Maye Musk once invested $1,000 in stocks following Elon Musk’s advice.
Maye Musk – Elon Musk’s mother said she received investment advice from her son when the Tesla CEO was only 14 years old.
The 74-year-old model shared that more than 35 years ago, Elon Musk recommended that she buy stock in a company he “really believed in,” despite the stockbroker saying the investment was a” bad idea”.
The above story was shared by Maye Musk on Twitter on May 1 after the world’s richest billionaire gave some advice on choosing stocks. The 50-year-old billionaire urged his Twitter followers to buy stocks of companies that produce products they “trust” and not to “panic” by the market reaction.
Giving an example of Elon Musk’s investment philosophy, Mrs. Maye said that in the 1980s, she invested about $1,000 in stocks that her son recommended. It was the largest amount of money she had ever ventured into this field.
Elon Musk’s faith in the company quickly paid off and the value of Maye’s investment tripled. When the stock price increased, Maye “panicked” and decided to sell all his shares. “I wasn’t happy about it. This code then continued to increase. I also think it’s unfair for you to divide your profits between me, @kimbal and @ToscaMusk,” Maye said on Twitter.
Maye Musk did not specify how quickly the stock price increased or which company Elon Musk proposed to invest in. Her representative also declined to comment further on this matter.
Billionaire Elon Musk and his mother. Photo: Reuters
Elon Musk’s investment advice comes just days after he sold 9.6 million Tesla shares, worth $8.5 billion. This move is said to be to pay for the $44 billion deal with Twitter.
This is also not the first time the world’s richest man has given investment advice. Earlier this year, Elon Musk said owning material things like a house or stock in companies is “generally better than holding cash” when inflation is high.
Previously, in an interview with Insider, Maye Musk emphasized that she helped her children develop by encouraging them to pursue their personal interests. During his childhood, CEO Tesla showed a passion for books and computer programming. In April, Elon Musk shared at the TED conference that his success is largely due to his desire to answer important questions surrounding the meaning of life.
The model and mother of three wrote about her family and her first experience with the stock market in the book “A Woman Makes a Plan”.
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