Elon's Multi-Billion Dollar Tweet
Updated: May 6
BY: Telha Chohan
Multi-billionaire Elon Musk is known for having innovative ideas and ambitious goals to help human evolution. From powering houses with solar roof panels to his plan to colonize Mars, he is renowned for his ability to think outside the box. For example, Musk wanted a simpler and faster payment method and thus co-created PayPal. He created Tesla as a more sustainable way to drive a car. He founded SpaceX as a means of more accessible space travel. He created the hyperloop to push the boundaries of vehicle speeds on Earth.
Musk recently made a power move that cost shareholders billions. “Tesla stock price is too high imo,” he tweeted recently. As he is a majority Tesla shareholder with 22%, this caused the market value of Tesla to drop 14 to 15 billion dollars. On the same day, he also tweeted that he is, “selling almost all physical possessions and will own no house”. As his properties are valued at 100 million USD.
Knowing that Tesla’s shares would fall drastically due to his tweet, Musk can use this to his advantage by accumulating more liquid assets in order to buy more shares at a much lower cost in order to gain a higher percentage in his personal company shares, this may have been his end goal all along.