{"id":12571,"date":"2024-01-24T00:46:06","date_gmt":"2024-01-23T23:46:06","guid":{"rendered":"https:\/\/www.ceoinfluencers.com\/?p=12571"},"modified":"2024-01-24T00:46:06","modified_gmt":"2024-01-23T23:46:06","slug":"did-elon-musk-buy-coke-a-cola","status":"publish","type":"post","link":"https:\/\/www.ceoinfluencers.com\/did-elon-musk-buy-coke-a-cola\/","title":{"rendered":"Did Elon Musk Buy Coke A Cola"},"content":{"rendered":"
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Did Elon Musk buy Coke a Cola? The answer is both yes and no. Elon Musk has a significant stake in Coca-Cola, the beverage company, but not for his own purchases. Instead, his Tesla Motors electric vehicle company purchased 1.7 million shares of Coke for $520 million during the fourth quarter of 2019. That made Tesla owning $1.3 billion of Coke.<\/p>\n

This news shocked many people, and no one expected Elon to make such a bold move. The reason cited was that Tesla wanted to diversify its investments, and Coke was seen as a safe bet. Since Musk’s Tesla owned $1.3 billion of Coke’s shares at that time, it was reported that he owned a 9.2% stake in the company. <\/p>\n

At the time, many financial experts praised this decision as a smart move. They argued that Coca-Cola is a valuable, steady, and consistent long-term holding. As the company has a strong brand and proven track record, it is unlikely that the stock will take a sharp turn downwards. Warren Buffett, one of the world’s most famous investors, also held a large stake in Coke at that time, which was seen as a further validation for Musk’s purchase.<\/p>\n

Despite receiving praise from financial experts, some people criticized the purchase. They argued that it was an irresponsible use of Tesla’s cash, and that the company would have been better off investing in new technology or other areas of the business. They felt that Musk was only interested in making short-term profiting and didn’t have a clear vision of where the company was headed in the long-term.<\/p>\n