In early 2022, a chance meeting between Bill Gates and Elon Musk led to an unexpected dialogue. Both iconic figures in the tech world, came together to discuss philanthropy and climate action. Musk, driven by tax considerations, had recently committed $5.7 billion to his charitable fund. Gates, who had shifted his focus primarily to philanthropy, had a wealth of suggestions to offer.
Despite having crossed paths occasionally before, this interaction took a more purposeful turn. Gates suggested a meeting to delve into these topics further, and Musk, known for his direct approach, agreed. Their encounter was set up in Austin.
One remarkable aspect of this encounter was Musk’s assertion that he had no personal scheduler or assistant. He had chosen to eliminate these roles to retain complete control over his calendar, a decision that stood in contrast to Gates’ structured approach. This straightforward arrangement allowed Gates to communicate directly with Musk about their meeting.
Their rendezvous in Austin included a tour of Musk’s factory, where discussions on various topics led to differences in opinion. Gates questioned the viability of batteries for powering large semitrucks and the significance of solar energy in addressing climate change. Musk’s dedication to Mars exploration also came under scrutiny, with Gates finding it somewhat perplexing.
However, despite their differing viewpoints, Gates acknowledged Musk’s profound knowledge of the factory’s intricacies and the impressive accomplishments of SpaceX, particularly the Starlink satellite constellation, which piqued Gates’ admiration.
Their conversation eventually shifted towards philanthropy. Musk expressed skepticism about the impact of most charitable endeavors, believing that only a fraction of the donated funds truly made a difference. In contrast, Gates outlined five substantial philanthropic projects, each worth $100 million, ranging from refugee aid to combating diseases and addressing climate change.
There was, however, one contentious issue to address during their meeting. Gates had previously shorted Tesla stock, betting that its value would decrease—a bet that ultimately proved wrong, resulting in a significant loss of $1.5 billion. Musk, known for his aversion to short-sellers, was unimpressed with this revelation. Gates apologized, but Musk remained critical, a reflection of their differing mindsets.
Gates’ rationale for shorting Tesla was based on a calculated prediction that the supply of electric cars would outpace demand, leading to price drops. Musk, on the other hand, believed strongly in the mission of transitioning to electric vehicles and had invested his resources accordingly. He viewed Gates’ approach as hypocritical, considering Gates’ purported commitment to combatting climate change.
The exchange continued even after their meeting, with Gates sending Musk a paper outlining various philanthropic options. Musk’s response included a pointed question about Gates’ remaining short position against Tesla. This led to further tension, with Musk expressing skepticism about Gates’ commitment to climate philanthropy while holding such a position.
Their disagreement escalated on social media, with Musk taking a jab at Gates’ physical appearance, albeit in a lighthearted manner. Despite these exchanges, Gates maintained a more diplomatic stance, recognizing Musk’s contributions to science and innovation.
In the end, their encounter highlighted the contrasting approaches of two tech titans, with their differing philosophies on philanthropy and finance taking center stage.