Hacker News new | ask | show | jobs
by mikeyouse 4796 days ago
Up 26% after-hours almost certainly qualifies as a 'Tsunami of Hurt.'

Some quick math for fun's sake:

If the TechCrunch[1] article is still accurate, Musk owns 28.4% of TSLA. His paper-worth on this ownership this morning was $1.8B. If things stabilize at $70/share, his paper-worth tomorrow morning will be $2.3B.

A notional profit of $500 million in 24 hours isn't too shabby.

[1]http://techcrunch.com/2010/06/28/tesla-ipo-musk-shares/
2 comments
adventured 4796 days ago
Not sure I understand what you're referring to.

0.284 * $7.5 billion = $2.13 billion

His gain, assuming a 20% jump, is about $300 million.

At market close TSLA's market cap was $6.39 billion.

link
mikeyouse 4796 days ago
Weird, I must've had a different Google Finance tab open at the time? Thanks for the correction.
link
mapleoin 4795 days ago
> A notional profit of $500 million in 24 hours isn't too shabby.

It's not a 24 hours profit. He didn't buy that stock yesterday, nor could he have without making the price go a lot higher than 70$. You can't judge his profit on the short term.

link
mikeyouse 4795 days ago
That's why I called it a notional profit and repeatedly referred to his net worth as 'on-paper'. Was that not obvious?

It's clear he doesn't have an extra $500mm in a checking account.

link
mapleoin 4795 days ago
Yeah, sorry, I skipped over the 'notional' in your comment.
link
ankitml 4795 days ago
Yeah, thats correct. I dont know why he misread "notional"
link