The market life of Elon Musk

 From blatant statements online to controversial romantic relationships, Elon Musk is considered the most unpopular billionaire in the technology industry.

ecame the richest man in the world thanks to what he did in the field of technology with SpaceX, Tesla, Neuralink, OpenAI ... but also many times fell into scandals.

Tesla CEO Elon Musk at a product launch event in California, USA 2019. Photo: AFP
Tesla CEO Elon Musk at a product launch event in California, USA 2019. Photo: AFP

The scandalous 'Patriarch' on Twitter

With more than 100 million followers, Musk is like a cardinal on Twitter. Tesla CEO has repeatedly announced a break from social networking, but quickly returned later. The WSJ has counted the number of articles and asserted that there are few technology leaders who spend as much time and use Twitter as effectively as Musk.

Ignoring the blatant statements on Twitter and the contradictory statements that make many people think that he is a fraud, a liar and does everything to make money, Musk can be considered a Twitter fanatic.

Elon Musk's number of tweets per week from 2018 to mid-2022. Source: WSJ
Elon Musk's number of tweets per week from 2018 to mid-2022. Source: WSJ

But he is also being accused of destroying this social network. Three months ago, Musk offered to buy Twitter for $44 billion and claimed the company could do much better if he took the helm. Before that, he publicly criticized the platform's directors, mocked the content policy, complained about the product and confused more than 7,000 employees, many senior leaders resigned.

Not long after the deal was approved, Musk suddenly "turned the car around", stopping the sale. He left behind a much more confused social network than before he announced the deal. "With every tweet that shouldn't have been, Musk has eroded people's trust in social media, lowered employee morale, spooked potential advertisers, exposed financial hardship, and spread the word. misinformation about how Twitter works," the New York Times commented.

According to observers, the current precarious situation forced Twitter to sue Musk to close the deal. The court battle is likely to drag on at enormous cost. Many experts say that it is highly likely that Musk will lose, but Twitter is not a winner in this battle.

Infidels stir up the crypto world

Not stopping at technology, aerospace and electric vehicles, Elon Musk also quickly expanded his influence into the field of cryptocurrencies. With just a few tweets, he can shake the market.

In early 2021, when Musk announced Tesla was buying $1.5 billion worth of Bitcoin (BTC), the token surged in price by more than 60% within a month. After that, the cryptocurrency market continued to grow impressively.

One of his aimless tweets can also cause cryptocurrency prices to fluctuate.

At the end of January 2021, the Bitcoin price increased from $32,000 to $38,000 after the Tesla CEO added the Bitcoin hashtag to his Twitter bio. In early November last year, he made a digital currency of the same name increase 100 times when he changed Twitter's name to "Lorde Edge". The US billionaire also caused the Grimacecoin token to skyrocket 285,000% after a joke.

At that time, Musk went from an outsider to the most influential person in the cryptocurrency market. He also supports the meme coin movement with the unusual price swings of Dogecoin.

However, Musk's reputation in the crypto community remains the subject of controversy. He was even sued by an investor and demanded $258 billion in damages for allegedly creating a multi-level model to trick many people into investing in Dogecoin.

Meanwhile, CoinDesk assessed that Musk this year was "out of license", no longer having any influence on the cryptocurrency market. Even when he announced the sale of 75% of the Bitcoin that Tesla was holding, the market was not very volatile. The site claims that Musk went from an outsider to a major influence on the cryptocurrency market for a while, but then gradually lost his credibility.

Even billionaire CZ, the CEO of cryptocurrency exchange Binance who was willing to spend $500 million for Musk to buy Twitter, commented on Fox last week: "Musk is smart, but that doesn't mean he can own all kinds of valuable assets. world. No one knows exactly why he sold Bitcoin, but it probably doesn't matter much."

Attention-grabbing love affairs

Few technology billionaires have a love line as much as Elon Musk. After his first two marriages to Justine Wilson and Talulah Riley, the South African-born billionaire dated actress Amber Heard - ex-wife of actor Johnny Depp.

Their love story was the focus when Johnny Depp and his wife dragged each other to court. This actor blamed Musk as the cause of the breakdown of the marriage. Some evidence shows that the US billionaire was dating Amber Heard before she broke up with her ex-husband. Then the two publicly announced their relationship in 2016 when the female star had just divorced.

At the end of 2017, the relationship ended. Half a year later, the American billionaire continued to attract attention when he announced his new lover 16 years younger - singer Grimes. The two have two children together, in which the first son is named X Æ A-12 Musk.

In early July, Musk is said to have
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