It is commonly believed that Elon Musk owns the Tesla car company. He doesn’t. First, Musk only owns about 16 per cent of the company’s shares – even with the approximately $29bn (£22bn) additional share allocation he’s just received – so he is actually a minority shareholder.
Second, Tesla isn’t strictly a car company, even though it obviously makes them. It is principally a tech company, so its valuation and business model are radically different, and are based on its lead on autonomous (or self-driving) transportation.
