Amazon founder Jeff Bezos publicly denied rumors that he urged the sale of Tesla and SpaceX shares. This online dispute comes as Elon Musk, Tesla’s CEO, has gained prominence as a key ally of President-elect Donald Trump, credited with playing a significant role in Trump’s election victory.
On Thursday, Musk claimed on his platform X (formerly Twitter) that he heard at Mar-a-Lago that Bezos had allegedly said, “Donald Trump will definitely lose the election” and advised, “He should sell all his Tesla and SpaceX shares.” Mar-a-Lago, located in Palm Beach, Florida, is Trump’s well-known residence.
Bezos quickly refuted Musk’s statements, posting on X: “This is 100% not true.” Musk responded with a laughing-crying emoji, adding, “Then I must be wrong.”
The exchange highlights the long-standing rivalry between Musk and Bezos, who have competed for the world’s wealthiest individual title. As of Tuesday, Musk leads the Bloomberg Billionaires Index with a net worth of $331 billion. Tesla’s stock price has surged following Trump’s election, substantially boosting Musk’s fortune. Musk’s vocal support for Trump’s campaign has also elevated his standing within the president-elect’s inner circle, leading investors to speculate on potential benefits for Tesla under the new administration.
Tesla’s stock, trading at $209.86 on July 1, soared to $350 after Trump’s election victory on November 6, a remarkable 39.2% increase over just four trading days. Although it dipped to $320.72 on November 15, it rebounded by 5.6% amid expectations of relaxed autonomous vehicle regulations under the Trump administration. By November 20, the stock was trading at approximately $338 despite a slight market downturn.
Meanwhile, Bezos, who owns over 1 billion Amazon shares valued at approximately $226 billion, remains the world’s second-richest person. Since July, he has sold $4.4 billion of Amazon shares, including $1.2 billion post-election. These transactions reportedly comply with SEC Rule 10b5-1, which requires insiders to submit pre-approved plans for large-scale stock sales to ensure compliance.
In related news, Tesla board chair Robin Denholm exercised stock options on November 15, selling 112,390 shares. This transaction reportedly netted Denholm a profit of approximately $32.5 million.
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