Elon Musk has bad feeling about US economy: CEO of Tesla, Elon Musk, said that he has a bad sense about the economy of the US and wants to cut about 10% of jobs at the electric carmaker. Musk sent this through an email to the executives, following his message saying that the employees can either return to their workplace or just leave the company.
Tesla has over 100,000 people employed at their company, including their subsidiaries, as of 2021.
To know more details about why Elon Musk has bad feeling about US economy, keep scrolling.
Who is Elon Musk? – The World’s Richest Man
Elon Musk, CEO of Tesla, is a South-African-born American industrial engineer and entrepreneur. He first landed in the US as a transfer student to the University of Pennsylvania at 17, migrating from Canada.
Elon is the co-founder of Paypal and the founder of aerospace transportation services company SpaceX. SpaceX, a rocket company, is currently valued at $100 Billion right after a funding round in December 2021.
Before he became CEO of Tesla, he was one of the company’s early investors. Tesla is one of the biggest electric car companies making Millions and Billions, making Elon Musk the World’s Richest Man.
The CEO owns 21% of Tesla but reportedly has pledged more than half his stake as collateral for loans.
Elon Musk exceeded Bill Gates, and a lot more Billionaire globally, taking the highest spot when the company Tesla sold thousands of cars. The current net worth of Elon Musk is $216.8B as of June 2022.
Recently, the Twitter board agreed to sell the company to Musk for $44 Billion on April 25, 2022, after he disclosed a 9.1% stake and threatened a hostile takeover.
So, why do you think Elon Musk has bad feeling about US Economy? Let’s Find out.
Why Elon Musk has bad feeling about US economy
It was recently reported that Tesla CEO and SpaceX founder Elon Musk has a super bad feeling about the economy of the United States. He also mentioned in an email he sent to executives that he wants to cut 10% of jobs available at Tesla.
The message was sent just after two days when he mentioned in another email sent to his employees that they could either work back and report to the office or leave the company.
Elon Musk has bad feeling about US Economy, which sparked a warning of a potential recession. When asked for a comment, the company has not released any statement about this. Tesla is home to 100,000 employees.
Moreover, Elon Musk has bad feeling about US Economy because of stock markets that may head toward a recession within his company and the whole of the US as the Federal Reserve raises interest rates to fight high inflation.
A lot has also been commenting regarding the message of Elon Musk, because if Elon Musk says so, it is likely to happen. US President Joe Biden also sent out a comment saying, “You know, lots of luck on his trip to the moon,” which was thanked by Elon on his Twitter.
Not only Elon Musk has bad feeling about US Economy but also other CEO of companies. They have recently expressed concerns about this, including, JPMorgan Chase CEO Jamie Dimon, which predicts an “economic hurricane” in the incoming days. “We just don’t know if it’s a minor one or Superstorm Sandy. You better brace yourself,” Dimon said.
When Elon was asked to elaborate on his message and comment that Elon Musk has bad feeling about US economy, he did not say anything more regarding his economic outlook.
Inflation in the US has been hovering at 40-year highs and has caused a jump in the cost of living for Americans, which only means that it can be one factor to consider.
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