FALCON POWERS – Elon Musk, the founder of Tesla, warned Microsoft co-founder Bill Gates that he will destroy his fortune if he attempts to short Tesla’s stock, according to a report by Fortune magazine on Tuesday.
Musk believes that he will turn Tesla into a $30 trillion artificial intelligence giant, once the company completes its transition from selling electric vehicles to operating a profitable fleet of autonomous taxis and human-like robots, according to Fortune.
The roots of the tension between the two men date back to when they clashed over the sale of Tesla’s electric vehicle stocks. At the time, Musk publicly mocked Gates on Twitter for shorting Tesla’s stock, while Gates claimed to support climate change-related measures.
The real conflict between the two was over their charitable works, with Musk dismissing them as “nonsense” and claiming that only 20 cents of every dollar donated would have a real impact. Gates, on the other hand, tried to show Musk some of the projects he had spent $100 million on that had a significant impact.
Fortune reports that Musk’s warning about wiping out short positions is a bold claim from a person whose company was the worst performer on the S&P 500 index this year. Tesla’s stock has declined 29% since the beginning of 2024, and the company’s earnings report in January fell short of expectations, with net profits declining by around 40% year-over-year. Analysts also expect continued negative performance from Musk’s company in the current first quarter, according to CNBC.
