FYI: Elon Musk accuses Jeff Bezos of undermining Tesla and SpaceX, reviving old tensions between the two billionaire moguls.
Tesla CEO Elon Musk recently stirred the pot with a sensational accusation aimed at Jeff Bezos, the former Amazon CEO, which could rekindle their longstanding rivalry. Musk asserted that Bezos had advised people to sell their Tesla and SpaceX shares, predicting that their value would decline if Donald Trump lost the recent election.
Allegations Amidst Political Backdrop
The backdrop to Musk’s claims involves the recent U.S. presidential election, where Elon Musk actively supported former President Donald Trump. In fact, Musk appeared with Trump at numerous campaign events, focusing heavily on the battleground state of Pennsylvania, indicating a strong political alliance.
According to Musk, Bezos allegedly told others that Trump was destined to lose to Vice President Kamala Harris, thus encouraging the liquidation of stocks linked to Musk’s ventures. This claim emerged during a private gathering at Trump’s Mar-a-Lago estate, adding another chapter to the complex narrative between the two tech magnates.
Bezos’s Denial
Swift to counter, Jeff Bezos took to social media to dismiss the allegations as entirely fictitious. On November 21, 2024, Bezos tweeted: "Nope. 100% not true," flatly denying Musk’s assertions and seeking to set the record straight.
Impact on the Tech Industry
Musk and Bezos have intermittently clashed over the years, partly due to their positions at the helm of leading companies in the cutting-edge space exploration arena. Musk’s SpaceX frequently dominates the headlines for its ambitious projects, while Bezos’s Blue Origin is less pronounced in the frequency of its launches.
Interestingly, the supposed call by Bezos for selling shares appears counterintuitive if considering the broader market trends and policies that may favor electric vehicles (EVs) under a Harris administration. The Democratic Party’s agenda to promote EV adoption and phase out gas-powered vehicles by 2035 would likely benefit Tesla significantly regardless of partisan outlooks.
Despite the controversy, Tesla’s stock continued its upward trajectory, showing a 35% increase since Trump’s election win on November 5.
Conclusion
While the validity of Musk’s claims remains in question, the narrative it creates hints at deeper underlying competitions and calculations. This renewed focus on their rivalry, juxtaposed with political dynamics, serves to captivate industry watchers and stakeholders alike. The interplay of commerce, technology, and politics ensures this story will be pivotal for followers of the tech and automotive sectors.
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Article by William Kouch, Editor of Automotive.fyi
