The Big Short investor who predicted the 2008 housing market crash said EV maker Tesla is “ridiculously overvalued” and warned Musk’s $1 trillion pay plan will only make it worse.

Michael Burry, who last month deregistered his hedge fund Scion Asset Management, took to a newly launched Substack account to reveal a bet against Elon Musk’s Tesla.

“Tesla’s market capitalization is ridiculously overvalued today and has been for a good long time,” he wrote in a post.

Burry said Tesla dilutes its shareholders at an estimated rate of 3.6% per year thanks to the stock-based compensation it awards employees without buybacks to offset the impact. CEO Musk’s gargantuan compensation would make matters worse, he added.

The 2025 pay plan, overwhelmingly approved by shareholders last month, could giv

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