George Soros Fund Down More Than $1 Billion and Falling on Investment into Tesla Competitor Rivian Joining Ford Motor Co. in the ‘Bloodbath’

Leftist social justice investor George Soros appears to be holding tight to his 20 million shares of Rivian (RIVN), according to Q1 filings for 2022. We are unable to verify if he has made any moves since March 31st of this year.

In the last quarter of 2021, Soros invested over $2 billion in Rivian, acquiring 20 million shares. The price of the stock has dramatically fallen since he acquired those shares. The Q1 filing shows he hasn’t sold any of the shares and has even placed a bullish call option on Rivian. Meanwhile, Ford has started to sell off some of its shares of the electric vehicle maker, locking in some losses in its investment.

CNN Business has a median price target of $52 projected, this is more than 20 dollars below Rivian’s IPO price of $78 per share, and farther below recent highs.

Rivian delivered 1,227 vehicles in the first quarter of this year and has produced 2,553 vehicles in the same quarter. According to the company’s Q1 10-k filing, they don’t expect to turn a profit for some time.

“We do not expect to be profitable for the foreseeable future as we invest in our business, build capacity, and ramp up operations, and we cannot assure you that we will ever achieve or be able to maintain profitability in the future,” they shared in the filing.

However, Elon Musk’s company Tesla is profitable. Some leftist activists like Bill Gates short sold the company instead of investing in the profitable EV carmaker. It seems to be clear with all the backlash from the left Musk has faced for his move to purchase Twitter and take it private, that he didn’t fit in with the “elitist left” and they are placing their money elsewhere, even if it means losing billions of their own dollars just to “own” Mr. Musk.

Musk spoke out against George Soros and Bill Gates recently as well, in addition to criticisms he has had of META’s Mark Zuckerberg and Amazon’s Jeff Bezos.

Elon Musk Appears to Take Swipe at the Amount of Power Mark Zuckerberg Holds in the Social Media World

Elon Musk Trolls Mega Land Owner Bill Gates, Claims Text Screenshots Posted by Twitter User with Gates About Tesla Short are Real

Elon Musk Joins Ranks of Washington Post Critics With New Tweet Insulting Bezos’ Left-Leaning Newspaper: ‘Their Insults Could be Higher Quality’

Musk recently tweeted this:

“Who funds these organizations that want to control your access to information? Let’s investigate …

Interesting. I wonder if those funding these organizations are fully aware of what the organizations are doing.”

Interesting. I wonder if those funding these organizations are fully aware of what the organizations are doing. https://t.co/YzVZIvF68E

— Elon Musk (@elonmusk) May 4, 2022

It’s hard to say what Soros plans to do with his Rivian investment. The entire stock market has been close to bear market territory. Musk has lost lots of implied value in his own stocks, but profitable companies are more likely to recover more quickly in the stock market during a rising interest rate environment.

We are not financial analysts and do not recommend you make any investment decisions based on our articles. Please seek a financial advisor for investment advice.