Comments by "" (@thinker9337) on "US: Elon Musk loses $200 billion in a year, entered 2022 with $340 billion | Latest News | WION" video.

Absolutely!
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@fifty9forty3 The value of stock is based solely on shareholders belief in the value of stock, nothing else. In the moment of doubt and fear people convert stock back into money, and by doing it they make the price fall. It goes like a chain reaction or a domino effect. The Market tanks, the net worth of the company shrinks and the owners lose half of their wealth in the span of days. Knowing that, I wouldn't call Musk "the richest man on the planet". Unless he buys gold with all his money, his wealth is only temporary and unsustainable.
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@fifty9forty3 I'm not an expert in history, but I think that's what happend in 1929 on a large scale. And regarding Musk, I think he decided to buy Twitter bcz (1)he needed large amount of cash, (2) Tesla stock was overvalued and ...(3) he wanted to make a publicity stunt. But most importantly, money. Musk wanted to sell large amount of his shares without causing a panic among investors and then, quit the Twitter deal with his "bots" claim. But it didn't work out and he got stuck with Twitter. He wouldn't had cash problem if he had gold instead of shares or at least, if his shares weren't of his own company. Then, he wouldn't care sell them and create a market crash.
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