Elon Musk, the world's richest man, gave some investment tips on Sunday, including when to buy and sell stocks. Musk claims that he is frequently asked about how to improve one's riches. And his most important piece of advice? "Don't panic when the market panics," Musk advised on Twitter.
Musk recommended that individuals invest in firms that produce products and services that they believe in. "Since I've been asked so many times: Buy stock in a few companies that make products and services that you believe in." People should only sell their investments if they "believe their products & services are heading worse," said Musk. Musk posted the investment advice with his almost 90 million followers, saying, "This will serve you well in the long run."
Musk, with a net worth of USD268.2 billion, is the richest individual on the planet, according to the Forbes real-time billionaires list for 2022. Tesla and SpaceX's owner recently paid USD44 billion for Twitter's microblogging network. Musk has also sold approximately 4.4 million shares of the firm for a total value of approximately USD4 billion. The funds might be used to purchase the microblogging platform, as Musk is required to pay USD21 billion in his own capacity.
Morgan Stanley and other financial institutions have agreed to provide USD13 billion in funding, as well as USD12.5 billion in margin loans, against Musk's shares in Tesla and other firms, as part of the agreement. Musk is slated to provide USD21 billion in his own money in the form of stock funding.
Musk's most recent Tesla stock sales, according to documents filed with the US Securities and Exchange Commission (SEC), are worth roughly USD4 billion.
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