Althouse: "Gautam Adani lost $31 billion in one of the biggest weekly drops ever, while Elon Musk's fortune rebounded by $28 billion."

January 29, 2023

"Gautam Adani lost $31 billion in one of the biggest weekly drops ever, while Elon Musk's fortune rebounded by $28 billion."

Forbes reports.

23 comments:

Lem Vibe Bandit said...: Musk epitaph orders fell.; 1/29/23, 8:55 AM
tim maguire said...: When it’s all stock in a particularly fluid economy, it makes no sense to crown a “richest man in the world.” The week to week fluctuations are meaningless. Who’s on top today is almost random, at least among that small group that hangs around at the top.; 1/29/23, 8:57 AM
Dave Begley said...: I want Hidenberg Research to now do the Biden Crime Family.

Why wouldn’t Joe and Jill have about $200m in cut diamonds in a Swiss bank? A shortstop for the Twins is going to get paid $200m.; 1/29/23, 9:00 AM
Gahrie said...: Who’s on top today is almost random, at least among that small group that hangs around at the top.

Right now maybe. By the end of the decade, Musk will probably be worth more than #2 and #3 combined. Tesla is still ramping up production and introducing new products. SpaceX is a privately held golden gosling that's going to mint money once Starlink and Starship are fully functional. If the leaks are anywhere near accurate, Neuralink is going to be a bombshell and a game changer, and it's also privately held. Hell even the Boring Company is profitable.; 1/29/23, 9:51 AM
JZ said...: So? Nobody cares.; 1/29/23, 10:12 AM
Aught Severn said...: 1%er problems!; 1/29/23, 10:50 AM
Drago said...: Gahrie: "Right now maybe. By the end of the decade, Musk will probably be worth more than #2 and #3 combined. Tesla is still ramping up production and introducing new products. SpaceX is a privately held golden gosling that's going to mint money once Starlink and Starship are fully functional. If the leaks are anywhere near accurate, Neuralink is going to be a bombshell and a game changer, and it's also privately held. Hell even the Boring Company is profitable."

Shhh! Lefty Business "aces" readering, Dumb Lefty Mark and gadfly have assured us all Musk is a complete business failure and both Tesla and Twitter were circling the drain.

Btw, Tesla itself is really about half a dozen startups all merged together involving AI, robotics, manufacturing, electric vehicles, etc.

And all of the Musk companies have tremendous synergistic overlap with each other and it all points to 3 or 4 related visionary goals.

But try telling any of that to the Althouse moron lefties! Much squealing and screeching will result.; 1/29/23, 10:51 AM
Kevin said...: Jack Casey: The money's not gone, it just belongs to somebody else.; 1/29/23, 10:57 AM
Static Ping said...: Short-term fluctuations in the stock market are only relevant to day traders, the overleveraged, and those with axes to grind. Assuming there has not been some fundamental shift in the company's fortunes, the short term ups and downs are usually just noise and often caused the actions of the more panicky investors, who tend to exist merely to transfer their wealth to people with good sense.

My main concern with Musk's holdings is Tesla, since I don't think electric cars have a real future except as a niche product. That said, if you are going to make a niche product, having the best niche product is a good place to be.; 1/29/23, 11:03 AM
Wince said...: That loss is a significant quantum... even for Gautam.; 1/29/23, 11:42 AM
narciso said...: Adani is big supporter of modi connect the
Dots; 1/29/23, 11:50 AM
Maynard said...: GM and Ford will be extremely lucky to get half the profit margin on EVs that Tesla does.

Toyota (who makes the best quality autos) is not going to seriously compete in the EV market. They realize that EVs will start to lose popularity in the next decade as people realize how much EVs have been overhyped.

If you are betting on EV stocks, think about selling in 4-5 years before the bottom drops out.; 1/29/23, 11:59 AM
Sheridan said...: JZ - it's a data point. Collect enough data points across all human endeavors (impossible to do I know but it's a goal) and look for patterns and trends and then try and devise a projection of the future across short and long timelines. Probability and risk analyses. I used to do that on engineering/construction projects. The military does it all the time. I suspect financial markets do the same. It's intellectually interesting if nothing more.; 1/29/23, 12:03 PM
Joe Smith said...: Nice to see Elon will not be eating cat food as feared.

"Why wouldn’t Joe and Jill have about $200m in cut diamonds in a Swiss bank?"

First off, they should be uncut as there would be no certificates and no tracking.

Second, the Swiss are fucking narcs and not to be trusted...anywhere but Switzerland.; 1/29/23, 12:06 PM
Dude1394 said...: Toyota smartly will stick with hybrids.; 1/29/23, 12:32 PM
William said...: I read the Chernow bio of Rockefeller. Rockefeller was the richest man of his era. On one of his estates, he had a full eighteen hole golf course. His very own golf course. Eat your heart out Trump....That's very impressive, but then I was reading where the Czar of Russia had some kind of hunting estate that was much larger than the isle of Manhattan. The wealthiest people are not those who corner a market but those who corner the government.; 1/29/23, 1:12 PM
wildswan said...: The niche is rich. Tesla owners love their car and can afford two cars for those times when electricity just isn't on. The Tesla market will grow for long time. The rest of the market will have trouble when people need to replace the battery. $4,000 to $20, 000if there are any.; 1/29/23, 4:16 PM
Gahrie said...: I read the Chernow bio of Rockefeller. Rockefeller was the richest man of his era. On one of his estates, he had a full eighteen hole golf course. His very own golf course. Eat your heart out Trump...

You do know that Trump owns 16 golf courses and lives on a golf course...right?; 1/29/23, 4:22 PM
LakeLevel said...: Hydrogen electric vehicles (HEV) are electric vehicles. That is what Toyota thinks is the best way to go. Refilling hydrogen tanks takes a few minutes compared to battery electric vehicles (BEV) which take hours to refill. Why BEVs are pushed and HEVs are being suppressed is a mystery. Maybe, like nuclear power, it is too good. We can't control the masses if they have too much wealth.; 1/29/23, 5:15 PM
LakeLevel said...: Hydrogen electric vehicles (HEV) are electric vehicles. That is what Toyota thinks is the best way to go. Refilling hydrogen tanks takes a few minutes compared to battery electric vehicles (BEV) which take hours to refill. Why BEVs are pushed and HEVs are being suppressed is a mystery. Maybe, like nuclear power, it is too good. We can't control the masses if they have too much wealth.; 1/29/23, 5:15 PM
Rusty said...: LakeLevel said...
"Hydrogen electric vehicles (HEV) are electric vehicles. That is what Toyota thinks is the best way to go."
Hydrogen is a shit fuel. For a number of reasons. The main one being it is more dangerous than gasoline to transport and store. If you're looking for a viable alternative to electric look in the direction of fuel cells.; 1/29/23, 9:11 PM
TechtoReview said...: IPTV(Internet- based television protocol) is becoming the new trend to watch your favourite content by using M3U playlists.; 1/30/23, 3:41 AM
rwnutjob said...: He said the quiet part out loud.
Toyota CEO Akio Toyoda Steps Aside, Which May Accelerate the Company's EV Rollout

https://www.caranddriver.com/news/a42673244/toyota-ceo-akio-toyoda-steps-down/; 1/30/23, 7:12 AM