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Billionaire Elon Musk shares long-term investment advice

Source From: ENT 2022-05-02 02:06:40

Elon Musk, who is the richest man in the world, on Sunday shared some investment advice on when to buy and sell stocks.

According to Musk, he's been asked a lot about how to increase one's wealth.

And his biggest advice: "Don't panic when the market does," Musk wrote on Twitter.

Musk advised people to buy stocks in companies that make products and services they believe in.

"Since I've been asked a lot: Buy stock in several companies that make products & services that *you* believe in."

Musk noted that people should sell their stocks only if they "think their products & services are trending worse".

"This will serve you well in the long-term," Musk shared the investment tips with his nearly 90 million followers.

According to the 2022 Forbes real-time billionaires list, Musk is the richest man in the world, with a net worth of $268.2 billion.

The owner of Tesla and SpaceX recently took over microblogging platform Twitter in a $44 billion deal.

Musk has also sold around 4.4 million shares of the company worth around $4 billion. The money could possibly go towards acquiring the micro-blogging platform, as Musk has to shell out $21 billion in his own personal capacity.