It is the avowal of a man possessed, but this picture also includes Musk delivering Twitter tirades in the middle of the night, corroding analysts and journalists, and calling a cave rescuer from Thailand a pedophile.

It is the avowal of a man possessed, but this picture also includes Musk delivering Twitter tirades in the middle of the night, corroding analysts and journalists, and calling a cave rescuer from Thailand a pedophile.

Kretinsky controls 94 percent of the EPH shares. Kretinsky is also active outside the energy sector. In 2004, he joined the JT Group and joined the Sparta Prague football club and is its president. He is also involved in a media company that publishes the Czech tabloid “Blesk” “. Source:, with rts / dpa” In a good mood: Apple’s boss Tim Cook. (Photo: REUTERS) It should be like this shortly be far: Apple is worth a trillion dollars on the stock market.

The latest quarterly figures could provide the momentum necessary to drive the share price above the magic mark. How big is a trillion? If you earn 50,000 euros a year, it will take 20 million years to raise that trillion.

That’s just for classification. Apple is about to be worth so much on the stock market, making it the first company to really succeed. The oil company PetroChina was theoretically valued at one trillion dollars on the day of its IPO in Shanghai in 2007. However, most of the shares were owned by the state and therefore excluded from trading.

In addition, it went downhill the next day. Now worth less than $ 200 billion, PetroChina caused the biggest equity crash ever, and it’s probably only a matter of time before Apple breaks the trillion dollar mark. The company currently has a market capitalization (that is the number of shares multiplied by the current price) of $ 935 billion. So there are still almost seven percent missing to the magic mark.

The latest quarterly figures can provide the necessary boost: After the stock market closed in the USA, the price rose by three percent on Tuesday. If it goes on sale at this level today, Apple is still $ 40 billion away from market capitalization to the big B. Now, it can be argued that it doesn’t matter that much whether a company is $ 1 trillion or that is worth something more or something less. But a one with twelve zeros – 10,000,000,000,000 – already looks impressive. So far this year, the stock has gained twelve percent. This is mainly due to the solid sales of the iPhones, which account for almost 60 percent of sales, but there are other reasons for the price increase. First there are the share buybacks.

The current program has a volume of $ 245 billion, which Apple uses to buy its own shares. This measure is an effective means of propping up the share price, as increased demand drives the price of the paper up, and Apple does not keep the shares, but rather withdraws them from circulation. This increases earnings per share, making them more attractive to investors. Warren Buffett is one of them. The investment legend has discovered his affection for Apple, whose shares make up the largest position of his vehicle, Berkshire Hathaway, with a volume of 40 billion dollars, and where Buffett is, other investors are not far.

Apple is a popular investment, which is also due to the fact that the company is represented in the three most popular US stock market indices – the SP 500, Dow Jones and Nasdaq 100. Investors like to put their money into these indices. And that often happens in the form of so-called ETFs, i.e. exchange-traded funds that only precisely track an index. Apple has a heavy weight in these indices (just under four percent in the SP 500, around five percent in the Dow and more than eleven percent in the Nasdaq).

In other words, the ETFs on some of the world’s most popular indices are generating significant demand for Apple shares. However, Apple is not the only company targeting the trillion mark on the stock exchange. Amazon brings $ 867 billion on the stock exchange, Google parent Alphabet 846 billion. Microsoft is valued at 814 billion.

For comparison: According to the International Monetary Fund, there were only 16 countries with an economic output of more than one trillion dollars last year. Source: “Has a lot on his mind: Elon Musk. (Photo: AP) Tesla boss Elon Musk has to In addition to production problems and impatient shareholders, they are now also dealing with the US Securities and Exchange Commission and angry investors. The new difficulties come at an inopportune time. That was probably nothing. Within 17 days, Elon Musk has sowed considerable doubts as to how things will go with Tesla – especially with him at the helm.

As if he didn’t already have enough problems, he is in new trouble: the stock exchange regulator is investigating, investors are suing Tesla and analysts are predicting a fall in the share price. Meanwhile, the “” New York Times “” is wondering if Musk is still sane. Musk broke it all up on August 7th. On the way to the airport, the Tesla boss and major shareholder tweeted that he was thinking about taking the manufacturer of electric cars off the stock exchange. A little more than two eventful weeks and a roller coaster ride of the share price later, Musk cashed in on the proposal last Friday and announced that Tesla would now stay on the stock exchange, but the damage remains.

For one, Musk damaged its credibility. On the other hand, the tweet can get really expensive; the legal aftermath has only just begun. The Securities and Exchange Commission is investigating and, according to US media, has already sent summons.

She checks to see if Musk misled investors with his tweet. Some of them are exactly convinced that several law firms have already sued Tesla or are preparing such a step. These include law firms such as Hagens Berman and Lieff Cabraser, who have already obtained billions in compensation from other corporations such as Volkswagen in the emissions scandal.

In essence, it is about the two words “” Financing secured “”. You are at the end of the tweet in which Musk announced that he would take Tesla off the stock market at a whopping premium for $ 420 per share. The price went through the roof, with shares gaining almost 11 percent to $ 380 that day, hurting speculators who had bet that the share price would fall. And these so-called short sellers Musk has a heartfelt dislike. The Tesla boss named them as one of the reasons why it was better to take the company off the stock exchange.

There are “” a large number of people who have an incentive to attack the company, “wrote Musk in a blog post. And some of these people may have lost a lot of money in the stock’s sudden appreciation. The two main questions now are: Did Musk really mean the announcement? And has the funding actually been up? Skepticism is growing. The move would have cost at least $ 24 billion at the share price mentioned.

Tesla burns money, is in the chalk with around ten billion dollars and is struggling with production problems with the hopeful Model 3. Although Musk claims that “” more than enough “” funds would have been available to take Tesla off the stock exchange. However, he does not reveal where exactly the money should have come from. It looks like Musk’s one-man show involves significant risks. Now, of all times, Tesla is going through a critical phase with the Model 3.

At the end of June, the company had finally achieved its production goal of producing 5,000 units of the cheaper Tesla model per week, but there are doubts as to how sustainably this goal has been achieved. “” Our experts identified numerous quality problems such as missing screws, loud noise or uneven gaps, “” says a UBS analysis. The website “” Business Insider “” reported, citing internal Tesla documents, of an enormous error rate. More than 4,300 of the 5,000 Model 3s manufactured in the last week of June had to be reworked. Instead of escaping the pressure of the markets by going public, Musk is now even more stressed – and he is already extremely ailing. In a tearful interview with the “” New York Times “” he described himself as a workaholic with health problems and sleeping pills.

He said he sacrificed his private life to Tesla, worked up to 120 hours a week, worked his entire birthday and almost missed his brother’s wedding. It is the avowal of a man possessed, but this picture also includes Musk delivering Twitter tirades in the middle of the night, causticizing analysts and journalists and calling a cave rescuer from Thailand a pedophile. The diver had described a mini submarine provided by Musk as a PR gag. How should that be classified? The Tesla founder has a lot of fans. You see him as a visionary and pioneer who has to cross borders in order to achieve his goal.

And that is reflected in the erratic behavior of the entrepreneur. Such people used to be called “foolhardy”. After all, Musk is shaking up the auto industry and is reaching for the stars with his space tourism project SpaceX. Investors and interested observers are increasingly wondering whether this is going to work. “As for my personal life, the worst is yet to come,” “Musk told the New York Times”. According to reports, the Tesla Board of Directors is looking for a top manager to exonerate him. But Musk doesn’t want to know anything about it and considers himself indispensable.

Maybe he is too. Source:, with dpa “The Turkish President Erdogan. (Photo: REUTERS) The Turkish President Erdogan sees foreign powers at work who have declared economic war on his country. The crisis is homemade, and Bankers already draw the comparison with Venezuela. Bad politics and bad framework conditions are not a good connection. This is particularly evident in Turkey.

The country’s economy is in serious trouble and President Recep Tayyip Erdogan is not making sure things get better. On the contrary: Erdogan blames anti-Turkish forces for the crisis, who waged an economic war against his country – using interest rates, exchange rates and inflation. However, the causes of the crisis are homemade, even if the US Federal Reserve does play a role. Ten years ago, like the European Central Bank, the Fed cut interest rates to almost zero.

In view of the economic and financial crisis, the economy in the US and the euro zone was supposed to be stimulated by cheap money, but this had the side effect that a lot of money flowed to emerging countries like Turkey because interest rates were higher there. As a result, the lira and the share prices of the Istanbul Stock Exchange rose. And both the state and companies were able to borrow abroad comparatively cheaply. It did well on the Bosporus until the US Federal Reserve initiated a turnaround in interest rates. With every interest rate hike, the dollar area becomes more attractive, money flows back from the emerging markets, and all of this puts their currencies under pressure.

The lira is particularly affected, and the South African rand and the Argentine peso are also affected to a lesser extent. Now the mistakes of the past are taking revenge. Turkey had used the favorable opportunity to ensure high economic growth on credit. For Erdogan, cheap loans and an economy in full swing were an absolute priority. Success at first glance: The Turkish economy has grown by almost 30 percent in the past five years.

This fact is a major contributor to Erdogan’s popularity and secured him victory in the recent presidential election, but the credit-funded boom fueled inflation, currently at over 15 percent. Together with the price slide, this does not make investing in lira particularly attractive. Ultimately, this would cause investors to fear rapid devaluation of their money. At the same time, the current account and budget deficits increased massively. In order to finance the shortfall, Turkey depends on the money of foreign investors. However, this capital is no longer flowing as vigorously as before, one reason being the sanctions imposed by US President Donald Trump and his threat to refill the dispute over the US pastor who is being held in Turkey.

At the same time, Erdogan’s autocratic policy is helping to reduce investor confidence in Turkey. For example, the president installed his son-in-law as finance minister and indicated to the officially independent central bank to pay attention to his “signals”. Against this background, the rating agencies Moody’s and SP downgraded the country’s creditworthiness to the junk zone last Friday. In other words, doubts are growing as to whether investors will get their money back. At the same time, speculation about payment defaults in Turkey is driving the cost of credit default insurance to its highest level in nine years – that is, to a level when the economic and financial crisis was at its peak. Normally a central bank would have to raise interest rates in this situation.

The key interest rate in Turkey is just under 18 percent, but that is obviously not high enough to counter currency decline and inflation. The logic behind it: the prospect of high interest rates attracts capital, which means that the lira rises at the same time. A stronger currency also has an anti-inflationary effect.

Goods bought abroad and imported into Turkey become cheaper, and high interest rates tend to dampen prices because they make loans more expensive. It is also worth saving more. This means that companies invest less, consumers consume less – that slows economic growth. That is exactly what Erdogan does not want. The central bank is therefore reluctant to raise interest rates, also because Erdogan is a self-declared enemy of interest rates and sees them as the “mother and father of all evil”.

In addition, contrary to the economic doctrine, the president is convinced that high interest rates lead to high inflation and low interest rates lead to low inflation. In addition, the government and companies have borrowed a large part in foreign currency. Due to the drastic devaluation of the lira, it is now more expensive for them to service these loans. For dollar liabilities, around 60 percent more lira must be raised than at the beginning of the year. According to calculations by the French bank Société Générale, the state and companies are pushing short-term liabilities to foreign creditors of 180 billion dollars.

In October alone, almost $ 3.8 billion will have to be paid back, and the total external debt is estimated at $ 460 billion, which would be the highest of any emerging market.