I'm a Tesla investor and I've got millions in the company. I think Elon Musk is key to Tesla's success, but it can endure without him.

Core Viewpoint - Tesla's future is perceived to be resilient even without CEO Elon Musk, as the company has strong fundamentals that can sustain its growth [1][2]. Investment Perspective - Tsai Capital holds a significant position in Tesla, with $137 million in total assets and approximately 20% of the portfolio invested in Tesla shares [2][7]. - The firm previously owned 131,300 shares but reduced its holdings to 69,700 shares due to concerns about the stock becoming an "outsized portion" of the portfolio [3]. Market Performance - Tesla's stock has seen a decline of over 50% from its peak of$ 448 in mid-December, closing around $225 recently [5]. - The company has faced sales declines in key markets such as Europe and China, attributed to various factors including product refreshes [5][11]. Competitive Landscape - Despite increased competition from companies like BYD, Tsai believes there is ample room in the EV market for multiple players, emphasizing that Tesla's superior product quality will maintain its market position [8][10]. - BYD reported selling 1.76 million battery electric vehicles in 2024, closely trailing Tesla's 1.79 million [8]. Strategic Insights - Tsai views Musk's connections with the Trump administration as beneficial for Tesla, allowing for potential policy influence [4][7]. - The recent turmoil surrounding Musk's involvement with the Department of Government Efficiency (DOGE) is seen as a temporary challenge, with expectations that negative market sentiment will eventually dissipate [6][7]. Long-term Outlook - Tsai Capital maintains a long-term investment strategy, focusing on Tesla's fundamentals and anticipating substantial revenue and earnings growth in the coming years [12].