The 74-year-old model shared that more than 35 years ago, Elon Musk recommended that she buy shares in a company she “really believed in,” despite the stockbroker saying the investment was a “bad idea.”
Maye Musk once invested $1,000 in stocks on Elon Musk’s advice.
Maye Musk – Elon Musk’s mother said she received investment advice from her son when the Tesla CEO was just 14 years old.
The above story was shared by Maye Musk on Twitter on May 1 after the world’s richest billionaire gave some advice on how to pick stocks. The 50-year-old billionaire urged his Twitter followers to buy shares of companies that produce products they “trust” and not to “panic” about the market reaction.
Giving an example of Elon Musk’s investment philosophy, Mrs. Maye said that in the 1980s, he invested about $1,000 in stocks recommended to him by his son. It was the most money I had ever invested in this field.
Elon Musk’s confidence in the company quickly paid off, and the value of Maye’s investment tripled. When the stock price rose, Maye “panicked” and decided to sell all of her shares.
“I didn’t like it. Then, this code continued to increase. I also think it’s unfair that they split their profits between @kimbal, @ToscaMusk and me,” Maye said on Twitter.
Maye Musk did not specify how quickly the stock price rose or which company Elon Musk proposed investing in. His representative also declined to comment further on this matter.
Billionaire Elon Musk and his mother. Photo: Reuters
Elon Musk gave his investment advice just days after he sold 9.6 million Tesla shares, worth $8.5 billion. This operation is said to be aimed at paying off the $44 billion deal with Twitter.
It’s also not the first time the world’s richest man has offered investment advice. Earlier this year, Elon Musk said that owning material goods such as a house or company stocks 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 time as CEO of Tesla, he 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 around 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.”
