Bezos, Musk… American billionaires warn of the risk of recession

Elon Musk and Jeff Bezos, the two richest people on the planet, who usually disagree on much, have both expressed concern over a possible recession, as CNN spotted. . On October 19 in a tweet, the boss of Amazon commented on a video of the CEO of Goldman Sachs in which he claimed that there were big risks that a recession was looming on the horizon. For Jeff Bezos, it’s time “to batten down the hatches”.

Elon Musk, for his part, sounded a little more optimistic as he sought to allay Wall Street concerns about Tesla’s growth prospects. During a phone conversation with analysts on Wednesday evening, the billionaire struck a confident tone, saying the company could count on “excellent” demand for the next quarter and that factories were running at full capacity. Not enough to reassure, since Thursday, Tesla shares fell 7% at the start of the session despite a near record profit in the third quarter. Analysts and investors are concerned about Tesla’s ability to sustain growth in the face of logistical problems and runaway inflation.

READ ALSO

Stock market could “easily” fall 20%, risk of global recession by summer 2023 according to JPMorgan

Elon Musk and Jeff Bezos aren’t the only powerful businessmen to have raised concerns about a worsening economy. Earlier this month, Jamie Dimon, the billionaire head of JPMorgan Chase, spooked the entire stock market by predicting that a recession could hit the United States within six to nine months. Fears shared by the world of culture as well. Actress Gwyneth Paltrow told The Hollywood Reporter she was losing sleep over it. “The economy sucks. I’m just worried about next year and how bad the recession is going to be.” A worry that is not disproportionate when you know that experts, relayed by CNN, recently estimated the probability of a global recession at just over 98%.

READ ALSO

The boss of the IMF is sounding the alarm over the growing risk of recession