Billionaire Elon Musk has donated to a super political action committee working to elect Donald Trump to the White House, a major gambit by the world’s richest person to make his imprint on the US political landscape.
Elon doesn’t care if Tesla succeeds, he’s just using it as a way to launder financial gifts from other billionaires/millionaires and using poor people to help subsidize.
Eg if his friend, MBS from Saudi Arabia, has 2-5 people with trading algorithms and a few million dollars, they can inflate the stock. This makes it look appealing to regular buyers who think the stock is actually organically reaching that price. Then they invest more, increasing the price, and MBS can start to withdraw some of his money out, but Elon will still have that funding/money from the real investors. If the stock starts to deflate, they can just pump it again.
At some point, the stock will correct. Either when Elon stops convincing rich people (eg MBS) he can deliver on his promises, or when it becomes clear to the public it was a grift the whole time. I think Elon assumes it will be soon, which is why he took out so much recently (like 40 billion, right?) and risked removal from the company.
It’s entirely possible Elon is worried about crimes he’s committed and supports Trump explicitly for a pardon (which we know Trump is selling).
Elon doesn’t care if Tesla succeeds, he’s just using it as a way to launder financial gifts from other billionaires/millionaires and using poor people to help subsidize.
Eg if his friend, MBS from Saudi Arabia, has 2-5 people with trading algorithms and a few million dollars, they can inflate the stock. This makes it look appealing to regular buyers who think the stock is actually organically reaching that price. Then they invest more, increasing the price, and MBS can start to withdraw some of his money out, but Elon will still have that funding/money from the real investors. If the stock starts to deflate, they can just pump it again.
At some point, the stock will correct. Either when Elon stops convincing rich people (eg MBS) he can deliver on his promises, or when it becomes clear to the public it was a grift the whole time. I think Elon assumes it will be soon, which is why he took out so much recently (like 40 billion, right?) and risked removal from the company.
It’s entirely possible Elon is worried about crimes he’s committed and supports Trump explicitly for a pardon (which we know Trump is selling).