The legendary investor continued to buy Tesla stock in the fourth quarter even as the electric car maker’s stock market crashed.
Elon Musk asked George Soros a provocative question last month.
question was related Indirectly about how Soros spends his money and the numerous donations that legendary investors make.
“Do you really know where your money is going?” Musk said, referring to Soros on Jan. 16.
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Soros never answered. But Musk’s question no doubt touched on multiple conspiracy theories that have been circulating about Soros for years. The Hungarian-born investor attracts conservatives, right-wing and even left-wing extremists, who blame him for almost every wrongdoing society and the world faces.
According to them, billionaires are the origin of various evils that rock society and the world. According to them, he’s also the face of the globalist elite trying to impose its agenda on the rest of the planet.
Soros Buys More Tesla Stock
In general, Soros is the victim of his bold and profitable financial bets. He became a legend in the financial world after his 1992 smash hit. It was called Black Wednesday, also known as the Stirling Crisis of 1992.
Soros, then a currency trader, was betting against the British pound by shorting £10 billion. His bet was based on the fact that attempts by the British government to support the pound would fail. As a result, Soros is known for “breaking the Bank of England.”
And since then he has been rumored/suspected/accused of betting against many currencies.
The legendary investor is becoming a major shareholder in Tesla, the company at the heart of the Musk brand, so Musk will have the opportunity to ask Soros directly.
Investor Soros Fund Management (SFM) Hedge fund, continued to increase its stake in electric vehicle manufacturers in the fourth quarter of 2022. SFM said he held 132,046 shares of Tesla stock as of December 31st. regulatory application. This represents an increase of 42,399 shares compared to September 30th.
An interesting point to note is that Soros continued to acquire shares in Tesla when the Austin, Texas-based company was suffering from a stock market crash. Overall, Tesla stock lost his 65% of its value last year. Soros did not take into account all these gusts. As of December 31, his Tesla stock was worth about $16.27 million. Within two months, at Tesla’s current stock price of $209.25, his value increased by over $11 million to $27.63 million.
The legendary investor seems to have smelled good again. Tesla announced his stellar results on Jan. 25, with 2022 net profit he had $12.6 billion. The group plans to produce up to 2 million vehicles after producing 1.37 million last year. Adding to this good news is the start of production of the company’s first truck/pickup, the Cybertruck, later this year. This vehicle has been identified as the cash cow of the future, with a full order book and very high expectations.
Soros has a call option on Tesla
Soros appears to have anticipated all of these events, as he placed call options on 200,000 additional Tesla shares in addition to his shares, according to regulatory filings. A call option gives the buyer the right to acquire a specified amount of shares at a specified price within a specified period of time.
The legendary investor first acquired Tesla stock in the second quarter of last year. At the time, he held 29,883 shares. He earned more than four times as many positions as he did in his six months.
Soros’ investment in Tesla is a sign of confidence in Musk’s strategy, especially the fact that he believes in the techno king’s promise to make Tesla a trillion-dollar company.
Due to stock market regulations, managers of funds with more than $100 million in U.S. stocks must file a document known as a 13F within 45 days of the end of the quarter to declare their holdings of stocks traded on U.S. exchanges. Must be listed.
The value of Soros’ U.S. equity portfolio increased 24% sequentially to $7.26 billion. Soros Fund Management is a family office managing public and private equity.
“SFM invests globally across a wide range of strategies and asset classes including listed equities, fixed income, commodities, foreign exchange, alternative assets and private equity,” the firm says on its website.
Soros’ net worth is estimated at $8.5 billion as of February 14. Bloomberg Billionaire Index, is well known for pouring money into charity. Most of his company’s assets belong to the Open Society Foundations, which support “people around the world working for justice, fairness and free expression.”
https://www.thestreet.com/electric-vehicles/billionaire-george-soros-confirms-huge-bet-on-tesla-and-elon-musk Billionaire George Soros confirms huge bets on Tesla and Elon Musk