Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Musk, Argentine president see eye-to-eye on boosting free markets and lithium

Published 04/12/2024, 03:37 PM
Updated 04/12/2024, 07:06 PM
© Reuters. Argentina's President Javier Milei poses next to Tesla CEO and owner of X, Elon Musk, at the Tesla gigafactory, in Austin, Texas, U.S., April 12, 2024. Argentine Presidency/Handout via REUTERS
TSLA
-

By Eliana Raszewski

BUENOS AIRES (Reuters) - Billionaire Elon Musk and Argentina's libertarian president promised to work together on Friday to promote free markets as well as potential lithium projects after the two likeminded men met in Texas, home to the tycoon's Tesla (NASDAQ:TSLA) electric car company.

The chief spokesman to President Javier Milei said the pair visited Tesla's Austin headquarters and discussed a variety of topics, from the need to boost declining birthrates worldwide to pursuing technological development while defending "liberty."

Musk, one of the world's richest men, has previously showed his admiration for Milei's full-throated embrace of private enterprise and his distain for what he sees as socialist excesses.

In comments to local media, Argentina's incoming ambassador to the United States, Gerardo Werthein, noted that Musk and Milei also discussed lithium, the ultra-light metal seen as key for the rechargeable batteries needed for future fleets of electric vehicles.

"We talked about the investment opportunities in Argentina in lithium... We're very committed not only to exporting raw materials but also to adding value," said Werthein in comments published by newspaper La Nacion.

"(Musk) said he wants to help Argentina," added Werthein.

© Reuters. Argentina's President Javier Milei poses next to Tesla CEO and owner of X, Elon Musk, at the Tesla gigafactory, in Austin, Texas, U.S., April 12, 2024. Argentine Presidency/Handout via REUTERS

Milei also offered his support for the dispute over Musk's social media platform X, previously Twitter, playing out in Brazil, according to the statement from Milei's spokesman Manuel Adorni, which was posted on X.

Last Sunday, a Brazilian Supreme Court judge opened an investigation into Musk after the billionaire said he would reinstate X accounts that the judge had ordered blocked.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.