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An investor dedicated to Tesla, Christopher Tsai, who is also a childhood friend of the eldest son of the US president who shares Elon Musk’s name, believes that Musk’s role as the world’s wealthiest person in reducing federal spending for the Trump administration is temporary. Tsai hopes that Musk will return to focusing on managing his business.
Tsai Capital’s Chief Investment Officer and President, managing a portfolio of around $137 million, stated that despite Tesla’s success and Musk’s net worth, his hopes do not guarantee increased revenue for Musk or his company. The stock market has shown dissatisfaction with Musk’s involvement in government efficiency, with Tesla’s stock dropping by about $23 billion recently.
Tsai mentioned that when Musk acquired Twitter in 2022, the stock market reacted negatively. However, Tsai Capital, which owns around 75,000 shares in Tesla, has made significant profits from their investment. Tsai believes that Tesla’s focus on advanced electronics and software in cars sets them apart from traditional automakers and positions them as a valuable company in the future.
Despite Musk’s recent political involvement, Tsai hopes that Musk’s role in government reform will be short-lived. Tsai’s comments come amid public protests against Tesla and vandalism in some of the company’s dealerships, resulting in a drop in Tesla’s stock price. He emphasized the importance of understanding the true value of a company as an investor.
Source: www.theguardian.com
