Bill Ackman Drives a Tesla: Here's Why He Won't Buy the Stock

The article argues that Bill Ackman avoids buying Tesla despite liking the company’s products and driving one, because Tesla’s valuation depends on highly uncertain future bets such as robotaxis, autonomous driving, and humanoid robots. Ackman prefers businesses with predictable long-term cash flows, which he says Tesla lacks at its current price. The piece contrasts Tesla’s rich valuation with its recent delivery growth and notes that the stock trades at more than 200 times forward earnings and about 15 times sales. It also explains why Ackman is more comfortable owning Amazon, Microsoft, and Meta: their cloud, AI, and ad businesses have clearer visibility, massive contracted revenue/backlog, and currently more reasonable valuations. Market-wise, the article reinforces a cautious stance on TSLA, especially after a sharp decline mentioned in the story, while framing large-cap AI platforms as more defensible investments.