'Don't sell a share': Billionaire investor Chamath Palihapitiya says Tesla's stock could triple from current levels, making Elon Musk the first trillionaire
The billionaire investor Chamath Palihapitiya told CNBC on Thursday that Tesla's stock could be worth three times its current valuation, which would make CEO Elon Musk the first trillionaire.
On Thursday, Tesla shares shot up 6.9%, and Musk surpassed Jeff Bezos as the richest person on the planet.
Palihapitiya said that Tesla was a "distributed energy business" and that he'd believed for a while that the world's first trillionaire would be a person fighting climate change.
"Delivering clean energy, allowing the world to be sustainable, is an incredibly important thing that will be rewarded by markets and individuals," Palihapitiya said.
"Don't sell a share" of Tesla, he told investors.
Watch Tesla trade live here.
The billionaire investor Chamath Palihapitiya said Tesla's stock could be worth three times its current valuation, which would make CEO Elon Musk the first trillionaire.
"Don't sell a share" of Tesla, Palihapitiya told investors in a CNBC interview on Thursday. He advised investors to get behind Musk and other entrepreneurs who wouldn't bend to short-term profits and who were striving to make the world a better place.
"I don't understand why people are so focused on selling things that work," the Social Capital CEO added. "When things are working, you're paid to stay with people that know what they're doing. And this is a guy who has consistently been one of the most important entrepreneurs in the world. And so why bet against him?"
Musk surpassed Jeff Bezos as the richest person on the planet on Thursday. Tesla shares shot up as much as 6.9%, to $808.69, boosting the net worth of its CEO to about $186 billion.
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