Introduction:

Wall Street’s Been Snorting Hopium Again

Tesla trades at an over 750 billon market cap today. But once you strip away taxpayer subsidies, stock manipulation, and Elon Musk’s personal cash outs—what’s left? Not much. In fact, Tesla’s real value to society might is clearly negative.

1. Tesla Only Exists Because of Government Handouts

Without free money from taxpayers, Tesla would’ve collapsed years ago.

• $7.5B+ in U.S. EV tax credits handed directly to buyers
• Billions in zero-emission vehicle (ZEV) credit sales, only possible because other automakers followed the law and Tesla didn’t have to compete
• Gigafactories built with subsidies (e.g. $1.3B from Nevada, $750M from New York)
• Canada caught them submitting 8,753 EV rebate claims in one weekend, nearly one per minute, triggering a full ban
• Without these handouts, Tesla’s entire cashflow would have failed

Even Elon’s $55 billion compensation package depended on the stock price staying inflated by these schemes. In any normal business, you’d have to sell equity or raise capital. But Tesla gamed public markets instead.

2. The Deadliest “Tech” Company on the Road

Tesla vehicles are involved in more fatal accidents per mile driven than any other major automaker, according to NHTSA data.

• Full Self-Driving (FSD) is still beta software—yet marketed as safer than human drivers
• “Autopilot” is intentionally misleading
• Crashes involving children, emergency vehicles, parked fire trucks—some on camera
• Every crash is blamed on the driver… who paid thousands to beta test unfinished software

If Tesla were a pharmaceutical company, they’d have been shut down after the first round of fatalities.

3. Elon Musk Has Extracted More Than Tesla Ever Made

• Tesla’s total net income since inception: ~$36 billion
• Musk has sold $50–60 billion in Tesla stock
• That’s more than the company’s lifetime earnings
• He used $44 billion to buy Twitter—now worth a fraction
• He took your taxpayer-funded dreams and turned them into personal cash and a broken website

This isn’t wealth creation. It’s wealth siphoning.

4. What Did Society Get?

• SolarCity acquisition = billions in losses, fake solar shingles, minimal installs
• 4680 battery cells hyped endlessly, still not delivering breakthroughs
• Charging stations that barely break even, while gas station chains trade at a fraction of Tesla’s valuation
• Unsafe working conditions, union busting, child labor in lithium/cobalt supply chains
• CO₂ cost of luxury EVs likely never offset due to high material inputs

Tesla didn’t bring the future. It delayed it with lies and PR stunts.

5. So What’s the Real Value of Tesla?

Let’s play the numbers backwards.

• Total Tesla net income: +$36 billion
• Subtract Musk’s extraction: –$55 billion
• Subtract direct subsidies: –$15 billion
• Adjust for negative externalities: deaths, pollution, misinformation, broken political processes, union-busting, ESG manipulation

Conservative estimate of value to society: –$30 billion to –$50 billion

There are 3.2 billion shares outstanding. That puts the real value of each share somewhere between:

–$9.38 and –$15.63 per share

Of course, stocks can’t actually trade negative. But that’s the societal value. The actual result of all this PR-driven fraud.

6. Why It Matters

Tesla is a financial hallucination—a Ponzi-like loop that takes taxpayer money, rewards one man, and leaves the rest of us with the bill.

It’s not a car company. It’s a wealth extraction vehicle with a bumper sticker that says “tech.”

Conclusion:

If you believe in value investing, in merit, in innovation… you need to stop pretending Tesla is any of those things.

Its real value is negative—and the longer the illusion persists, the more we all pay.