George Soros and Elon Musk are exact opposites when it comes to business and social interactions, as well as their overall reputation as individuals. Both billionaires are known for completely different reasons. While Elon Musk is a tech entrepreneur renowned for his innovations and outspoken personality, Soros is infamous for his controversial actions.
Soros has been recognized as an influential international political figure who donates substantial amounts of money to his Open Society Foundations, which allegedly manipulate media narratives worldwide. Additionally, he has been linked to the European underworld. Now, it appears that Soros has decided to target Elon Musk in his latest schemes.
George Soros And Elon Musk’s Bitter Rivalry
Elon Musk and George Soros have a bitter rivalry. For those unfamiliar with the situation, Soros is a notorious short seller who profits from companies’ failures and subsequent stock declines. Musk has openly opposed Soros and his questionable activities on several occasions.
Recently, Elon Musk blamed Soros for devising clever methods to manipulate the system. In response to a Twitter user’s claim that a corrupt New York District Attorney received $1 million from Soros, Musk replied, “Soros figured out a clever arbitrage opportunity: the many small political contests, such as DAs & judges, have a much higher impact per dollar spent than the big races, so it is far easier to sway the outcome.”
Soros figured out a clever arbitrage opportunity:
The many small political contests, such as DAs & judges, have much higher impact per dollar spent than the big races, so it is far easier to sway the outcome.
— Elon Musk (@elonmusk) March 18, 2023
Last year, during Elon’s attempt to purchase Twitter, numerous groups and individuals urged advertisers to withdraw support from the platform, effectively obstructing Musk’s efforts to revolutionize social media.
In response to a report by one such advocacy group urging advertisers to boycott Twitter, Musk tweeted, “Who funds these organizations that want to control your access to information? Let’s investigate.” This was clearly aimed at the Open Society Foundation, as many of these groups were funded by Soros’ foundation.
Musk took it a step further by tweeting, “I wonder if those funding these organizations are fully aware of what the organizations are doing,” raising doubts about Soros’ intentions.
Interesting. I wonder if those funding these organizations are fully aware of what the organizations are doing. https://t.co/YzVZIvF68E
— Elon Musk (@elonmusk) May 4, 2022
George Soros Sells All His Tesla Shares In A Bid To Hurt Elon Musk
Continuing his disruptive pattern, Soros has now divested from Tesla. According to new regulatory filings, Soros liquidated all of his investments in Tesla, making him no longer a shareholder as of March 31, 2022. This comes exactly 12 days after Musk blamed Soros for bribing NYC District Attorney. We can’t confirm whether or not Soros’ actions came in a reaction to Musk’s Tweet but it seems like it.
Experts suggest that Soros’ investment decisions, given Tesla’s current state, could send a highly negative message to investors and potentially trigger a sell-off of Tesla stocks. Since March 31, Tesla’s stock has been declining, and the news of Soros withdrawing from the electric car manufacturer could further exacerbate the situation.
Between March 31, 2023, and May 13, 2023, Tesla’s share fell 14% from its original price, resulting in a loss of about $95 billion in valuation. And as Elon Musk holds a 13.4% stake in the company, his individual losses are at around $13 billion.
This is not the first time Soros has taken such action, and it likely won’t be the last. Furthermore, Soros is investing in Tesla’s competitors, Lucid Motors (LCID) and Rivian (RIVN). Considering all these factors, it strongly implies that Soros is betting on the decline of Tesla shares and is doing his best to ensure that outcome.
Only time will tell if Soros’ strategy will be successful. Tesla is facing fierce competition from other manufacturers such as Toyota, Ford, General Motors, and the Chinese electric car manufacturer BYD. Soros’ move at this particular time could severely impact Tesla’s business. However, one of Elon Musk’s most intriguing qualities is his ability to run a business and persevere in the face of obstacles like this.