Investors slashed $50 billion from Tesla's market value on Tuesday after CEO Elon Musk promised to cut electric vehicle costs so radically that a $25,000 car that drives itself will be possible -- but not for at least another three years. Gloria Tso reports.
CEO Elon Musk on Tuesday outlined Tesla's plans to cut electric vehicle battery design and manufacturing costs at an outdoor version of its shareholders meeting as about 240 shareholders watched, sitting in a Tesla Model 3 in the company parking lot.
The wealth of 643 of US' richest billionaires rose from $2.95 trillion to $3.8 trillion between March 18 and September 15. This marks a 29% increase over those six months. That's according to a report by the Institute for Policy Studies and Americans for Tax Fairness said. Tesla founder Elon Musk's wealth increased by 273% in the period to $92 billion. Jeff Bezos wealth increased 64.8%, from $113 billion to $182. Mark Zuckerberg's wealth increased from $54 billion to $100.