Elon Musk reveals what Tesla stock surge could do to Bill Gates
12/10/2024 11:05 AM
Elon Musk revealed in a post on X early this morning that if Tesla’s stock surge continues to a certain level, shorts everywhere would be obliterated.
Even Bill Gates, who is one of the richest people in the world.
Gates, who has admitted to Musk personally that he holds a short position in Tesla, is worth $108 billion, according to Forbes.
However, Tesla’s recent stock surge has been burning short sellers for over a month as shares continue to explode and have skyrocketed above the $400 level.
Tesla has regained its trillion-dollar market capitalization and is the eighth-most valuable company in the world, sitting just $300 million behind Meta Platforms, which sits in the seventh position.
Musk and Gates have had a strange relationship. Gates wanted to discuss philanthropy opportunities with Musk several years ago, but Musk declined when he found out the Microsoft founder still held a short position on Tesla, “the company doing the most to solve climate change,” Musk said to Gates in response to the request.
Elon Musk explains Bill Gates beef: He ‘placed a massive bet on Tesla dying’
Over the past month, short sellers have continued to be burned by Tesla’s climb up Wall Street, where it has gained nearly 56 percent since President-elect Donald Trump, a Musk ally, won the election.
Some shorts have gotten out of their positions, but some still remain. While Gates’s position is not currently known, Musk was sure to explain that if he still holds a bet against Tesla, he could be in for bankruptcy if the company can continue to climb and become the world’s most valuable company.
Musk said in the X post:
“If Tesla does become the world's most valuable company by far, that short position will bankrupt even Bill Gates.”
If Tesla does become the world's most valuable company by far, that short position will bankrupt even Bill Gates
— Elon Musk (@elonmusk) December 10, 2024
Gates has not publicly talked about Tesla in some time, and he has not disclosed whether he still holds a short against the company currently.
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