Tesla Motors CEO and founder Elon Musk (left) and Hollywood star Cameron Diaz (right) are rumored to be romantically linked (Click Image To Enlarge)
Billionaire entrepreneur, Elon Musk denied rumors that he is dating Hollywood actress Cameron Diaz during a recent interview with CNBC’s Squawk on the Street.
Musk who heads Space Exploration Technologies Corporation (SpaceX), SolarCity Corp (NASDAQ:SCTY) and Tesla Motors Inc (NASDAQ:TSLA) said,
“I don’t know where people got that from.”
Elon Musk Became Acquainted When Diaz Bought A Car
The New York Post first reported that Diaz bought one of the electric sports cars from Tesla Motors Inc (NASDAQ:TSLA) earlier this year, and Musk became acquainted with the actress.
According to the report, Musk became close to Diaz and he had been increasingly traveling from Tesla headquarters in Palo Alto, California to Los Angeles. Musk travels regularly & arrives unexpectedly at the company’s office in LA. Sources told the New York Post that Musk was “visiting Cameron.”
Tesla Motors Model S all-electric sedan (Click Image To Enlarge)
The report said the Diaz is a big fan of Musk. She bought a Tesla Model S EV, an energy-friendly electric sedan with a top speed of 130 mph
Meanwhile, during the interview with Squawk on the Street, Musk said that the lowered-priced sedan from Tesla Motors, Inc (NASDAQ:TSLA) will be available in the market over the next three to five years. According to him, the car will be as good as the BMW3 series or the Audi A4, and it is smaller than the Tesla Model S, and half of its price. Musk previously stated that the company’s low priced entry-level car will compete with Nissan Leaf.
Tesla Motors Model S all-electric sedan (Click Image To Enlarge)
During the interview, Musk also revealed the Tesla Motors Inc (NASDAQ:TSLA) engaged in preliminary discussions with Google Inc (NASDAQ:GOOG) regarding the self-driving car technology, which will be integrated in Tesla vehicles. He also said that the company is improving the recharging time for its vehicles.
In addition, Musk also said that a hyperloop will be cheaper mile by mile than high speed rail. Musk stated.
”Isn’t there something much better than could be done? I think it could be done for about one-tenth of the cost for the high speed rail scheduled for California.”
He plans to discuss his hyperloop idea on June 20.
The shares of Tesla Motors Inc (NASDAQ:TSLA) and SolarCity Corp (NASDAQ:SCTY) have been performing well. Musk is the largest shareholder of Tesla and his wealth increased by $2.9 billion. Data from Bloomberg showed that his net worth doubled to around $4.8 billion this year.
Tesla Motors Inc (NASDAQ.TSLA) Share Prices - YTD January 8, 2013 through May 31, 2013 - Google Finance (Click Image To Enlarge)
COMMENTARY: Elon Musk is not only an entrepreneurial genius, but a notorious "poon-hunter," and what better way to attract sexy, beautiful dames, but with a Tesla Motors all-electric vehicle. Having said this, if the rumors linking these two are true, I wonder whether Tesla Motors Inc stock will go up or down on the news. LOL Shares have exploded during the month of May 2013 from $53.28 on May 1, 2013 to a high of $110.334 on May 28, 2013. Shares have come down a bit since then and ended the month of May at $97.76. According to Wall Street analysts, the explosive increase in Tesla Motors' share prices is driven mostly by investor hype and higher than normal ZEV tax credits on each vehicle sold. These ZEV tax credits have pushed Tesla's margins to 17% from a previous 8%. Adjusting out these ZEV tax credits, the actual margins should be around 5%. Already several analysts have cautioned investors of a potential bubble. I definitely agree.
Courtesy of an article dated May 31, 2013 appearing ValueWalk
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