ESG & Investing

Hedge Funds Shorting Tesla Just Lost More Than $5 Billion

Elon Musk emerges as Donald Trump’s biggest billionaire fan
Tesla outlook seen tied to Musk’s close relationship to Trump

Musk Will Have Significant White House Influence: IvesSource: Justin Merriman/Bloomberg

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By Ishika Mookerjee

November 10, 2024 at 7:00 PM UTC

Updated on

November 11, 2024 at 12:00 PM UTC

This article is for subscribers only.

Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the president-elect and Elon Musk.

Hedge funds that had short positions against Tesla between election day and Friday’s close took an on-paper hit of at least $5.2 billion, according to Bloomberg calculations based on data compiled by S3 Partners.