Mahindra Group chairman Anand Mahindra is known for being active on social media and he has been in the news several times for the same. This time around Anand Mahindra had shared his views on Bloomberg’s Billionaires Index report where Elon Musk had acquired the topmost position. Like many other matters in the past, Anand Mahindra took this matter to twitter and shared his views. He congratulated Tesla and SpaceX CEO Elon Musk on this achievement. According to the index, Elon Musk’s net worth is now a whopping $243 billion which is equal to the net worth of Microsoft founder Bill Gates and veteran stock market investor Warren Buffett combined.
Market value is now not a multiple of current earnings but a multiple of Audacity, Ambition & Courage. Rightly, that is a formula that promises outsize future earnings… https://t.co/EAEBB45Zpj
— anand mahindra (@anandmahindra) October 19, 2021
Anand Mahindra’s twitter post said, “Market value is now not a multiple of current earnings but of Audacity, Ambition, and Courage. Rightly, that is a formula that promises outsize future earnings.” The tweet is already being circulated in social media and has got thousands of likes and shares.
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The index stated that of the $243 billion, $148 billion were generated from Tesla US equity, $40.3 billion from private assets namely Space Exploration Technologies Corporation and remaining $6.30 billion were from miscellaneous liabilities. It also stated that Elon Musk’s net worth is equivalent to 1.16 percent of United States’ GDP and 2.89 percent of total wealth of 500 richest people around the world.
Anand Mahindra’s tweet appreciated Elon Musk’s innovative ideas that has helped him achieve this milestone. This is not the first time Anand Mahindra has supported or tweeted about Elon Musk. Earlier Elon Musk had tweeted about how production of cars is hard as most of the large manufacturers sell their cars at low to zero margin. He tweeted, “Production is hard. Production with positive cash flow is extremely hard.”
he also explained in the tweet that most of the manufacturers make profit by selling replacement parts. he said, “Large incumbent carmakers sell their cars at low to zero true margin. Most of their profit is selling replacement parts to their fleet, of which 70 per cent to 80 per cent are past warranty. Like razors and blades. New car companies lack this advantage. Also lack sales and services infrastructure.”
This is a challenge faced by car manufacturers all around the world and Anand Mahindra agreed to this and tweeted, “You said it, Elon Musk and we’ve been doing that for decades now. Still sweating and slaving away at it. It’s our way of life….”
Coming back to Tesla, the brand announced earlier this year that they will be officially entering the Indian market. The brand registered their office in Karnataka and the test mules have also been spotted testing on our roads several times. Tesla is testing Model 3 and Model Y for Indian market. The launch of these models got delayed after they found out that the ground clearance for Model 3 was not sufficient for Indian road conditions.
Tesla will be offering the entry level models in India because of the price. Tesla’s will be sold in India and CBUs and they will be a lot more expensive than international markets due to high import duties. Tesla is in discussion with the government to lower the import duties on EV to promote the use of electric vehicles in the country.
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