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The electric car company’s stock was a huge hit in 2020, growing nearly 600% and is now worth more than any other automaker.
And after years of losses, Tesla has now recorded five straight quarters of positive net income.
But in an email to staff, Mr Musk warned that the company’s profitability was only around 1%, and the stock’s success was due to investors’ expectations for larger profits at the company. to come up.
“If at some point they conclude that this will not happen, our broth will immediately be crushed like a souffle under a sledgehammer! he wrote in the email, according to Electrek.
The email urged staff to try and find savings across the business.
“It’s a tough game – one that requires thousands of great ideas to improve the cost of parts, a factory process, or just the design, while also increasing quality and capability,” Musk wrote.
“A good idea would be one that saves $ 5, but the vast majority are 50 cents here or 20 cents there.”
Tesla did not comment further on the content of the email.
It has been a very profitable year on a personal level for Mr. Musk, born in South Africa.
His personal wealth, driven by Tesla’s share price, rose from $ 111 billion to $ 139 billion, making him the second richest man in the world, according to the Bloomberg Billionaires Index.
Mr. Musk is now ahead of Bill Gates, who has a wealth of $ 129 billion, but he is still behind Amazon founder Jeff Bezos, whose wealth is estimated at $ 188 billion.
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