San Francisco: Tesla Inc CEO Elon Musk did not attend the company’s earnings conference call for the first time on Wednesday, making him one of the rare top executives in the United States to miss the quarterly ritual of talking to Wall Street .
Musk’s popularity among investors and customers is a major asset for the electric carmaker, and his absence — if it continues — makes Tesla’s quarterly calls for the latest ideas from celebrity CEOs more steady reviews of the business than unexpected platforms. likely to change.
Earlier on Wednesday, Tesla beat Wall Street’s expectations for third-quarter revenue on the back of record deliveries as it navigated a prolonged global shortage of chips and raw materials.
The late CEO of Apple Inc., Steve Jobs, didn’t usually speak on quarterly conference calls, but his successor, Tim Cook, does appear at the events. So do other prominent executives like Ford Motor Company CEO, Jim Farley, and Facebook Inc. CEO Mark Zuckerberg.
Amazon.com Inc.’s billionaire founder, Jeff Bezos, did not attend the e-commerce giant’s earnings call before stepping down as CEO earlier this year. Musk and Bezos are vying for the title of the world’s richest person.
Musk said during Tesla’s July earnings call that he would not attend such future events, “unless there’s something really important that I need to say.”
In the past, the outspoken tycoon has used quarterly calls to deliver technology and products and promises to hit back at analysts, government and critics.
These days, Musk often focuses on another major venture, SpaceX, which is developing a giant rocket to take people to Mars, with the ultimate goal of colonizing the planet.
Morgan Stanley has said that its customers believe SpaceX could make Musk the first “trillionaire” and that the company could eventually be valued even higher than Tesla, the world’s most valuable industrial/manufacturing company.
On an earnings call last year, Musk called the US government’s stay-at-home restrictions on the coronavirus outbreak “fascist.”
In another call in 2018, he declined to answer analysts’ questions on the electric vehicle maker’s capital requirements, saying “boring, boneheaded questions are no good.” This caused Tesla shares to fall.
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