What is the first thing that comes to your mind when you think of Elon Musk? A successful entrepreneur whose eccentricity underlines his dreams and whose passion for design and technology has surpassed every engineer’s wildest dreams. As of now, his net worth is estimated to be somewhere around $15,300 crores.
The product architect of Tesla who is also the founder and co-founder of many tech companies like Neuralink, OpenAI and more is also famous for his unique take on investments as opposed to the boring, traditional styles that many fund managers swear by. To start with, this serial engineer and technology entrepreneur prefers to
Invest in the utility sector
The focus must always be on what people need or the sector that people can benefit from most. Elon Musk has always been an outspoken supporter of utilities. He has constantly reiterated how he intends to provide clean energy to people in the future. This he hopes to do by working with utility companies as a part of his long-term plan.
Musk has shown a strong conviction in pooling resources and collaborating with utility companies than competing with them. He claims that utility companies will remain vital to the prosperity of a new world powered by low-carbon energy, thus, explaining his investments in them.
Focus on diversification of investments
There is no doubt that investing in a single or a single kind of investment exposes you to unwarranted risk. This explains why investors must put their money in numerous assets or myriad kinds of assets that will balance the risk-return factor. Musk famous for SpaceX and Tesla has a long list of investments, thus, explaining this businessman’s focus on diversification of his assets.
Diversification provides excellent long-term returns while also ensuring the financial security of the investor. To be a successful investor, you must first identify great businesses and then diversify your investments.
Focus on excellence
Pessimism has helped none, which is evident from Musk’s attitude towards his businesses and investments. Musk has never allowed the market to dictate his investments. This is why you will never hear of this man being bogged down by losses or a prolonged bear run in the stock market. Not that his innovations have not backfired or he has never suffered losses on his investments.
Musk’s outlook towards innovation, his belief in the scope of futuristic technology and the clean energy sector have helped him create and maintain a strong portfolio with long-term investment opportunities. You will not find the word “impossible” in Musk’s dictionary, thus, never allowing negativity to occupy his mind or deter him from what he thinks can make him successful.
Investing in the public good
What use are money and riches if they cannot be used for the common good? Musk’s energy investments underscore his focus on clean investments while also ensuring help to the local populace. Investing in the public good is one area that Musk has scored well, thus, explaining how investments planned well can yield profits in the long run.