Home » Stock Picks » How Elon Musk Became the World’s Richest Man

How Elon Musk Became the World’s Richest Man

Facebook
Twitter
LinkedIn
Reddit
Email

Still think value investing is the way to go?

Consider this…

Elon Musk made more money in the last 90 days than Warren Buffett made in the last 90 years!

Total net worth Ranking

In fact, the Tesla, Inc. (TSLA) CEO is now worth more than Bill Gates and Warren Buffett combined!

So how did he do it?

Index funds? ETFs?

A diversified portfolio of underpriced value stocks that, hopefully… one day… will appreciate in value?

No. Not even close.

Becoming the World’s Richest Man

This unprecedented increase in wealth came from a highly concentrated position in a market-leading growth stock.

Despite earning a $0 annual salary, Musk owns 20% of Tesla stock.

And the recent surge in the TSLA share price has secured his title as the world’s richest man.

Weekly Comparison Chart of Telsa, Inc. (TSLA) & Berkshire Hathaway Inc. (BRK.A)
Weekly Comparison Chart of Telsa, Inc. (TSLA) & Berkshire Hathaway Inc. (BRK.A) — Source: TradingView

TSLA is the furthest thing from a value stock.

At the start of the year, Tesla had a price-earnings (PE) ratio of 1,160.

That’s 4,000% higher than the market average.

But as I continue to preach, fundamentals no longer matter

At least not in the traditional sense.

Stocks do not rise and fall according to book value and PE ratios.

A stock is worth what someone else will pay for it. Period.

Supply and demand are what move prices.

Therefore, stocks that are in demand (like TSLA) will see their prices go up.

And those viewed unfavorably will continue to fall – no matter how good the fundamentals appear.

Embrace the Surge,

Ross Givens

Editor, Traders Daily Direction

Brand New Strategy for Profiting from AI Stocks.

There’s a brand-new strategy in 2024 for going after big profits in AI stocks. It has nothing to do with Nvidia, Microsoft, Meta – or any of the big AI stocks the media can’t stop talking about.

It has to do with a fast-moving “backdoor” that has opened in the AI market... A backdoor that could send a very special class of AI stocks rocketing into the stratosphere.

All This is Yours for just 99 CENTS! (Limited Time Only)

No catch and no gimmicks. Get a full year of access to Ross Givens’ Live Action War Room for just 99 cents today – alongside the name of his “$3 AI Wonder Stock”. Deal expires soon.

Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments

Whats in the Article

Traders Daily Direction

Looking for an edge? Our team has the inside scoop on top analysis that will help grow your portfolio.. Receive a new daily direction every day and get ready to see your investment SURGE!