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“I wouldn't bet against Elon Musk,” says Morgan Stanley's CEO. He thinks Twitter is a great company and Musk is an “extraordinary executive,” which is why his firm backed the purchase of the platform.
While Elon Musk continues to face a wave of criticism and skepticism about his purchase of Twitter, several respected and popular names have supported him in this. Netflix co-founder and co-CEO Reed Hastings called him “the bravest, most creative person on the planet” during the New York Times DealBook conference. Now Morgan Stanley investment firm CEO James Gorman praised Musk for his exceptional capabilities during his talk at a Reuters conference in New York on December 1.
“I wouldn't bet against Elon Musk,” Gorman said Thursday according to Bloomberg's report, calling Twitter “a great company” and Musk “an extraordinary executive.” In addition, he spoke about his past visit to the Tesla factory in Fremont, California.
Morgan Stanley was one of the banks that provided Musk with $13 billion of debt to buy Twitter. Gorman said it was a well-calculated move because institutions like his would never support a business that was not profitable. “Institutions like ours are not stupid. We don't get behind that kind of business and that kind of opportunity unless it's real -- and it's very real,” he said.
Gorman considers Musk to be on par with Steve Jobs and Bill Gates among the most interesting entrepreneurs of the past 50 years. “Who would not want to do business with a person who has that kind of capability? Shame on an institution who'd walk away from that.”
© 2022, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.