While Shares of Tesla Motors Inc (TSLA) & SolarCity Corp (SCTY) Decline, SpaceX is Keeping Musk Upbeat


Tesla Motors Inc (NASDAQ:TSLA), SolarCity Corp (NASDAQ:SCTY) and SpaceX are companies that operate in three different industries. Still, it’s rare that someone talks about any one of them and doesn’t mention the man behind these companies, Elon Musk. While SpaceX is private, Tesla Motors Inc (NASDAQ:TSLA) and SolarCity Corp (NASDAQ:SCTY) are publicly traded companies and every move that these companies make, is attributed to Musk. When shares of Tesla Motors Inc (NASDAQ:TSLA) and SolarCity Corp (NASDAQ:SCTY) tanked recently, Business Insider came up with an article describing how this affects Musk.

Tesla, is Tesla a good stock to buy, upgrade, Deutsche Bank, buy

Tesla Motors Inc (NASDAQ:TSLA) made its all time high of $291 on September 4 and since then its stock is down almost 14%, whereas SolarCity Corp (NASDAQ:SCTY) made its all time high of $76 on September  12 and since then its stock is down almost 20%.

Musk owns over 33 million shares of Tesla Motors Inc (NASDAQ:TSLA) and is also its CEO, he is the Chairman of SolarCity Corp (NASDAQ:SCTY) in which he owns nearly 21 million shares. According to the article, Musk’s total net worth is estimated around $10 billion and the declines that shares of these two companies have witnessed in September has resulted in eroding 17% of Musk’s net worth.

Well, all is not gloomy for Musk this September, the private space company that he founded SpaceX has won NASA’s $2.6 billion contract for building a capsule that can carry astronauts to space. SpaceX is building its own launching facility in the state of Texas and also got a major success when a rocket it designed had a successful blast-off last week.

As of June 30, 2014, Daniel Benton’s Andor Capital Management owns 1.25 million shares in Tesla Motors Inc (NASDAQ:TSLA) and Kenneth Tropin’s Graham Capital Management owns 27 million shares in SolarCity Corp (NASDAQ:SCTY).

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.


Suggested Articles:

Most Expensive Headphones

Most Expensive Jewelry Brands