This Is What Elon Musk Said About Wealth Creation Tesla CEO Elon Musk doled out some financial advice on his Twitter handle on May 1. And when the world's richest man gives tips on wealth creation, we listen.
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Tesla CEO Elon Musk doled out some financial advice on his Twitter handle on May 1. And when the world's richest man gives tips on wealth creation, we listen.
This is what Musk said in his tweet to his 89.9 million followers:
Since I've been asked a lot:
Buy stock in several companies that make products & services that *you* believe in.
Only sell if you think their products & services are trending worse. Don't panic when the market does.
This will serve you well in the long-term.
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A few more tweets like these and he could easily hand out an e-book on investment advice which will rise to the top of the bestseller list in no time. Of course there will be different takes on his investment advice too, just like there are on different aspects of his life. The most polarizing one was his recent decision to take over Twitter for $ 44 Billion. Social media erupted in a frenzy discussing how it would be detrimental for the world at large if someone like him heads the social media platform, while others being in support of his takeover.
The fears aren't unfounded, as Musk is a free speech absolutist, meaning that marginalised groups could face hate during his reign, but that is something only time will tell. His supporters, however, were none other than Twitter founder Jack Dorsey, who claimed Musk was the "singular solution' for the company.
Musk found another supporter in founder & CEO of Zoho Corp, Sridhar Vembu. In an interview to ET, Vembu said that Twitter was limiting itself due to all the "virtue signaling' and ideological affiliation, because of which anyone with a different viewpoint may not have their thoughts aired properly. Referring to Musk as a "great visionary' Vembu said he agreed with Musk's thoughts on free speech.