Rumors circulated that Elon Musk had acquired the historic Ford Motor Company, sparking concerns about a potential monopoly in the automotive industry. However, Ford has denied these claims, stating that they are “totally false.” The rumors originated from AI-generated YouTube videos lacking credible sources and repeating facts about Musk, Tesla, and Ford.
Musk’s recent purchases of Twitter and his support for Donald Trump’s presidential campaign have led to speculation about potential profits. Tesla’s stock has risen following the election, while SpaceX achieved a successful launch and retrieval of its Starship rocket. Despite these successes, buying Ford is a vastly different scenario from his previous acquisitions.
Ford has been a rival to Tesla in recent years, with models like the F-150 Lightning and Mustang MachE competing with Tesla’s offerings. An acquisition would eliminate this rivalry but give Musk a significant market share. Founded in 1903, Ford has produced over 4.4 billion vehicles, while Tesla was founded in 2003 and has produced around 6 million.
It appears that Elon Musk can manage his existing ventures without adding the Ford Motor Company to his portfolio. With multiple companies under his umbrella, including X, SpaceX, and the Boring Company, it’s unclear what the future holds for him.
Source: https://www.mysanantonio.com/business/article/elon-musk-ford-acquisition-19900620.php