Elon Musk urges Bill Gates to close long-held Tesla short position soon
Elon Musk, CEO of Tesla, has publicly urged Microsoft co-founder Bill Gates to close out a prolonged short position he has held against Tesla's stock for nearly eight years. Musk described Gates’ bet as “crazy” and warned he should act quickly if he has not already exited the position. This call came shortly after filings revealed the Bill & Melinda Gates Foundation Trust sold a significant portion of its Microsoft shares, raising questions about Gates’ current investment strategies.
The feud between the two tech billionaires gained public attention in April 2022 following leaked text messages. In those exchanges, Gates admitted to holding a substantial short position against Tesla but expressed interest in discussing philanthropy with Musk. Musk dismissed this overture, pointing out the contradiction of Gates’ philanthropic efforts on climate change while betting against Tesla, a leader in electric vehicle innovation.
Tesla’s stock has shown strong performance over recent years, with a surge of approximately 148% over the last five years and considerable gains in the past year alone. Musk has been vocal about Tesla’s potential, recently securing a $1 trillion compensation package contingent upon achieving ambitious future goals, underscoring investor confidence amid growing challenges in the highly competitive electric vehicle market.
Gates’ initial $500 million bet against Tesla reportedly resulted in losses exceeding $1.5 billion. Despite this, it remains unclear if the short position is still active as Gates has not publicly confirmed any recent status. Musk’s warning reflects ongoing tension and highlights the stark contrast in their views on Tesla’s future and climate change solutions.
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