Billionaire George Soros bets on Tesla, Ford stocks

Regulatory data revealed that the investment fund of the American billionaire, George Soros, acquired stakes in the electric car maker “Tesla” led by billionaire Elon Musk, and the “Ford” company led by Jim Farley.

The American billionaire was a prominent investor in emerging electric car makers, including Lucid Motors and Rivian.

The company disclosed that it acquired 29,883 shares of Tesla, according to a regulatory document filed with the Securities and Exchange Commission on August 12, indicating its holdings of the shares traded in the United States as of June 30. That stake was valued at just over $20.1 million at the time. But its value has already risen since Tesla’s stock jumped nearly 34%, according to The Street.

Meanwhile, Soros’ investment fund bought 29.5 million shares of Ford stock. Ford aims to produce two million electric cars by 2026.

It is worth noting that George Soros is a Hungarian-American billionaire, investor and philanthropist, and a Fellow of the British Academy. His net capital was $8.6 billion as of March 2021, after he donated more than $32 billion to civil society organizations, of which $15 billion has already been distributed, representing 64% of his original wealth.