How To Get Rich The Easy Way – Elon Musk

How To Get Rich The Easy Way – Elon Musk

Elon Musk, the CEO of electric vehicle company Tesla and aerospace company SpaceX, has given a simple piece of investment advice to investors around the world. The billionaire investor and business magnate said his recommended investment strategy, which many noted is similar to the one adopted by billionaire investor Warren Buffett, will serve investors well in the long term. Musk’s advice to investors is simple but quite brilliant and effective.

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On Sunday Tesla’s CEO dropped his recommended investment strategy to his over 90 million followers on Twitter. The billionaire investor noted that he had been asked about it a lot. In his tweets Musk stated that investors should buy stock in several companies that make products and services they believe in. He added that such stocks should only be sold if they begin to trend worse. Here is the billionaire’s tweet:

At the time of writing, the Tesla CEO’s tweet has over 1.1 million likes and over 113,000 retweets. It also has tens of thousands of mixed responses. Some Twitter users said they found the investment strategy helpful. However, others did not really take well to his suggestion. Some members of this group pointed out that severely overvalued investments should not be held for the long term and that not all market reactions should be ignored.

Others noted that Musk might be warning investors that something is wrong with his Tesla stocks. For the crypto community members who are already used to high volatility, Musk’s suggestion was well received. The Microstrategy’s Michael Saylor had a simple one-word reply to Musk’s tweet. His tweet simply reads:

Several other cryptocurrency investors also said they have been supporting the crypto projects they believe in regardless of market conditions. Some other Twitter users also noted that the billionaire’s investment strategy is similar to Warren Buffett’s value investing strategy. Earlier during the weekend, Buffett talked extensively about the value of investing while also explaining why he is not investing in cryptocurrencies.

Others that commented on Musk’s post also shared beliefs that Musk is using the strategy in his bid to buy Twitter. This might be a little bit of an overstretch, as Musk tweeted something similar earlier in March while talking about inflation. Here is the tweet:

Here you have a simple investment strategy from the world’s richest person. Do you think Musk’s strategy is enough to build substantial wealth over time or will it only benefit the rich and sufficiently connected?

[This article is a transcription of a video made by Savvy Finance]

Original video: https://youtu.be/gm4JmYbbMJI ]