Elon Musk, the CEO of EV maker Tesla (TSLA), said the U.S. has benefited greatly from Indian talent, but warned that the H-1B visa program is sometimes misused. On a podcast with Indian entrepreneur Nikhil Kamath, Musk explained that some companies use the program to hire foreign workers at much lower pay than Americans. However, he said that his companies use H-1B visas only when they can’t find enough skilled workers in the U.S.
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His comments came shortly after President Donald Trump raised the H-1B visa fee to $100,000, a change that mainly affects Indian workers, who make up over 70% of the program. Furthermore, Musk said that he strongly disagrees with the idea of shutting down the H-1B program, and called it a “very bad” idea. He also noted that Trump recently softened his stance after saying in a Fox News interview that sometimes foreign workers are needed when the U.S. lacks certain skills.
Separately, Musk said he raised his concerns about tariffs with Trump to try to avoid them, but wasn’t able to change his mind. In addition, he shared some bold predictions about the future. Interestingly, Musk believes that within 20 years, most people won’t need to work unless they want to, and that money might even disappear. Instead, he sees energy as the real currency, linking this idea to bitcoin, which he said is “based on energy.” Musk added, “You can’t legislate energy.”
What Is the Prediction for TSLA Stock?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 13 Buys, 11 Holds, and 10 Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $383.04 per share implies 9.7% downside risk.
