Elon Musk believes that Bill Gates bet at some point on the decline in the value of Tesla shares and that he may have lost a large amount of money. TSLA is one of the titles frequently targeted by short sellers.
A short seller borrows shares and then sells them immediately. If the securities fall, the short-seller makes a profit because it returns cheaper securities on the agreed date. Otherwise, you lose money.
Those who bet against Tesla believe that this is an overvalued company. A TSLA stock is worth $ 816.12, and the automaker has a market capitalization of $ 783.36 billion.
“I heard at one point that he had a big short position (not on Tesla),” Musk said, referring to Gates in the podcast hosted by Joe Rogan. The entrepreneur then added that those from whom he heard this also told him that Gates had lost a large amount of money in this bet.
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In total, short sellers targeting Tesla lost $ 38 billion in 2020.
Elon Musk vs. Bill Gates, an older conflict
Microsoft’s co-founder criticized Tesla’s boss last year in an interview with CNBC for his comments about the pandemic. Bill Gates suggested to Musk to summarize the things he knows, cars and missiles: “He is not involved in vaccines. He makes a great electric car. And his missiles work well. So he’s allowed to talk about these things. I hope he doesn’t confuse the areas where he’s not too involved. “
The conflict between the two billionaires then worsened after co-founder Microsoft criticized electric trucks. Elon Musk then said that Bill Gates “has no idea” what he is talking about. Microsoft co-founder wrote that commercial long-range battery-powered vehicles, such as the Tesla Semi, are not a “practical solution”, even if their prices fall significantly. That’s because the batteries are big and heavy. The longer you want to travel longer and carry more cargo, the more batteries you need, and the heavier the vehicle.
At the same time, Musk was upset that Gates preferred to buy a Porsche Taycan electric car and not a Tesla Model S car.
Source: Go4IT by www.go4it.ro.
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