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Elon Musk made another $1 billion from his Twitter stake

Elon Musk has attracted a lot of attention since buying his 9.2% stake in Twitter, along with gaining a position on the company’s board of directors. It’s also worth an extra billion dollars. In a new deposit late Tuesday, Musk revealed how much he paid for the 73 million shares he began buying in late January and finished with a final purchase on Friday. The average price was $ 36.16 per share. The news of his investment in Twitter led the shares to rise 27% on Monday and another 2% until the close of Tuesday, before falling slightly in trading on Wednesday. But even with that price step back, Musk is considering a $ 1.1 billion paper profit from his $ 2.6 billion investment. This equates to a yield of about 40%. Not bad for a two month investment. Of course, this amount is essentially a sofa cushion change for the richest man in the world. Musk’s initial investment accounted for less than 1% of his net worth, valued at $ 282 billion by Forbes. $ 1 billion profit? Name the rounding error. The Federal Reserve estimates that the average net worth of households in the United States is $ 121,700. So if a typical family had the same percentage increase in net worth that Musk just got from his unexpected Twitter profits, it would be a total of $ 461. It is not exactly seismic. So given his vast fortune, it is safe to say that no one on the planet ever needed an extra $ 1 billion less than Elon Musk.

Elon Musk has attracted a lot of attention since buying his 9.2% stake in Twitter, along with gaining a position on the company’s board of directors. It’s also worth an extra billion dollars.

In a new deposit late Tuesday, Musk revealed how much he paid for the 73 million shares he began buying in late January and finished with a final purchase on Friday. The average price was $ 36.16 per share.

The news of his investment on Twitter led shares to rise 27% on Monday, and another 2% until the close of Tuesday, before falling slightly in trading on Wednesday. But even with that price step back, Musk is considering a $ 1.1 billion paper profit from his $ 2.6 billion investment. This equates to a yield of about 40%. Not bad for a two month investment.

Of course, this amount is essentially a sofa cushion change for the richest man in the world. Musk’s initial investment accounted for less than 1% of its net worth, which Forbes estimated at $ 282 billion. $ 1 billion profit? Name the rounding error.

The Federal Reserve estimates that Average net worth of households in the USA is $ 121,700. So if a typical family had the same percentage increase in net worth that Musk just got from his unexpected Twitter profits, it would be a total of $ 461. Not exactly seismic.

So given his vast fortune, it is safe to say that no man on the planet has ever needed an extra $ 1 billion less than Elon Musk.

Elon Musk made another $1 billion from his Twitter stake Source link Elon Musk made another $1 billion from his Twitter stake

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