Tesla is an American electric vehicle and energy company that produces and sells electric vehicles, solar panels, and energy storage equipment. Palo Alto, based in Silicon Valley, California, was first founded in 2003 by MarTIn Eberhard and Marc Tarpenning, 2004 Elon Musk (Elon Musk) entered the company and led the A round of financing. The founder named the company "Tesla Motors" to commemorate the physicist Nikola Tesla.
On November 20th, Bob Lutz, former vice chairman of General Motors, said last week that Tesla is a "failed company" that will not last long and will not live until 2019. He explained that Tesla's current problems include uncontrolled fixed costs, inefficient production, and a lack of dealer networks. Lutz also pointed out that everything that Tesla currently has can be easily copied by other car companies.
Just a few days ago, Tesla shareholders approved the huge compensation plan of CEO Elon Musk, which means that Musk will have more than $50 billion in the next 10 years.
Let's take a look at this figure: $5 billion in annual salary, Musk is higher than every CEO in the S&P 500. In other words, if you add the salary of the CEO of the top 500 companies in the United States, his annual income will be less than $5 billion a year.
Considering that Tesla’s financial report for the fourth quarter of 2017 pointed out that Musk “has not put all his time and attention on Teslaâ€, this huge salary is quite shocking.
More importantly, under Musk's leadership, Tesla's long-term financial “management misconduct†has brought more than $4.97 billion in operating losses to its shareholders. Or, the company has been under investigation by the US Securities and Exchange Commission (only Musk is not willing to disclose this fact to shareholders).
All in all, Musk’s salary will be rare in history and the biggest reward ever. Then, behind the finances, it hinted at the huge crisis of Tesla.
Here quotes Chicago value investor and chief investment officer of Vilas Capital Management, John? The words of John Thompson confirm this.
Thompson is one of the few hedge fund managers who have outperformed the market, and his fund is betting on Tesla. Here are some of his articles about Tesla:
“I think Tesla will close in the next 3-6 months... partly because it can't manufacture and deliver the Model 3 model, in part because the market's demand for Model S and Model X is declining, in part because of extreme valuations. Part of the reason is that Moody's has positioned Tesla Bonds as CCC, which has allowed parts and components partners to ask Tesla to pay for the products, in part because of the recent decline in Tesla's preference, partly because we suspect Tes There are financial frauds, and Tesla recently had two financial generals leaving...
There is no doubt that Tesla is on the verge of bankruptcy.
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