Billionaire philanthropist Bill Gates says he "admires" Tesla chief executive Elon Musk but is sceptical the carmaker's valuation can continue to climb as the world transitions to electric vehicles.
In an interview with the BBC, Mr Gates downplayed reports of a feud with the Tesla founder amid accusations he was short-selling, or effectively betting against, shares of the Texas-headquartered electric carmaker.
Mr Musk surpassed Mr Gates's wealth to become the richest person in the world this year after Tesla's valuation skyrocketed following the Covid-19 pandemic.
Animosity between them appeared to grow after Mr Musk accused the Microsoft founder of taking out a large position against his company, something Mr Gates is yet to deny.
Mr Musk has also previously directed insults at Mr Gates on Twitter, the social media giant which is now subject of a Musk-led buyout worth more than $40bn.
"There's no need for him to be nice to me," Mr Gates said, referring to Mr Musk in an interview with Mishal Hussein on BBC Radio 4's Today programme.
However, he declined to answer if he was short-selling Tesla stock. "That has nothing to do with climate change. I have ways of diversifying", he said when directly asked about the reports.
Tesla's share price stands at just more than $950, making it one of the most highly-valued companies in the world. But Mr Gates said increased competition in the sector could lead to a large fall in its valuation.
"The popularity of electric cars will lead to more competition for selling those cars. So there's a difference between electric cars being adopted, and companies becoming infinitely valuable."
Read More : https://www.thenationalnews.com/world/uk-news/2022/05/05/bill-gates-admires-elon-musk-but-says-tesla-bubble-could-burst/
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