Elon Musk Doubles Down On Recession Fears, Says It Is 'Inevitable'
Recession fears plague Wall Street and the country as a whole, and billionaire Elon Musk's comments do not address those concerns.
In an interview with Bloomberg on Tuesday at the Qatar Ido Forum in Doha, the CEOs of Tesla and SpaceX said there could soon be an economic downturn.
"The economy is on the verge of collapse," he told Bloomberg News. "If there's an economic downturn in the near future, it's probably going to be...uncertain, but it looks like it."
Related "must go"
At the end of May, Musk, one of his followers, took to Twitter to ask if the United States was on the verge of collapse.
"Yes, but it's really good, he said with a certain optimism. It's been a long time before the fools. There must be losses."
Mock went on to say that he expects the economy to suffer over the next 12 to 18 months and companies need to reduce negative cash flow for that to happen.
Billionaire BP CEO Jamie Dimon warned earlier this month that an economic "hurricane" could be looming due to inflation and rising interest rates.
"We don't know if this is a minor hurricane or Hurricane Sandy," he said at the financial conference. "I better protect myself."
RELATED: Tesla Cuts 10% Staff, Elon Musk Says 'Bad Feeling' About Economy
Musk himself is feeling the pressure - in early June he wrote to Tesla employees that he was "very sad" about the state of the economy and that he planned to cut 10% of the company's total workforce 'company.
a d. By the end of 2021, Tesla will employ 99,290 people worldwide by the end of the year.
Copyright 2022 Entrepreneur.com Inc., All Rights Reserved.This article originally appeared on enterprise.com
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