After Musk Tweeted And Shared His Stock Selection Experience, His Mother Meyer Musk Revealed That Musk Had Provided Investment Advice To Her Since She Was 14. Musk Told His Twitter Fans On Sunday: Buy Stocks Of Companies Whose Products And Services You Trust, Sell Them Only When You Think Their Products And Services Are Deteriorating, And Don't Panic When The Market Falls.
Mayer Musk Then Shared An Anecdote, Which Is An Example Of Musk's Investment Philosophy. She Said Musk Asked Her To Buy Shares In A Company He "really Trusted" 35 Years Ago, Although A Stockbroker Friend Called It A "bad Idea".
Meyer Musk Said That The Stock She Recommended To Her Son Invested About R 1000, Which Was The Biggest Loss She Was Willing To Bear On The Stock.
But Elon Musk's Confidence In The Company Quickly Paid Off, And Its Share Price Quickly Tripled. Mayer Musk Said That She Was Frightened By The Rapid Rise Of The Stock, So She Sold Her Stock, Which Made Musk Very Unhappy Because The Stock Continued To Rise, And Musk Believed That It Was Unfair For His Mother To Divide The Money Equally Between Him And His Brother And Sister.
Meyer Musk Did Not Specify How Fast The Company's Share Price Rose From R 1000 To R 3000, Nor Did He Disclose The Name Of The Company.
Meyer Musk Also Shared Her Own Investment Experience On Twitter, Saying That She Bought Her First Stock For R 100 In 1969 And Later Recorded The Stock In His Name In 1971, When Elon Musk Was Born. In 1989, She Used The $2000 She Made From The Stock To Help Elon Musk Move From South Africa To Canada.