Jeff Bezos Denies Elon Musk’s Claims, As Rivalry Hearts Up Again

The rivalry between Elon Musk and Jeff Bezos flared up again this week after Musk accused Bezos on X.

Jeff Bezos says Elon Musk’s claims are ‘100% not true’

On Thursday, Musk alleged in a post on X that Jeff Bezos had advised people to sell their shares in Tesla and SpaceX, claiming Donald Trump would lose the presidential election. The remark stirred controversy, with Musk later backtracking slightly after Bezos denied the accusation.

Responding hours later, Bezos wrote, “100% not true.” Musk replied, “Well, then, I stand corrected,” adding a crying-with-laughter emoji to his message.

Musk’s Political Ties and Bezos’ Rebuttal

Musk, the CEO of Tesla and SpaceX, has been an outspoken supporter of Donald Trump, contributing over $130 million to his reelection campaign. He appeared at campaign rallies and has used X to warn about the risks of Trump not securing a second term, stating America could “fall to tyranny.”

Since Trump’s election victory, Musk has been frequenting Mar-a-Lago, Trump’s Florida estate. He has also been appointed to co-lead a new “Department of Government Efficiency,” tasked with reducing unnecessary government expenditure. However, Musk stated on Wednesday that he has had limited input on Trump’s cabinet selections.

Musk’s allegations against Bezos seemed to suggest the Amazon founder had anticipated that Musk’s public association with Trump might harm Tesla and SpaceX if Trump lost. Despite Musk’s claims, Tesla’s stock rose by 44% in the week following the election, reflecting investor confidence in the company’s prospects under Trump. SpaceX, which remains privately held, also saw strong performance in private trading markets.

Musk and Bezos: The Ongoing Rivalry

Musk and Bezos, two of the richest individuals globally, have a combined net worth exceeding $500 billion, according to the Bloomberg Billionaires Index. Their professional rivalry spans multiple industries, including artificial intelligence, self-driving vehicles, and space exploration, where Tesla and SpaceX face off against Amazon’s Blue Origin.

The two tech titans have also sparred publicly. Musk has previously mocked Bezos for being second on the rich list, labelled him a “copycat,” criticised Amazon for monopolistic behaviour, and expressed frustration over Blue Origin’s legal challenges to SpaceX. Musk once even posted, “Time to break up Amazon. Monopolies are wrong!”

Bezos, for his part, has voiced scepticism about Musk’s grand ambitions, including the colonisation of Mars. He has also commented that Musk’s takeover of X (formerly Twitter) might cause complications for Tesla’s business in China.

Expert Insight

Thomas Roulet, a professor at the University of Cambridge, provided insight into Musk’s potential strategy. In an email to Business Insider, Roulet wrote, “We can definitely expect Elon Musk to exploit his proximity to the Trump administration, especially in areas where he faces direct competition from other tech firms and when regulations can make or break economic success — self-driving cars, for example.”

Roulet also suggested Musk’s recent comments about Bezos could serve as a pretext for leaning on his ties with the Trump administration. “This message about Bezos is a way to give himself an excuse to legitimately do so, by saying that ‘Bezos started it,’” he added.