Elon Musk once advised Maye Musk to invest $1,000 in equities.
Elon Musk’s mother, Maye Musk, said that when the Tesla CEO was just 14 years old, her son gave her investing advice.
Elon Musk suggested that she purchase shares in a firm that he “really believed in, despite the stockbroker saying the investment was a bad idea” over 35 years ago, according to the 74-year-old model.
Following some stock selection guidance from the richest person in the world, Maye Musk posted the aforementioned narrative on Twitter on May 1. The 50-year-old millionaire advised his Twitter followers not to “panic” over the market’s response and instead to purchase stocks in businesses that make goods they “trust.”
As an illustration of Elon Musk’s approach to investing, Mrs. Maye mentioned that she spent around $1,000 on stocks that her son suggested in the 1980s. This was the biggest sum of money she had ever invested in this industry.
Elon Musk’s confidence in the business soon paid off, and Maye’s investment tripled in value.
Maye “panicked” and sold all of his shares as the stock price rose.
“I wasn’t pleased with it. Then, this code kept getting higher. Additionally, I believe it’s unjust for you to split your earnings amongst @kimbal, @ToscaMusk, and me,” Maye posted on Twitter.
Maye Musk did not say which firm Elon Musk intended to invest in or how rapidly the stock price rose. Additionally, her spokesperson declined to provide any other commentary on this issue.
Elon Musk, a billionaire, and his mother. Image: Reuters
Days after selling 9.6 million Tesla shares for $8.5 billion, Elon Musk offered investing advice. The $44 billion transaction with Twitter is reportedly being paid for using this action.
The richest man in the world has already offered investing advice. This year, Elon Musk stated that when inflation is strong, it is “generally better than holding cash” to own substantial possessions like a home or shares in businesses.
Maye Musk previously stressed in an interview with Insider that she encouraged her kids to follow their own hobbies in order to help them grow. CEO Tesla shown a love of reading and computer programming in his early years. Elon Musk said at the TED conference in April that he attributes a substantial portion of his success to his drive to find the answers to significant questions about the purpose of life.
The model and mother of three authored a book titled “A Woman Makes a Plan” in which she talked about her family and her initial stock market experience.
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