Elon Musk’s golden rule for investments resurfaces as he becomes world’s first person with $400,000,000,000

While money can be a fickle mistress, we don’t think the richest people in the world have too much to worry about in the near future.

Although the figures change on a daily basis, the three richest people in the world (Elon Musk, Jeff Bezos, and Mark Zuckerberg) have a current combined net worth of $920 billion.

This is still shy of a trillion dollars, but with Musk tipped to become the world’s first trillionaire by 2027, it looks like the only way is up.

Musk has been enjoying a lucrative 2024, with his appointment as the co-head of the government’s new DOGE, Tesla stocks hitting a record high on December 11, and a boost to SpaceX’s valuation helping push him over the $400 mark.

After becoming the first person to have a net worth of over $300 billion in November 2021, he’s comfortably sat as the world’s richest person ever since.

Musk’s current wealth can be traced back to the cool $175.8 million he made when PayPal was sold to eBay in 2002, with him eventually making it onto Forbes’ billionaires list a decade later with just $2 billion.

Despite his mind-blowing net worth, Musk has referred to himself as ‘cash poor’ and explained he has no real interest in material possessions.

He has also stood up for Bernie Sanders’ complaints that Musk and Bezos control over more than the bottom 40% of the population; ‘What he is doing is assembling resources to help human beings go to the stars,’ Burkeman quotes.

Whether people like it or not, Musk has created a lot of wealth for himself which means he isn’t planning strategy wrong.

If you think that you are the next Musk, his “golden” rule of investment has returned in the recent months after his record wealth increase.

If you want to invest, here is Musk’s somewhat basic advice shared on X by Teslaconomics.

In April 2022, Musk wrote: >As I always get a question: Invest in several companies and manufacture goods and services which you think are worth investing in.

They should only sell if they think that they provide their products & services at worst. That’s why, according to experts’ advice, it should be developed continuously, but one should not be anxious at the market’s presence.

His wise words will apparently be ‘useful to you in the long-run’, as per Teslaconomics, who now claim they ‘get their lives and deaths from’ Musk’s outpourings.

It’s typically not as easy as that, and responding to the advice, someone else wrote: That is the exact situation that made me lose all my money because the stocks from which I was earning money were crashed and delisted. Worst advice ever!”

We’re not sure whether that person was joking, but agreeing with Musk, someone else added: The only message to survive on: buy Tesla and then buy more Tesla.” Continue both steps until you exhaust colour.”

A third concluded: “Sometimes simple legend advice happens to be from @elonmusk that a majority of people will struggle to implement long term especially the final part.”

In case, Musk still follows these words of wisdom, he has recently even retweeted Teslaconomics’ original tweet.

What Musk said here represents what is commonly referred to as value investing and which has been the specialty of Warren Buffet. Of course, 94-year-old Mr Buffett is one of the most famous investors in world and despite the fact he and Musk may diverge in the question of cryptocurrency they think alike in the matter of investing.