Tesla, the electric car brand that once drove countless people crazy, has recently encountered an unprecedented crisis. Tesla's stock price was on March 4 at **72%, and the market value evaporated by 46.1 billion US dollars, or about 332.3 billion yuan, overnight. Such a decline has caused Tesla's founder and CEO Elon Musk's net worth to shrink from the highest point of $209 billion in January 2023 to $197.7 billion, surpassed by Amazon founder Bezos with $200.3 billion, losing the throne of the world's richest man.
This is the first time in more than 9 months that Musk has slipped as the world's richest man, and it is also the first time that the 60-year-old Bezos has become the world's richest man since 2021. Bezos announced in August 2021 that he was stepping down as CEO of Amazon and moving to executive chairman to focus on his space exploration company, Blue Origin, and philanthropy. Bezos' net worth was affected by his divorce deal with his ex-wife Mackenzie in late 2021, when he transferred a quarter of his Amazon stake to her, making her the richest woman in the world. However, Bezos' net worth recovered quickly in 2022, thanks to Amazon's strong performance and share price during the pandemic**.
The battle for wealth between Musk and Bezos reflects not only their respective business achievements, but also their differences in business ideas and styles. Musk is a passionate and creative entrepreneur who not only leads Tesla, but also founded space exploration technology company SpaceX and neurotechnology company Neuralink, which are committed to realizing interstellar migration and human brain interfaces. Musk's net worth grew significantly in 2022, mainly because Tesla's stock price soared 700% that year, making Tesla the most valuable car company in the world, even more than traditional giants such as Toyota and Volkswagen combined. Tesla's share price** is supported by its technology leadership and brand influence in the field of electric vehicles, as well as its expansion and growth in emerging markets such as China. Musk is also a marketing guru who is adept at using social ** and the public **, and he often tweets all kinds of bold statements and plans, which have sparked countless attention and discussions.
Bezos is a more stable and pragmatic entrepreneur, he founded Amazon, which has grown from a first-class bookstore to the world's largest e-commerce platform and cloud computing service provider, and has also been involved in artificial intelligence, digital entertainment, logistics, medical and other fields. Bezos' business philosophy is to be customer-centric, constantly innovating and improving the user experience, while also focusing on long-term investment and returns, not affected by short-term market fluctuations and **. Bezos is also a low-key and cautious leader who rarely expresses his personal opinions and feelings on social ** and rarely engages in public controversies and debates.
Tesla's market value evaporated overnight, exposing the many challenges and risks it faces. On the one hand, Tesla's sales have declined in China, one of its largest markets, and have been hit by local rivals. Tesla's wholesale sales in February 2024 were 60,365 units, down 19% year-on-year and the lowest since December 2022, according to the Passenger Car Association. Chinese NEV manufacturers such as BYD saw significant growth over the same period, with BYD's wholesale sales reaching 121748 units, more than twice as much as Tesla's. On the other hand, Tesla's product quality and safety have also been questioned, and there have been many recent accidents such as spontaneous combustion, loss of control, and collisions of Tesla vehicles, which have aroused consumer concern and dissatisfaction. Tesla is also facing regulatory and legal pressure, with its self-driving system in the U.S. allegedly misleading consumers, and its data security in China also attracting attention.
Tesla's crisis also gave Musk a chance to reflect and adjust. Musk needs to revisit Tesla's strategy and positioning, as well as its competitive advantages and disadvantages in the global market. Musk also needs to pay more attention to Tesla's product quality and safety, as well as its communication and cooperation with consumers, ** and other parties. Musk also needs to be more rational and cautious in his use of social **and public**, avoiding excessive hype and publicity, as well as unnecessary disputes and misunderstandings. Musk should learn from Bezos and focus more on Tesla's core business and long-term development, rather than over-pursuing short-term wealth and reputation.
Tesla is a great innovator and disruptor who has changed the landscape and future of the automotive industry. Tesla is also a company with a strong vision and mission to drive sustainable development and progress for humanity. Tesla's crisis is not necessarily the beginning of its decline, but also an opportunity for its transformation and upgrading. Tesla's future depends on Musk's choices and actions. As long as Musk insists on technological innovation and unswervingly develops technology, he will definitely return to the first.
Hotspot Engine Program