12 Best Fortune 500 Stocks to Buy According to Billionaires

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9. Tesla Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 104

Dollar Value of Billionaire Holdings: $8 billion

Number of Billionaire Investors: 21

Tesla Inc. (NASDAQ:TSLA) is one of the best Fortune 500 stocks to buy according to billionaires. On June 20, Tesla announced that the company is set to enter the Indian automobile market, with its first showrooms expected to open in July this year. The initial launch will see showrooms in Mumbai, anticipated by mid-July, followed by another in New Delhi.

The move marks an expansion for Tesla into the world’s third-largest automobile market, particularly as the company seeks new avenues for growth amid declining sales in Europe and China. The first batch of Tesla vehicles for the Indian market has already arrived, which consists of Model Y rear-wheel drive SUVs shipped from Tesla’s factory in Shanghai, China. The Model Y is globally recognized as the best-selling electric car.

Accompanying the vehicles, Tesla has also imported Supercharger components, car accessories, merchandise, and spare parts from the US, China, and the Netherlands to support its Indian operations. The company has secured showroom spaces in premium business districts, with one location finalized in Mumbai’s Maker Maxity at Bandra Kurla Complex/BKC and another in New Delhi’s Aerocity area.

Tesla Inc. (NASDAQ:TSLA) designs, develops, manufactures, leases, and sells electric vehicles, along with energy generation and storage systems.

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