Elon Musk's big claim on Amazon's Jeff Bezos: Predicted Trump's defeat, suggested to sell Tesla shares

2 min read | Updated on November 21, 2024, 17:02 IST

SUMMARY

Following the US election, Tesla’s market capitalisation soared past $1 trillion, and Elon Musk’s net worth grew by nearly $20 billion.

Billionaire Elon Musk has alleged that Amazon founder Jeff Bezos encouraged others to sell Tesla and SpaceX shares, predicting Donald Trump’s election defeat.

Billionaire Elon Musk on Thursday claimed that Amazon founder Jeff Bezos had encouraged others to sell shares in Tesla and SpaceX, predicting a loss for Donald Trump in the recently concluded presidential election.

"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," Musk wrote on X.

The claim comes as Musk rides a wave of post-election success, with Tesla’s market capitalisation soaring past $1 trillion for the first time in over two years. Musk, an outspoken Trump supporter during the campaign, has seen his net worth grow by nearly $20 billion as Tesla shares have rallied 8 to $342.22.

Musk had pledged his support for Trump, an endorsement that’s now positioning Tesla for a possible wave of new opportunities. In a post-election speech, Trump called Musk “an amazing guy” and “a star.”

Trump later announced the appointment of Musk and India American entrepreneur Vivek Ramaswamy to lead the newly formed Department of Government Efficiency (DOGE). Trump has tasked them with spearheading an ambitious agenda to reduce government waste, cut spending, and eliminate redundant agencies, likening the initiative to a modern-day “Manhattan Project.”

Calling Tesla CEO “the Great Elon Musk” and Ramaswamy an “American Patriot”, the Republican leader said the “two wonderful Americans will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies - Essential to the "Save America" Movement.”

The US President-elect added that ‘DOGE’ will provide “advice and guidance from outside” of the government and “will partner with the White House and Office of Management & Budget to drive large scale structural reform, and create an entrepreneurial approach to Government never seen before.”

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Elon Musk's big claim on Amazon's Jeff Bezos: Predicted Trump's defeat, suggested to sell Tesla shares

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