• Thu. Jul 7th, 2022

Six Takeaways From What Elon Musk Said at Qatar Economic Forum

Byaayme

Jun 21, 2022

June 21, 2022, 1:14 PM GMT+5:30Updated onJune 21, 2022, 3:52 PM GMT+5:30

Elon Musk covered everything from the state of his deal to buy Twitter Inc. to the direction of the American economy and planned job cuts at Tesla Inc. in an appearance at the Qatar Economic Forum Tuesday.

The chief executive officer of Tesla and Space Exploration Technologies Corp. even waded into US politics, saying that he was yet to decide who to back in the next presidential election when asked directly if he’d consider supporting Donald Trump.

Wearing a white shirt and gray suit jacket, the world’s richest man was articulate and to the point in the video link-up, fielding a raft of questions over the 20-minute discussion.

Here are the top things Musk spoke about in an interview with Bloomberg News Editor-in-Chief John Micklethwait:

‘Unresolved matters’ remain on Twitter deal
“There is the question of, will the debt portion of the round come together and then will the shareholders vote in favor,” Musk said.

The billionaire said last month that he was putting the takeover “on hold” while he investigated how many of Twitter’s users were real people, and later filed a formal letter with the Securities and Exchange Commission in which he told Twitter executives he might walk away from the deal if the company didn’t do more to prove the actual size of its user base.

Musk told the forum on Tuesday he would focus on “driving the product” at Twitter, though he doesn’t necessarily plan to be the CEO.

Watch the full Musk interview here.

US recession “inevitable” at some point
The electric-car pioneer told Tesla executives earlier this month that he had a “super bad feeling” about the economy, according to an internal email seen by Reuters. Seeking to quell a surge in living costs, the Federal Reserve accelerated its monetary-tightening campaign last week with its biggest interest-rate increase since 1994.

A recession in the US is inevitable at some point, he said Tuesday. “As to whether there is a recession in the near-term, that is more likely than not.”

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