Elon Musk has issued a warning to Bill Gates and other investors against betting against Tesla. Musk envisions transforming Tesla into a $30 trillion AI powerhouse. In a post on X, he outlined plans for Tesla to transition from selling electric vehicles (EVs) to operating fleets of robo-taxis and humanoid robots. Musk stated, “Once Tesla fully solves autonomy and has [its droid] Optimus in volume production, anyone still holding a short position will be obliterated. Even Gates.”
The rivalry between Musk and Gates became public in 2022 when leaked messages revealed Musk’s refusal to support Gates’ philanthropic efforts due to Gates’ $500 million bet against Tesla’s stock. Musk criticized Gates, saying, “I cannot take your philanthropy on climate change seriously when you have a massive short position against Tesla, the company doing the most to solve climate change.”
Despite Musk’s ambitious claims, Tesla has faced challenges this year. It was the worst-performing stock in the S&P 500 in the first quarter of 2024 and experienced a drop in vehicle sales in the first half of the year. However, Tesla’s stock has recently surged, jumping 6.5% and trading near a six-month high after a smaller-than-expected decline in second-quarter vehicle deliveries.
Musk has also hinted at a new ‘CyberCab’ robo-taxi model and potential EV sales growth in 2025 with the introduction of low-cost models. Tesla is expected to enter the Indian market with affordable offerings, aided by the Indian government’s reduction of import duties on EVs, which had previously hindered Tesla’s entry into the market.
