Have I mentioned our general "Don't short Tesla" admonition?*
From Business Insider:
- Oracle cofounder Larry Ellison has scored a $12 billion gain on his Tesla investment.
- The technology billionaire bought the equivalent of 15 million shares in Elon Musk's automaker before joining its board in December 2018.
- Ellison's stake has ballooned in value from about $1 billion to $13 billion since then.
- Musk is close friends with Ellison and visited him on his Hawaiian island in December.
Oracle cofounder Larry Ellison has racked up a $12 billion gain on his Tesla stock in just over two years.
The software giant's technology chief and former CEO purchased the equivalent of 15 million shares in Elon Musk's electric-vehicle company before joining its board in December 2018.
Tesla's stock price has surged about 1,200% since then, boosting the value of Ellison's roughly 1.6% stake from around $1 billion to more than $13 billion.
Ellison is Tesla's second-biggest individual shareholder after Musk. He revealed his bet on the automaker was his second-largest investment during a call with Oracle analysts in October 2018.
The tech billionaire also described Musk and himself as "very close friends" on the call. Indeed, Musk flew to Lanai - Ellison's Hawaiian island - last month to get some advice from the Oracle executive....
....MORE
Here are a couple posts from a year ago:
January 13, 2020I Know We Have A General "Don't Short Tesla" Rule But Man.... (TSLA)
The stock is up $39.86 (+8.34%) at $518.01. [103.60 x 5:1 split]
We have a few hundred posts on Tesla, going back to before the IPO including some thoughts* on shorting TSLA.
Some links after the jump.
From TechCrunch:....MUCH MORE
And:
Elon Musk Says Tesla Will Host Hackathon at his House, Stock Jumps (TSLA)
The stock is up 10.75% (+$69.93) at $720.50.
The stock isn't up because of the hackathon, I don't know why the stock is up.
Here's the story at Yahoo:
Elon Musk says Tesla will host hackathon at his house
A young man asked me this morning pre-market if it was a sign when the world's 7th richest person, Oracle's Larry Ellison bet a billion cash on TSLA back in 2018.
I told him we thought it was important enough to note on the blog:
December 28, 2018
Oracle's Larry Ellison To Join Tesla's Board (TSLA)
The stock is up five bucks, $321.43 last.but not that important.
That may have been an inaccurate interpretation.
Mr. Ellison's net worth is estimated by Forbes to be $66.9 billion, up $1.2 billion this morning.
Mr. Musk's net worth is now estimated at $37.1 billion up $2.3 bil. on the day and moving him into the #26 spot.
For what it's worth, the "Tesla to$4000$6000" lady now says $7000.
If that happens Mr. Ellison's 3 million shares would be worth $21 B and Elon would be the richest person in the world and approaching Fugger and Mansa Musa as the richest of all time.
Today the stock is the equivalent of $4184 and Mr. Musk is the richest person in the world.
And someday our "Don't short Tesla" will change, but not today.
