Daily Management Review

Larry Ellison Becomes The ‘Second Largest Individual Investor’ For Tesla


01/19/2019


Following the entry of Ellison into Tesla’s board of director, he turns an investor for the company.



Source: commons.wikimedia.org (CC BY 2.0)
Source: commons.wikimedia.org (CC BY 2.0)
The founder of Oracle Corp, Larry Ellison is also the ninth “richest man in the world”. Ellison has made an investment of “$1 Billion” in Tesla Company, while he has also become a part of Tesla’s “board of directors”. After filing the “investment and stake details with the U.S. Securities and Exchange Commission”, Ellison has become the “second largest individual investor” of the company owning almost “3 Million Tesla shares”.
 
Following the recent struggle due to Tesla’s “manufacturing limits” and the founder’s Twitter post on “taking the company private”, the automaker is finding it hard to meet delivery deadlines of “popular Tesla Model 3 sedan”. If one has to go by the reports, Tesla’s production power, at present, is nearly “4700 Model 3s every week”. However, in order to meet the demand its supply has to go up by “hundreds of thousands of back orders”.
 
Model 3 sedan of Tesla is the “entry level offering in the range”, while the company is also offering “the Model S sedan”, the latter being larger and offers “more premium”, and the Model X SUV which is a “current flagship” coming from the company. The year of 2019, will witness Tesla’s new model launch of “Roadster 2”, offering “mind boggling performance at a fraction of the cost of the fastest hypercars on the road along with the highly anticipated showcase of the Model Y crossover or compact SUV”.
 
Moreover, expectations are rife that the Model Y will have a similar price range that of the Model 3, around “$ 35,000”.
 
References:
auto.ndtv.com







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