Musk’s tweets cast an immediate shadow over the share prices of some companies, as the value of the digital currency “Bitcoin” decreased by about 10 percent, Monday, after Musk’s tweet on Saturday, in which he said that its price “appears to be high.”
Last week he tweeted about a woolen hat he bought for his dog on Etsy, sending the company’s shares up by up to 8 percent in pre-market trading.
About a month ago, Musk tweeted the words “Use Signal”, in reference to the replacement of “WhatsApp” with the encrypted messaging application “Signal”, so the share price of the medical company of the same name has more than doubled ten times.
The economic expert, Sherif Othman, attributes the strength of Musk’s statements on the stock market to two important factors, the first of which is “the current close connection between the stock market and social media.” Othman adds in an interview with Sky News Arabia, that “Musk enjoys the confidence of young investors, who prefer Listening to him to read companies’ financial data.
Osman confirms that the strength of Musk’s influence is also due to “his connection to the field of technology, and he has proven himself through his leadership of Tesla, whose share prices rose last year to more than 700 percent, and today more than 45 million people follow him on Twitter.”
The economist pointed out that Musk’s financial moves also play a big role in guiding investors, which explains “the strong rise in the value of Bitcoin when he announced that his company invested $ 1.5 billion in the digital currency.”
Who is Elon Musk?
An engineer, inventor and billionaire with origins in South Africa, he holds Canadian and American citizenships. His fortune was estimated on the Bloomberg Billionaires Index, Monday, at $ 199 billion, to rank first in the world, surpassing the founder of Amazon, Jeff Bessos.
Musk is the founder, CEO, and chief designer of “SpaceX”. He is also the Co-Founder, CEO and Product Engineer of Tesla Motors. He also co-founded the famous cash trading company, PayPal, and Chairman of the Board of Directors of Solar City.
Musk was born in Pretoria, South Africa, in 1971, his father is an engineer, and his mother is Canadian, whose name is May Musk, who worked as a nutritionist and model, and after moving to Canada in 1988, he obtained her nationality, then he left for the United States and studied there, and obtained her citizenship in 2002.
His parents separated in 1979, so the eight-year-old chose to live with his younger brother Kimball with their father. He later regretted it, according to his comments in an interview with Rolling Stone magazine.
Despite his difficult childhood, and being bullied by his peers, in 1983, at the age of 12, he accomplished his first commercial business, selling a video game he designed in the “Basic” programming language, and he called it Blastar, for a magazine dealing with technical affairs for $ 500.
After high school, Musk spent two years studying at Queen’s University in Ontario, Canada, then earned a bachelor’s degree in physics from the University of Pennsylvania, and a business administration degree.
He moved to California in 1995 with the ambition to obtain a Ph.D. from Stanford University, but left his thesis after only two days, to pursue his ambitions in the fields of the Internet, outer space and renewable energy.
Some of his accomplishments
Economist Sherif Othman says, “Musk’s tremendous accomplishments are the best to talk about,” and he adds to Sky News Arabia, that “Planet Earth no longer accommodates Musk’s ambitions, and his insightful and premature future vision, so he wanted to compete on another planet, Mars.” Aspires to establish human settlements on it.
He founded Zip2 with his brother, with the support of technology investors in Silicon Valley, to serve as a travel guide for major newspapers, and he stayed during that stage in his office, until his efforts paid off when he sold Zip2 to Compaq for $ 341 million, while he was still in his twenties. .
In 1999, he established the “X.com” company specialized in Internet banking services, which merged about a year later with another financial company to form the fast money transfer company known as “PayPal”, which in 2002 was sold to “eBay” for $ 1.5 billion. Musk’s stake in it 165 million.
And Musk proved his genius again when he decided to invest $ 70 million in the “Tesla” electric vehicle company, founded by Martin Eberhard and Mark Tarbenning. Musk played a major role in producing the Roadster in 2006.
The man with unlimited ambitions established a company to produce solar energy, which he called “Solar City”, but the financial crisis in 2008 almost destroyed his ambitions, especially as it coincided with social problems, which later caused his separation from his first wife, Justin Wilson, after their association for eight years.
In 2010, he married actress Telula Riley on a journey that witnessed problems, turmoil and initial separation in 2012, and then a final separation in 2016. He is currently associated with Canadian singer, musician and author Grimes, born in 1988 in Vancouver, and they had a child in 2020.
In 2008, NASA contracted him in the amount of 1.5 billion to send equipment to space, and the move to the International Space Station became something within reach, thanks to two companies cooperating with NASA, one of them “SpaceX”, which later became the largest private company producing rockets in the world.
Musk made headlines in 2012 when SpaceX launched a space rocket that sent the first commercial vehicle to the International Space Station, and the company’s efforts in subsequent years culminated in the development of a series of giant “Falcon” space missiles, in addition to the “Dragon” vehicle.
In 2013, Musk unveiled the concept of “Hyperloop”, which is a high-speed transportation system that includes low pressure tubes with capsules to transport people, and is currently working on the implementation of an initial transportation system linking Los Angeles and San Francisco, with a rapid flight of less than 30 minutes.
In 2016, he co-founded Neuralink, a neurotechnology company that aims to connect the human brain with artificial intelligence, through devices that can be implanted in the human brain, with the aim of developing it and helping humans improve their memory through direct communication with computers.
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