Elon Musk predicts mild 18-month recession, teases share buybacks


Tesla CEO Elon Musk gestures as he visits the construction site of Tesla’s Gigafactory in Gruenheide near Berlin, Germany, August 13, 2021.

Patrick Pleul | Reuters

At the Tesla 2022 shareholders’ meeting on Thursday, investors asked CEO Elon Musk how the company plans to spend its money in coming years, and about his global economic outlook.

Musk joked that “making macroeconomic prognostications is a recipe for disaster” but nonetheless estimated that “we are past peak inflation” and likely to see a “relatively mild recession,” lasting for about 18 months.

The CEO based his economic analysis on the commodity prices Tesla is being asked to pay for materials and goods it needs to make electric…


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