It’s hard to read a news feed without seeing an article about Elon Musk. Mr. Musk is now the richest dude on the planet, according to Forbes. His $200 billion-dollar fortune knocked Jeff Bezos off the capitalistic throne. Jeff and Elon’s fortune number changes frequently. Tesla stock is hot on Wall Street right now, and the value increase gave Elon enough money on paper to be the new king of the tech world.
Elon Musk and Jeff Bezos are at odds at the moment. Mr. Bezos filed lawsuits to slow down Mr. Musk’s space program, according to the New York Times. Bezos owns Blue Origin, and Elon owns SpaceX. SpaceX signed a multi-billion-dollar contract with NASA to help send humans back to the Moon. And SpaceX is also in the process of launching satellites that can provide global internet service.
Mr. Bezos claims the configuration of the SpaceX satellites has issues. Plus, Bezos wants Blue Origin to get a piece on the Moon landing mission. Even though he used his influence in Washington to make that happen, NASA is still team SpaceX. Mr. Musk told Bezos he needs to spend more time managing Blue Origin rather than filing frivolous lawsuits.
Mr. Musk gets his thoughts across on Twitter. He likes to shake up the status quo. He co-founded PayPal, and that had an impact on the credit card industry. He also founded Tesla, the electric vehicle company, and that investment changed the auto industry. Electric vehicles are the future. Tesla wants to keep leading the auto industry in tech advancements.
Electric vehicle manufacturing is on fire around the world. Musk told the press China’s electric auto-making abilities rival other automakers, especially when it comes to vehicle tech advancements. Musk calls China a leader in digitalization. Tesla has a huge Chinese consumer base. But companies like Lucid and Huawei are in the process of taking market share away in China, the largest consumer market in the world.
Tesla plans to expand its presence in China even though U.S. and Chinese officials still have trade issues. During a pre-recorded question-and-answer streaming session at the World Internet Conference, Musk said he plans to invest heavily in China. He also said China is the most competitive country in the world. The Chinese mission is to supply all sectors of its economy with the latest digital technology, and that investment will be an economic growth game-changer.