George Soros did not short Tesla stocks. In fact, he had invested in Tesla shares but recently sold his entire stake in the company[1].
Soros Fund Management, George Soros’ hedge fund, had acquired Tesla shares gradually since the second quarter of 2022. By December 31, 2022, Soros held 132,046 Tesla shares valued at nearly $16.27 million[1]. However, according to recent regulatory filings, Soros liquidated all of his Tesla shares as of March 31, 2023[1].
It’s worth noting that Soros’ investment in Tesla was not particularly lucrative. Depending on the timing of his purchases and sales, estimates suggest he could have earned up to $3.8 million in the best-case scenario or lost up to $26.2 million in the worst-case scenario[1].
Contrary to shorting Tesla stocks, Soros had actually increased his stake in the company during a period when Tesla’s stock price was experiencing significant declines. Tesla shares lost 65% of their value in 2022, yet Soros continued to acquire shares during this time[1][3].
The recent sale of Tesla shares by Soros comes amid ongoing controversies surrounding Tesla and its CEO, Elon Musk. There have been protests against Tesla, which Musk has claimed are funded by George Soros, among others[2][4]. However, these claims appear to be unsubstantiated and are likely a response to the growing criticism and challenges faced by Tesla and Musk.