this post was submitted on 10 Mar 2025
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[–] MyOpinion@lemm.ee 57 points 1 day ago (2 children)

It is almost like our glorious leader does not know what he is doing.

[–] tal@lemmy.today 11 points 1 day ago

The "Magnificent Seven" cohort — once the stars of this bull market — led the declines Monday as investors dumped the group for perceived safer plays. Tesla tumbled 13%, heading for its worst day since 2020

https://en.wikipedia.org/wiki/Wealth_of_Elon_Musk

Having been first listed on the Forbes Billionaires List in 2012,[4] around 75% of Musk's wealth was derived from Tesla stock in November 2020

In terms of out-of-pocket costs for the Trump presidency, Musk is paying considerably more in terms of stock losses than in the ~$300 million he donated to the campaign.

https://www.usatoday.com/story/money/business/2025/03/09/musk-loses-billions-amid-tesla-sell-off/82137324007/

As shares of Tesla Inc. lose ground, the company's chairman and presidential adviser Elon Musk is losing big.

Forbes, which maintains a real-time billionaire wealth tracking tool, estimates the 53-year-old was worth $342.4 billion as of the close of business Thursday, down a whopping $121.2 billion from its all-time high of $464 billion, set Dec. 17. He's still the richest person in the world, however.

That's not just due to Trump being re-elected and Musk's very public role there, but it sure doesn't help.

[–] 1984@lemmy.today 4 points 1 day ago

They make money when stocks go down when they short them.

So pretty sure he knows what he is doing.