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No Longer #1, But Does That Matter?

Elon Musk is no longer the the top billionaire. He lost more than $100 billion in 2022. The number may seem inconceivable to most, but keep in mind that he has been making money and losing money for years on a gradual growth trajectory towards to the very top in the world, a trajectory which placed him for several years in the status as “world’s richest man.”

What happened to cause his ouster? One reason is Musk’s strategy for financial and cultural success. He paid billions in cash for Twitter in an effort to break up the social media company’s adverse stranglehold on free speech and to see the powerful communication tool transformed into an even more profitable haven for free speech. The story of Twitter is far from over, and don’t be surprised if Musk takes it to new highs of profitability in the future. A second factor was the temporary plummet of Tesla stocks. But we have seen this story before – Before great breakthroughs comes temporary loss. Keep your eyes pealed to see this 21st century rocketman and entrepreneur par excellance bounce back to number one as he continues to introduce disruptive innovations into a world that two often tends towards vision gridlock.

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Erik Weir