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Or it's going to pop regardless and he readily senses the insanity of being worth ~$340b on paper as so many others also sense it ($315b gain in two years), and
by adventured 5y ago
Or it's going to pop regardless and he readily senses the insanity of being worth ~$340b on paper as so many others also sense it ($315b gain in two years), and is using a ridiculous poll as a Musk-style ridiculous cover to finally secure some tangible wealth outside of the paper bubble valuation on Tesla (and to a lesser degree, SpaceX) and the large pile of debt-as-living ($6b and climbing) he's having to maintenance. Musk went from $100b to $340b in a year. He'd be a moron to not sell some of it, secure some safety capital, clear out his debts; if Tesla implodes, he can buy the stock all back; if Tesla's stock doesn't implode that just means he'll still be worth a zillion dollars, shareholders will be happy, and the sale won't have really mattered anyway. The only serious risk is that if the stock crashes shortly after he sells, he will never hear the end of it (and he'll have $20b in new cash to cry upon).
- adam_arthur 5y agoOh yeah, I absolutely think his intention was to sell from the start. His brother just sold a large chunk on Friday... totally not coincidental. He's also frequently made jokes about how overvalued the stock is... definitely knows it's totally mispriced/overvalued. Makes sense to diversify a bit either way. It may tank bigly before he can even sell though. I'm sure many will try to front run. But who knows, let's see.