In defence of Elon Musk’s managerial excellence
The Tesla CEO’s track record proves he’s a pre-eminent builder of companies and maximizer of shareholder value
For all the histrionics, from the 2018 tweet ‘he posted about taking Tesla private’ for which he incurred a $20 million fine from the US Securities and Exchange Commission to weed smoking during a podcast, and his latest offer to buy Twitter for $43 billion, Elon Musk is a lovely good business manager. In fact, the chief executive officer of the world’s most useful automaker has no equal.
Among the ten largest publicly-traded companies, Musk’s Tesla Inc. is No. 1 in growth over the past decade with revenue growing more than 260-fold to $53.8 billion; No. 1 the past 12 months with sales surging 71 percent; No. 1 in share performance over five and 10 years with its stock appreciating 15- and 146-fold, respectively, to a current $1,000; and No 1 in employment by more than quintupling its workforce since 2016, according to data collected by Bloomberg.
An international ravage through climate change added on in component through the overuse of fossil fuels makes electric-car maker Tesla an increasing number of the selection of fleet operators due to the minimum gasoline and protection prices of its zero-emission cars. That’s a massive motive why Austin, Texas-primarily based totally Tesla’s income boom could be No 1 subsequent year (30 percent) and once more in 2024 (18 percent), in step with the median estimate of 33 analysts surveyed through Bloomberg.
Tesla, unlike its peers, has weathered the dislocations caused first by the pandemic and then the war in Ukraine by spending years focusing on propping up its supply chain. That’s a big reason Tesla was able to report record first-quarter deliveries earlier this month, despite all the announcements. described as an “extraordinarily difficult” period marked by recurring outages, most notably the shutdown of the Shanghai plant.
His success in sourcing materials was evident when on January 1, Tesla agreed to purchase 75,000 tons of nickel concentrate, an essential ingredient in electric vehicle batteries, through a Talon Metals Corp. founded Minnesota project less than six months after acquiring a similar nickel supply agreement with Melbourne, Australia-based miner BHP Group Ltd. Tesla also has a multi-year nickel supply deal with Rio de Janeiro-based Vale SA, Bloomberg News reported last month.