Oct 2, 2018

Tesla could generate $1 trillion in revenue by 2030, shareholder says

Photo: Emmanuel Dunand/AFP via Getty Images

Money-manager Ron Baron, whose firm Baron Capital is Tesla's 13th largest shareholder, according to FactSet, told CNBC that Tesla could generate $1 trillion in revenue by 2030 and could sell up to 15 million cars per year.

Why it matters: Baron's prediction is ultra-bullish, perhaps even for a 12-year forecast. While Tesla reported $11 billion in revenue last year, and announced Tuesday that it had met third quarter production goals, there are new questions about whether demand for its vehicles are softer than expectations. Tesla has also seen a tumultuous few months after CEO Elon Musk's "go-private tweet" resulted in an SEC settlement under which Musk was forced to pay a $20 million penalty and step down as chairman of the company.

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Humility for forecasters: Jobs shocker is record miss

President Trump speaking in the Rose Garden following the release of the jobs report on May 5, 2020. Photo: Jonathan Newton/The Washington Post via Getty Images

Economists were projecting that May's jobs figures would show a loss of 8 million jobs and an unemployment rate approaching 20% — Great Depression territory.

The state of play: Instead, a record 2.5 million workers were added, and unemployment fell to 13.3% from April's post-World War II high of 14.7%.

Updated 55 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 a.m. ET: 6,772,361 — Total deaths: 395,703 — Total recoveries — 2,772,730Map.
  2. U.S.: Total confirmed cases as of 10 a.m. ET: 1,898,401 — Total deaths: 109,137 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Public health: Fauci: "Very concerned" about spread of coronavirus amid George Floyd protests — Cities offer free coronavirus testing amid protests
  4. Sports: How coronavirus could reshuffle the sports calendar.
  5. Jobs: Better-than-expected jobs report boosts stock market.

Trump's week of viral quicksand

Data: NewsWhip; Chart: Andrew Witherspoon/Axios

Stories about President Trump's photo op at St. John's church after peaceful protesters were forcefully cleared from the area averaged the most online attention of any issue about the president this week.

Why it matters: Trump's force-over-compassion approach to the demonstrators protesting the murder of George Floyd had Republican allies backpedaling to keep a distance — and led to a wave of condemnations that got plenty of online traction on their own.