The longstanding rivalry between tech billionaires Elon Musk and Jeff Bezos has reignited after a public disagreement over comments made about Tesla and SpaceX stock.

Elon Musk, CEO of Tesla and SpaceX, recently claimed on social media platform X (formerly Twitter) that Amazon founder Jeff Bezos had advised individuals to sell their shares in the two companies, predicting a loss for Donald Trump in the US presidential election.

Bezos quickly refuted the assertion, labelling it as "100% not true."

In a post shared from Mar-a-Lago, Musk wrote:

"Just learned tonight at Mar-a-Lago that Jeff Bezos was telling everyone that @realDonaldTrump would lose for sure, so they should sell all their Tesla and SpaceX stock."

Bezos responded succinctly: “Nope. 100% not true.” Musk later replied with, “Well, then, I stand corrected,” accompanied by a laughter emoji.

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Billionaire Rivalry on Display

This exchange marks yet another public episode in the often-tense relationship between the two tech magnates, who are prominent competitors in industries ranging from aerospace to electric vehicles. According to the Bloomberg Billionaires Index, Musk is currently the world’s richest person, with a net worth of $331 billion, while Bezos follows in second place with $226 billion.

Their rivalry extends beyond social media disputes. Musk’s SpaceX dominates the commercial space sector, notably with its Starlink satellite internet service. Meanwhile, Bezos’s Blue Origin is vying for space exploration supremacy and is backed by Amazon’s ambitious Project Kuiper, a satellite network challenging Starlink’s market position.

In the electric vehicle market, Amazon’s significant investment in Rivian Automotive Inc. positions it as a competitor to Tesla, further fuelling tensions between the two moguls.

Tesla’s Surge and Musk’s Political Ties

Tesla’s stock has experienced a sharp increase since the November 5 US election, surging by over 30%. This boost has raised Musk’s net worth to more than $340 billion, strengthening his position as the wealthiest individual globally.

This growth follows Musk’s high-profile support for President-elect Donald Trump, to whose campaign he reportedly contributed over $130 million. Musk’s alignment with Trump has earned him the nickname “First Buddy” in some circles, highlighting the political undertones of his business strategies.

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The Bigger Picture

The Bezos-Musk rivalry is emblematic of the fierce competition between their companies in shaping the future of technology, space exploration, and electric vehicles.

While their latest spat over stock advice may seem trivial, it underscores the high stakes and deep-seated competition between two of the world’s most influential figures.

Source: News Wires