Musk Accuses Bezos of Advising Against Tesla Stock Amid Election Fallout
Elon Musk has accused Jeff Bezos of advising individuals to sell their Tesla shares based on the prediction of Donald Trump’s presidential election loss. Bezos denied these claims. The incident reflects their ongoing rivalry and reveals how the election outcome has significantly affected Tesla’s stock performance. Musk’s heavy political backing of Trump has offered him strategic benefits, while Bezos has maintained a stance of neutrality in endorsements.
Elon Musk and Jeff Bezos have reignited their long-standing rivalry, with Musk alleging that Bezos advised individuals to sell their Tesla shares based on the prediction that Donald Trump would lose the presidential election. Posting on X, Musk stated: “Just learned tonight at Mar-a-Lago that Jeff Bezos was telling everyone that @realDonaldTrump would lose for sure, so they should sell all their Tesla and SpaceX stock.” Bezos swiftly countered, asserting that Musk’s claims were entirely false. In a humorous retort, Musk acknowledged his mistake, saying, “Well, then, I stand corrected” with a laughing emoji.
This exchange underscores the ongoing connection between the outcome of this year’s presidential election and the financial performance of companies owned by Musk. Moreover, Musk has heavily supported Trump, investing millions in his campaign, and benefiting from a government division created as a result. The bond between Musk and Trump appears to be solidifying, with Musk even being included in Trump’s family photo on election night. Trump’s evolving stance on electric vehicles, influenced by Musk’s endorsement, has also contributed to a significant surge in Tesla’s stock price following the election results, climbing nearly 40% within a week.
Amidst this political landscape, Bezos refrained from endorsing either Trump or Vice President Harris, defending his decision to remain neutral. Furthermore, Bezos commented on presidential endorsements, stating, “What presidential endorsements actually do is create a perception of bias.” This rivalry between Musk and Bezos extends beyond finance and politics, reaching into space exploration, as seen with Amazon’s ambitious Project Kuiper, which notably excluded Musk’s SpaceX.
The competitive tension has reached a point where Amazon shareholders indicated that the rivalry affected important business decisions, alleging that the rivalry led to the exclusion of SpaceX from Amazon’s launch contracts. This long-standing conflict has also featured Musk mocking Bezos, implying that Bezos has become more focused on litigation against SpaceX rather than innovation.
The ongoing rivalry between Elon Musk and Jeff Bezos has been characterized by their competing interests in technology and space exploration. Musk, founder of Tesla and SpaceX, and Bezos, founder of Amazon and Blue Origin, have historically exhibited antagonistic behavior towards each other, particularly as they vie for dominance in the commercial space sector. Their rivalry has also influenced their respective business strategies and public personas, particularly in the context of political alignments and endorsements. Recent developments, such as Musk’s support for Donald Trump and the implications for Tesla’s market performance, highlight the intricate ties between business, politics, and personal rivalries in the tech industry.
In conclusion, the recent claims made by Elon Musk regarding Jeff Bezos’s alleged advice to sell Tesla stock demonstrates the ongoing and complex rivalry between these two tech moguls. The intertwining of their business interests and political affiliations is evident, particularly in light of Trump’s recent election victory and its positive impact on Tesla’s stock performance. As both leaders continue to navigate their competitive dynamics in the realms of space exploration and technology, their relationship remains a focal point in the business world.
Original Source: fortune.com
