Tesla CEO Elon Musk did not participate in the company’s earnings conference call for the first time
Elon Musk, the CEO of Tesla Inc (TSLA.O), skipped the company’s quarterly earnings conference call for the first time on Wednesday, making him one of the few top executives in the United States to skip the quarterly ritual of speaking with Wall Street.
Musk’s reputation among investors and consumers is a key advantage for Tesla, and his absence is likely to convert the company’s quarterly calls into more staid business assessments than unexpected forums for the celebrity CEO’s newest opinions if it persists.
Tesla surpassed Wall Street forecasts for third-quarter revenue on the strength of record deliveries as it negotiated a lengthy worldwide semiconductor and raw material scarcity earlier on Wednesday. find out more
Steve Jobs, the late CEO of Apple Inc. (AAPL.O), did not generally speak on quarterly conference calls, but his successor, Tim Cook, does. Other prominent leaders, such as Jim Farley, the CEO of Ford Motor Company (F.N), and Mark Zuckerberg, the CEO of Facebook Inc. (FB.O), agree.
Jeff Bezos, the wealthy founder of Amazon.com Inc (AMZN.O), did not attend the e-commerce giant’s earnings calls until stepping down as CEO earlier this year. Musk and Bezos have been competing for the title of richest person in the planet.
During Tesla’s July earnings call, Musk stated that he would not be present at future events “unless there is something very essential that I need to say.”
The outspoken entrepreneur has previously used the quarterly meetings to make promises about delivering technology and goods, as well as to strike back at analysts, the government, and detractors.
Musk is now concentrating his efforts on SpaceX, which is constructing a huge rocket that will take humans to Mars with the eventual objective of populating the planet.
According to Morgan Stanley’s clients, SpaceX has the potential to make Musk the first “trillionaire,” with the business eventually commanding a larger valuation than Tesla, the world’s most valuable industrial/manufacturing company.
Musk dubbed the US government’s stay-at-home regulations to combat the coronavirus epidemic “fascist” during an earnings conference last year.
