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Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

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TechElon Musk

LinkedIn cofounder Reid Hoffman says he needed security after Elon Musk formed a ’conviction with no evidence’ that he was close with Jeffrey Epstein

Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
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Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Reporter
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December 17, 2024, 1:07 AM ET
LinkedIn cofounder and venture capitalist Reid Hoffman.
LinkedIn cofounder and venture capitalist Reid Hoffman.Kimberly White—Getty Images for WIRED
  • <strong>LinkedIn</strong> cofounder Reid Hoffman said he has had to hire security thanks to baseless suggestions Elon Musk has made that Hoffman was a client of sex offender Jeffrey Epstein.

LinkedIn cofounder Reid Hoffman said he had to beef up his security thanks to conspiracy theories spread by his former friend Elon Musk. Hoffman, who was part of the “PayPal Mafia” with Musk, now alleges his former colleague is “immoral and irresponsible,” he told The Sunday Times of London.

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Part of the reason for his change in attitude is because the Tesla CEO has repeatedly linked Hoffman with Jeffrey Epstein, the New York financier who was charged with sex trafficking dozens of minors in 2019 before he died by suicide in a jail cell while awaiting trial on the charges.

In an interview with former Fox News host Tucker Carlson earlier this year, Musk said that Democratic donors such as Bill Gates and Hoffman—who backed Vice President Kamala Harris’ campaign for president—are “terrified” that President Trump will publish Epstein’s client list. In the interview, Musk specifically called out Hoffman.

“Yeah, he’s terrified of a Trump victory,” Musk said. Carlson then questioned whether Hoffman is afraid “because of the disclosure that would follow?” Musk replied: “He’s certainly ideologically not aligned with Trump anyway, but I think he is concerned about the Epstein situation. Something might actually—the DOJ [Department of Justice] might actually move forward.” 

There is no evidence that Hoffman was a client of Epstein’s. The Wall Street Journal reported that years ago Hoffman met with Epstein to raise funds for the Massachusetts Institute of Technology. He reportedly told the Journal he regrets the interaction.

Hoffman, in the interview with the Sunday Times, labeled Musk’s claims about him as a “conviction with no evidence,” and added that he “went to no Epstein parties” and “didn’t even know who he was.” Thanks to Musk’s allegations, though, Hoffman has had to hire more security.

“Elon’s defamation makes me angry and sad,” he told The Sunday Times. “Angry because it is an ugly assault. Sad because it comes from someone whose entrepreneurial achievements I continue to admire.”

Hoffman’s chief of staff Aria Finger told Fortune that Hoffman declined to comment further.

In addition to Musk’s interview comments, the SpaceX founder has also called Hoffman out on his social media platform X.

“When [sic] is there not one – just one – even *attempted* prosecution of that Epstein (Bill Gates & Reid Hoffman come to mind) client list. Either FBI does their duty or the case for an entire departmental reset or abolishment is strong,” Musk wrote in a July post on X.

Musk’s comments led the LinkedIn cofounder to receive threats, Hoffman claimed. 

“It’s hard when someone is generating completely slanderous lies that end up resulting in crazy Maga [Make America Great Again] people sending you threats of violence,” Hoffman told The Times.

Hoffman previously defended Musk when the latter was attacked by Trump in 2022. 

At a rally in July of that year, Trump called the Tesla CEO “another bullshit artist.” Hoffman responded by saying Musk’s was the classic American immigrant story, and lauding him as “an entrepreneur with a real record of success.” 

In this election cycle, Musk and Hoffman found themselves on opposite party lines. While Hoffman endorsed and donated millions to support Harris’ presidential bid, Musk backed Trump with $250 million, ultimately helping him land an advisory position as co-lead of the Department of Government Efficiency (DOGE) after Trump won the election in November.

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Marco Quiroz-Gutierrez
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Marco Quiroz-Gutierrez is a reporter for Fortune covering general business news.

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