Why Apple CEO Tim Cook Once Rejected Elon Musk's Offer To Acquire Tesla
Tesla could today have been owned by tech giant Apple if Tim Cook had not rejected a meeting with Elon Musk a few years ago. Elon Musk himself revealed this through a tweet.
"Tesla will one day be valued more than Apple and Saudi Aramco combined". That¡¯s what Elon Musk said a few months ago. But the billionaire could not have said the same a few years ago, when he himself wanted to sell Tesla to Apple.
Yes, you read that right. Tesla could today have been owned by tech giant Apple if Tim Cook had not rejected a meeting with Elon Musk a few years ago.
Elon Musk's Offer During Tesla's Darkest Days
thestreet
Elon Musk himself revealed this through a tweet in 2020. During the ¡°darkest days¡± of Tesla¡¯s Model 3 rollout, CEO Elon Musk wanted to meet Tim Cook for a possible acquisition, but the latter refused to take the meeting, as per The Verge report.
Doh!!!! And THANK ELON, he didn¡¯t accept! pic.twitter.com/1jIQoB6AWm
¡ª Keith808 (@keith31345919) December 22, 2020
A few months later, Tim Cook shared more about the events surrounding Musk¡¯s claims.
Tim Cook said, "You know, I¡¯ve never spoken to Elon. And there are lots of companies out there that we could¡¯ve bought from at different times, probably. But I feel really good about where we are today." I don¡¯t remember it being like that. But he said that he did, and so I assume that that¡¯s correct, he added.
Also Read: Apple CEO Tim Cook Takes 'Voluntary' Paycut Of 50% For 2023
Did Musk Wish To Become Apple CEO?
indiatimes
The year after Musk revealed the meeting Tim Cook rejected, the Tesla CEO also clarified a rumour that was doing the rounds. It was rumoured that Elon Musk reportedly demanded to become Apple¡¯s CEO in a 2016 phone call with Apple CEO Tim Cook, as per the report.
But Musk and Apple both mentioned that the conversation couldn¡¯t have happened because Musk and Cook have never spoken. In a tweet in 2021, Musk clarified the same: "Cook & I have never spoken or written to each other ever." He also said that he attempted to meet with Cook about Apple acquiring Tesla, a meeting that Cook refused.
Cook & I have never spoken or written to each other ever.
¡ª Elon Musk (@elonmusk) July 30, 2021
There was a point where I requested to meet with Cook to talk about Apple buying Tesla. There were no conditions of acquisition proposed whatsoever.
He refused to meet. Tesla was worth about 6% of today¡¯s value.
"Tesla Will One Day Be Bigger Than Apple & Saudi Aramco"
About 7-8 months ago, in October 2022, Elon Musk made a bold prediction.
afp
Elon Musk said that he sees Tesla becoming bigger than the combined valuation of Apple and Saudi Aramco one day. And no, this is not the first time he has said so!
After releasing Tesla¡¯s quarterly results a couple of days ago on Wednesday, Musk discussed Tesla's valuation.
As per the Apple Insider report, "A while ago," Musk said, "I said on an earnings call that I thought it was possible for Tesla to be worth more than Apple, which was worth (around) $700 billion at that time."
A "while ago" refers way back to May 2017. At that time, Apple was worth $772 billion, and Tesla trailed at $51 billion. Apple is currently valued at $2.62 trillion and is considered the most valuable company in the world. Saudi Aramco has a market cap of $2.06 trillion currently, while Tesla has $505 billion.
Elon Musk continued, "Now I'm of the opinion that we can far exceed Apple's current market cap. I see a path for Tesla to be worth more than Apple and Saudi Aramco combined."
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