Business NewsVideos

VIDEO: Elon Musk Talks Twitter Deal, Tesla Layoffs, Trump and U.S. Recession at Qatar Economic Forum

In His Appearance at the Qatar Economic Forum This Morning, the World’s Richest Man, Elon Musk, Discussed a Myriad of Important Topics, Including the Current Status of His Twitter Deal, Planned Layoffs at Tesla, the Likelihood of a U.S. Recession and the Possibility of Him Supporting Donald Trump in the 2024 U.S. Presidential Election

Elon Musk’s appearance at the Qatar Economic Forum featured an in-depth interview with John Micklethwait, Editor-in-Chief at Bloomberg News. During the interview, Musk also discussed current supply constraints, which the Tesla (NASDAQ: TSLA) CEO described as the biggest brake on Tesla’s growth.

Musk explained further, stating:

“Our constraints are much more in raw materials and being able to scale up production.”

Musk also touched on the subject of layoffs at Tesla, with the CEO commenting:

“Tesla is reducing its salaried workforce roughly 10% over the next three months or so. We expect to grow our hourly workforce. We grew very fast on the salaried side, grew a little too fast in some areas.”

As expected, Musk was pressed to give an update on the current status of his $44 billion Twitter acquisition, to which he stated that there are still a few “unresolved matters.”

Musk elaborated on the current state of the Twitter (NYSE: TWTR) deal, saying:

“There is the question of, will the debt portion of the round come together and then will the shareholders vote in favor.”

Source: Bloomberg News

????Also Read: Musk Threatens to Walk Away From Twitter Deal Over Bot Accounts Dispute

When the topic of a potential recession in the United States arose, Musk gave his opinion on the matter, claiming:

“[A U.S. recession] is inevitable at some point. As to whether there is a recession in the near-term, that is more likely than not.”

When asked whether he would put his support behind Donald Trump in the 2024 U.S. presidential election, Musk, who said he might put a “non-trivial” amount of money in a super PAC, answered:

“I’m undecided at this point on that election.”

Shares of Twitter closed Tuesday’s trading session at $38.91 per share, up +2.99% on the day. YTD TWTR stock is down -8.79%.

Learn more about Twitter: Website | Investor Deck | TWTR Chart

Shares of Tesla closed trading today at $711.11 per share, up +9.35% on the day. YTD TSLA stock is down -40.73%.

Learn more about Tesla: Website | Investor Deck | TSLA Chart

Did you enjoy this article? If so, consider signing up for the Wealthy VC Email Newsletter below to start receiving our weekly newsletter featuring the week’s best articles.

Follow Wealthy VC on Social Media: Facebook | Instagram | Twitter | LinkedIn | GETTR

????Join the Discussion in the Wealthy VC Investor Group

????Have a Stock Tip or New  Story Suggestion? Email us at

Disclaimer: Wealthy VC does not hold a position in any of the stocks mentioned in this article.

Ryan Troup

Ryan Troup is the Editor in Chief of Wealthy VC and TCI. Ryan has 15+ years of investing experience. Twitter | Email

Related Articles

Back to top button