day gain since November, the Surge,
• 6:02
  and musk's wealth comes after, he was sued by Tesla
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  shareholders for a tweet. He posted in 2018, where you
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  claim to have quote, funding secured to take the company
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  private And $420 per share. However, the deal never happened
• 6:17
  and investors are now suing musk for billions of dollars in
• 6:19
  Damages. In court must defended this
• 6:22
  tweet stating that it was not a joke and that he believed he had
• 6:25
  secured funding from Saudi Arabia's investment fund.
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  He also claimed that a major Saudi Arabian, investor backed
• 6:32
  out of the deal in. Blame them for a quote
• 6:34
  backpedaling, and quote ass-covering musk also testified
• 6:39
  that he planned on selling SpaceX stock to take Tesla
• 6:41
  private He posted the Tweet SpaceX stock alone, meant quote,
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  funding secured by itself. He said this recent increase in
• 6:48
  wealth almost makes up for musk's loss of 13 billion
• 6:52
  dollars in 2023 in 2022, he became the first and only person
• 6:56
  in history to lose 200 billion dollars from their net worth.
• 7:02
  Now, much of musk's wealth is tied up in Tesla shares which
• 7:06
  had a difficult year in 22, falling, almost 70 percent.
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  As investors question must commitment to the company.
• 7:12
  The following his forty four billion dollar Twitter by app.
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  Isn't that worth has now fallen about 195 billion dollars from
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  its peak according to Bloomberg okay some quick news about
• 7:24
  Starship before we leave here for today.
• 7:27
  So on Monday, January 30th, Tuesday January 31st and
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  Wednesday February 1st 2023. It looks like booster 7 will be
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  doing some testing before the static fire of 33.
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  Or two engines now recently, they removed ship 24 from the
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  top of booster seven and they moved it back to the Rocket
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  Garden at Starbase production facility.
• 7:52
  Now, if you're not familiar with the Rocket Garden is, it's
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  basically a place where they can put spare Rockets or older
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  Rockets to display for the public.
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  You can walk down the road and get probably about 40 feet away
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  from these Rockets. It's a massive, massive, awesome
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  thing. If you've never been there in
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  real life, Take some time and please go check it out.
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  If you're in the Texas area, it's an amazing thing to see.
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  Now, what they're going to be doing with this static fire, 33
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  Raptor, two engines. This is going to be an immense
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  Challenge. And what I think is going to
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  happen with the in the next week or two, is that they're going to
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  go through all of the propulsion systems for the rocket itself.
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  For the booster, they're going to check every single rocket
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  engine out before they do the static fire.
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  And they may do a smaller static fire to test some of the engines
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  before the 33 engine, static fire to test out some of the
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  systems. But I think there's a
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  possibility that they just go for it because they've had an 11
• 8:55
  engine static fire in a 14 engine, static fire.
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  And there's sort of a, there's sort of an in between like a 26
• 9:02
  or something like that. But I think, what's it going to
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  do is we're going to go full out 33 engine static fire but also
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  between 8 a.m. and 8 p.m. on Monday and Tuesday, they Maybe
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  transporting something for the water Deluge system for the
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  water Deluge system. For the Starbase facility is a
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  way for them to quiet down. Basically, this rocket blast is
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  going to happen down there and it's the water.
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  If you've ever seen a rocket launch all of the smoke plume
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  from underneath, the rocket isn't quite smoke.
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  It's more more Vapor than anything because the rocket
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  engines hit a billion gallons MIT.
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  Possibly you know, million to a billion gallons of water.
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  Water anywhere in between there. And it basically comes down the
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  engines and stops them from rattling, the whole system and
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  shaking everything loose but also it deters.
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  The the rocket engines from burning up the ground and the,
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  the ground systems around the rocket launch area.
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  Now, if you've never seen the Starship fully stacked, I
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  suggest you check out spacex's Twitter account at SpaceX
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  because they have some beautiful.
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  For photos of the scroll back a couple days, you'll see them and
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  you'll see this fully stacked. Josh tip its 395 feet tall about
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  five 400 feet, tall the ship. On top is about 150 feet tall.
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  The booster down below is 250 feet tall and the booster alone
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  by itself is a massive thing with 33 Raptor engines.
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  It's the most powerful rocket that's ever been built in will
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  ever be built for a very long time.
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  So this Is going to do some damage to the surrounding area
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  and SpaceX has to make sure that this water Deluge system is in
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  place before they actually do the launch.
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  So I believe this 8 a.m. to 8 p.m. road closure, could be to
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  transport some Hardware that they're getting from Florida to
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  the Boca Chica Beach area in the Starbase area because the trucks
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  come into the port of Brownsville and they have a road
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  a little side road that ends up on Highway 4 and they have to
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  move these Pretty, pretty big amount of pipes, and tanks, down
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  to the Starbase area. So they have to close down that
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  whole Road, it sometimes, so they can move those things
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  through. So they have to make sure that
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  the public safe and that the workers are safe.
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  So they have a 12-hour window to work with to move those things
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  into place. And once they move those things
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  in a place, the the road closure will be lifted.
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  So I believe that's what they're going to be doing over the next
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  few days. And if they can't get it done
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  Monday, they'll do it Tuesday. And if they can't get that on
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  Tuesday, they'll do it Wednesday.
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  But I I believe they're going to do them all in one day and
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  hopefully it'll get them through on Monday and these alternative
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  dates for Tuesday and Wednesday, they won't need them.
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  So the next Starbase update, well I'll let you know when we
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  get more information about it, but I'll be covering it as soon
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  as I get something from the Starbase facility.
• 12:00
  I have some friends down there, I used to live down there.
• 12:02
  So I'm going to try to get some Insider information for you.
• 12:06
  And if you want to help out the show, even more than you already
• 12:08
  have by listening to this episode go to Stage 0 and check
• 12:15
  us out. This is where I'm going to start
• 12:17
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• 12:20
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• 12:21
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• 12:24
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• 12:27
  see you in the next episode. Take care everybody.