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businessClosed Jun 21, 2022

Musk Speaks at Qatar Economic Forum

  • Musk interviewed at Qatar Economic Forum
  • Says there are unresolved matters over Twitter deal
  • Sees a US recession as more likely than not
  • Undecided on supporting Donald Trump at next election
Here are the KEY TAKEAWAYS from Tesla CEO Elon Musk’s interview with Bloomberg News Editor-in-Chief John Micklethwait at the Qatar Economic Forum:
  • There are still a few “unresolved matters” about Musk’s planned acquisition of Twitter. “There is the question of, will the debt portion of the round come together and then will the shareholders vote in favor,” Musk said
  • A recession in the US “is inevitable at some point,” he said. “As to whether there is a recession in the near-term, that is more likely than not”
  • More detail on Tesla job cuts: “Tesla is reducing its salaried workforce roughly 10% over the next three months or so. We expect to grow our hourly workforce. We grew very fast on the salaried side, grew a little too fast in some areas”
  • Supply constraints are the biggest brake on Tesla’s growth, rather than competition from rival automakers: “Our constraints are much more in raw materials and being able to scale up production”
  • Asked whether he would support Donald Trump in the next US presidential election: “I’m undecided at this point on that election.” Musk said he may put a “non-trivial” amount in a super PAC