Musk Accuses Bezos of Advising Tesla Stock Sales Amid Trump Election

Elon Musk accused Jeff Bezos of advising divestment from Tesla due to Trump’s anticipated loss in the presidential election, a claim Bezos denied. The article examines their ongoing rivalry in the wake of election proceedings, highlighting Musk’s financial support for Trump and the subsequent rise in Tesla’s stock, while Bezos remained neutral. This dispute underscores the intertwining of political affiliations and business dynamics in the technology sector.

In a recent statement on X, Elon Musk claimed that Jeff Bezos had advised others to divest from Tesla shares, anticipating Donald Trump’s defeat in the presidential election. Musk asserted: “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 refuted this assertion, stating, “Nope. 100% not true,” prompting Musk to respond humorously, acknowledging his error.

This incident underscores the intertwining of the current political climate and the fortunes of companies associated with Musk. Musk has heavily supported Trump’s campaign financially, which has cultivated a favorable rapport between them. Notably, Musk appeared in a family photo with Trump on election night, and Trump has endorsed several of Musk’s businesses. Following the election results, Tesla’s stock surged approximately 40% in the days thereafter, attributed to Trump’s newfound support for electric vehicles.

While Musk’s aggressive backing of Trump can be interpreted as a strategic move to bolster his enterprises, Bezos has chosen a more neutral path. He refrained from endorsing either candidate, asserting that presidential endorsements often create a perception of bias, which he finds unacceptable. The ongoing rivalry between Musk and Bezos extends to their competing ventures in space travel, characterized by Amazon’s ambitious rocket deals and Bezos’ Blue Origin against Musk’s SpaceX. Reports suggest Amazon shareholders have attributed missed opportunities to this rivalry, emphasizing how personal conflicts can impact corporate decision-making.

The historical animosity between Musk and Bezos has been highlighted through Musk’s previous jibes about Bezos’s legal endeavors against him, declaring Bezos had “retired in order to pursue a full-time job filing lawsuits against SpaceX.” This ongoing contention illustrates the competitive dynamics between these two influential figures in tech and space exploration.

The article discusses the latest confrontation between Elon Musk and Jeff Bezos, igniting their long-standing rivalry. Central to the conflict is a claim by Musk that Bezos advised individuals to sell Tesla stocks based on predictions about Donald Trump’s electoral outcome. With Musk’s significant financial support for Trump and the subsequent rise of Tesla’s stock following the election, the implications of this feud extend beyond personal grievances, impacting business decisions and market dynamics in the technology and space sectors.

In conclusion, the altercation between Elon Musk and Jeff Bezos reflects deeper issues in the interaction of personal relationships, business strategies, and political factors in the tech industry. As both gentlemen undertake ambitious ventures in space exploration, their rivalry continues to have ramifications not only for their companies but also for stock market behaviors and industry trends. Their respective approaches to political endorsements further highlight the contrasts in their business philosophies and public personas.

Original Source: fortune.com