Elon Musk loses $50 billion after posting 'most expensive tweet in history'

[Celerity]

Elon Musk’s brother reportedly sold $US109 million in Tesla stock a day before what has now been branded “the most expensive tweet in history”.

https://www.news.com.au/finance/work/leaders/elon-musk-loses-50-billion-after-posting-most-expensive-tweet-in-history/news-story/8011fe5b849c8ff3a5dbd1e88e75c380

Elon Musk’s brother, Kimbal Musk, reportedly sold Tesla shares a day before his brother, infamous Twitter poll tanked the share price. Bloomberg reported that Kimbal Musk, 49, sold 88,500 Tesla shares on November 5 for about $US109 million ($A150 million). Tesla has not responded to a request seeking comment about the sale of the shares.

The Tesla boss posted a poll asking his 64 million followers whether he should sell off 10 per cent of his stock, as the US’s "billionaire tax" targeting the top 1 per cent’s growing wealth pool gains traction.

The post, now being dubbed online as “the most expensive tweet in history”, sparked a chain reaction, sending the electric car company’s stock into free-fall.

According to Bloomberg, Mr Musk’s $50 billion hit marks the biggest two-day decline in the history of the Bloomberg Billionaires Index. It is also the biggest one-day fall after Amazon founder Jeff Bezos’s $US36 billion ($A49 bn) hit following his 2019 divorce from MacKenzie Scott.

Link to tweet

[uponit7771]

1. Musks brother "got lucky" I bet

[FakeNoose]

2. So ... did he go ahead and sell his stock on November 7th?

If he did he's an idiot.

[Initech]

3. If you're a billionaire you should probably stay off social media. Just saying.

[Dorian Gray]

4. He hasn't lost anything

because he hasn't realized any of his gains.

But EVEN if we looked as his stock as though it were real money in hand, how much capital did he put in? And how much is he worth now.

He hasn't lost a damn thing.

[sigpooie]

5. sounds like he's short his stock

[Shermann]

6. The optics on Kimbal's stock sale are not super great nt