Tesla founder and CEO Elon Musk said in a tweet he thinks recession could continue until spring of 2024.
“Just guessing, but probably until spring of ’24,” Musk responded on Twitter early Friday.
A tweet from Dogecoin co-creator Billy Markus saying “all we have to worry about now is the impending global recession and nuclear apocalypse,” started a Twitter exchange involving the world’s richest man.
Musk responded “it sure would be nice to have one year without a horrible global event,” before being asked by the Tesla Owners Silicon Valley Twitter account how long he thought the recession would last.
Musk’s comment came amid a rough week for Tesla as the EV maker missed revenue estimates and said a potential delivery shortfall this year is likely.
Shares of Tesla lost 6.6% to close at $207.28 on Thursday, a day after Musk said on a conference call that the weakness in China and Europe was causing demand to fall.
In a tweet Wednesday, billionaire Jeff Bezos shared a video of Goldman Sachs CEO David Solomon saying he thinks there’s a “good chance” of a recession in the U.S.
JPMorgan Chase CEO Jamie Dimon also has been warning of economic turmoil ahead.
After growing 6% in 2021, global GDP is expected to decelerate to 3.2% this year and 2.7% in 2023, according to the International Monetary Fund. That would mark the weakest pace of growth since 2021.