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?”
Palihapitiya said that Tesla was a “distributed energy business” and that Musk was figuring out a way to harness energy, store it, and use it to help people to be productive and fight climate change.
“I tweeted this a while ago that I thought the world’s first trillionaire would be a person fighting climate change,” Palihapitiya said. “It very well could be Elon. But if it’s not him, it’ll be somebody like him. It will be because of this: Delivering clean energy, allowing the world to be sustainable, is an incredibly important thing that will be rewarded by markets and individuals.”
Palihapitiya added that that the power-utility business was ripe for disruption and that there are “trillions of dollars of bonds, of capex, of value sitting inside the energy-generation infrastructure.” When those are harnessed, Tesla will double and triple again, he said.