So he bought $1.5 billion and sold 75% for $936 million. If my calculations are correct, he just realized a net loss of $189 million.
I gave Musk too much credit. I always assumed he was running a classic "pump and dump" scam with bitcoin like he did with dogecoin. Apparently he forgot to "dump" and instead acted as a pied piper leading cryptobros to their demise.
It's not the richest man on earth. It's Tesla. You have to claim an impairment loss if the price of the coin drops. Since they sold over the course of the quarter, the $200m figure (Which is false and impossible to calculate without direct knowledge of how they sold and where they sold) would be much higher if he HODLed this quarter.
So he bought $1.5 billion and sold 75% for $936 million. If my calculations are correct, he just realized a net loss of $189 million.
I gave Musk too much credit. I always assumed he was running a classic "pump and dump" scam with bitcoin like he did with dogecoin. Apparently he forgot to "dump" and instead acted as a pied piper leading cryptobros to their demise.