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How Elon Musk Became the World’s Richest Man

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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

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