Elon Musk acknowledges SpaceX and Tesla’s inflation risk

elon musk
Credit: Tesla

Elon Musk noted that Tesla and SpaceX are seeing significant inflation pressures on their business lines in a tweet thread.

It is no surprise, as commodity prices are soaring due to the current situation in Ukraine.

Whether are talking oil, grain or other main commodities, the entire market is up to record levels.

Elon evidently wanted to start a conversation, as he probed Twitter for thoughts about probably inflation rate over the next few years.

It is an interesting time for both Elon and his companies. Alongside record gains, they face increasing supply chain and material costs.

Musk also provided some advice to his Twitter followers.

He noted that it is better to own physical things like a home or stock in companies that make good products than dollars when inflation is high.

He also confirmed that he still owns Bitcoin, Ethereum and Doge and will not sell his cyrptocurrencies anytime soon.

About Scott Nordlund 1248 Articles
Originally from the West Coast, Scott is an avid writer & EV enthusiast now living in Ottawa. He holds a MA in Political Science and once played professional football in the German Football League. Email scott@driveteslacanada.ca