9781422270370

As a team, they contributed to early mission statements and visioning, but by 2006, a year before Eberhard stepped down as CEO, Musk led the mission and vision development. Today, the company’s mission statement carries his byline. Musk owns a controlling interest in Tesla, with 21.7 percent of the shares, while other major shareholders own less than 10 percent each, including the investment firms Baillie Gifford & Co. with 7.7 percent, FMR LLC with 5.3 percent, Capital Ventures International with 5.2 percent, T. Rowe Price Associates with 5.2 percent, and Capital World Investors with 5 percent. The only other individual with major shareholder status, Larry Ellison, owns 1.7 percent of the company. Ellison co-founded Oracle and serves as its CEO. In 2021, the last full year of data, Tesla generated more than $53.8 billion in revenue, an increase of about $22 billion over 2020’s $31.5 billion. The firm’s major earning segments consist of automotive sales, leasing, services, sales of used vehicles, retail merchandise, and energy generation and storage. Of those, automotive sales and leasing generated $1.6 billion, while services generated $3.8 billion, and energy generation and storage generated $2.8 billion. Since its inception in 2003, Tesla has established two primary markets—the U.S. and China. In 2021 alone, the U.S. market generated about $24 billion, while the Chinese market generated about $14 billion. Those figures translate to Tesla earning net income of $5.6 billion in 2021. Continued growth is expected.

Introduction

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