TSLA Stock Forecast: Falls 6% as Musk Links Gates to Short Bet
Elon Musk has made an unsubstantiated claim that Jeffrey Epstein supported a massive campaign to short Tesla. Musk specifically alleged that Epstein played a role in convincing Bill Gates to take a 1% short position in Tesla when its market valuation stood at around $40 billion. Musk’s accusations come without any concrete evidence and appear as part of a larger conversation surrounding Epstein’s influence and connections with high-profile business figures. Musk, responding to a post on X about Epstein’s attempts to contact SpaceX, shared that the financier became “really upset” after being “ghosted” by Musk. Musk further claimed that Epstein, in his frustration, started a campaign to hurt Tesla’s stock price, with Gates allegedly taking part by shorting 1% of Tesla’s stock at the time. This is the first time Musk has made these specific claims, although he did not provide documents or sources to verify them. DOJ Document Release and Epstein's Business Connections The timing of Musk’s allegations coincides with a significant release of documents by the U.S. Department of Justice. On February 16, the DOJ unveiled approximately three million pages of files related to Epstein, including emails and other communications involving well-known figures. Among the documents, there were emails from Epstein to Musk dating back to 2012 and 2013. While Musk has denied attending any of Epstein’s notorious parties or flying on his private plane, the release of these documents has brought additional attention to Musk’s prior interactions with Epstein. The documents also show Epstein’s persistent attempts to invite Musk to social events, including to his island in the Caribbean. Musk, however, rejected these invitations. In one email exchange from 2012, Epstein invited Musk to a helicopter ride to his private island, while Musk responded that he would likely bring his then-wife Talulah Riley. In a separate 2013 message, Epstein invited Musk to St. Barts for a party, to which Musk agreed. Despite these exchanges, Musk maintains that he never participated in Epstein's activities and had no involvement in any criminal activities. Elon Musk's Business Expansion Amid Controversies Musk's financial strategy and ventures have been evolving, especially in light of his expanding business empire. In the wake of these allegations, Musk is continuing to shift his focus away from Tesla and toward other ventures such as SpaceX and xAI. Recently, SpaceX merged with xAI, creating a combined entity valued at $1.25 trillion. The move was a significant step in Musk’s broader plans, allowing him to increase his wealth and influence across various sectors. This merger has also sparked discussions about Musk's plans for his wealth, with a large portion of his net worth now tied to SpaceX rather than Tesla. Musk’s stake in the new combined company is estimated at around 43%, valued at over $530 billion. This shift is expected to reduce his dependence on Tesla, as SpaceX is poised to become a central focus in Musk’s portfolio. Alongside these corporate shifts, Musk’s social media platform X, as we reported, is preparing to roll out in-app crypto and stock trading within weeks. This move is aimed at strengthening the platform’s role in the financial ecosystem, allowing users to engage in crypto and stock transactions directly through the platform. Furthermore, SpaceX is also looking towards an initial public offering (IPO), which could see its valuation surpass $1.5 trillion.