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TRENDING: Long-term investment advice from Elon Musk

by Shailee Mishra

Date & Time: May 02, 2022 5:00 PM

Read Time: 2 minute

Elon Musk, the CEO of Tesla, is the world's richest man, so it's no wonder that he's frequently approached for financial advice.

Who is Elon Musk?

Elon Musk is the CEO and creator of Tesla, an electric vehicle manufacturer, and SpaceX, a private space technology company. After Tesla's stock soared during the COVID-19 pandemic, he is the world's richest man. Musk's net worth surpassed $188.5 billion in January, surpassing Amazon.com Inc. CEO Jeff Bezos, according to Bloomberg News. He has a 20% higher chance of winning.

On May 1, he shared some investment advice with his over 90 million Twitter followers

Elon Musk recommended people invest in firms whose products and services they support. When should they sell, and how much should they ask? Only if they believe the products of companies in which they have invested are deteriorating, according to Musk. "Don't be alarmed if the market falls," he continued. Musk assured his fans that his suggestions would benefit them in the long run.

Last week, the CEO of Tesla and SpaceX made the greatest headlines when Twitter's board of directors announced that it would sell the social network to him for $44 billion.

The globe has been greatly split as a result of this evolution. While some social media users were pleased to hear Musk declare he intended to make Twitter a safe sanctuary for free speech, others expressed concern about how modifications to the social network's regulations could affect online safety for marginalized groups.

The transaction has divided sentiments among Twitter's founders as well. Musk's takeover has been approved by Jack Dorsey, who calls him the "single solution" to the company's difficulties.

After Twitter's huge announcement, Dorsey declared, "In principle, I don't believe anyone should own or operate Twitter."

"At the protocol level, it aspires to be a public good, not a firm." However, when it comes to the issue of it being a firm, Elon is the only person I trust. I have faith in his goal to spread consciousness." Musk has been described as a "genius" by Evan Williams, who also acknowledged the polarising opinions about him.

"I believe what we're witnessing is individuals projecting either their aspirations and desires or their greatest nightmares," he remarked last week at a Fortune magazine event. "It's as if Elon and Web3 are the same people."

Also Read: Elon Musk has taken over Twitter at one go

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