If you’re a Twitter employee who has a satisfying work-life balance, you might not want to hear what the new boss has to say.
Elon Musk has completed his acquisition of Twitter, despite saying he overpaid for the company. And now he’s finding ways to cut spending at the social media giant.
The billionaire entrepreneur cut nearly 3,700 jobs at Twitter, or half of the workforce, via email last week.
Musk also removed Twitter’s “days off” — monthly days off for employees to rest and recharge — in his drive to implement a “24/7” work culture.
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Additionally, Bloomberg reported that Musk plans to end the company’s remote work policy and ask remaining employees to return to the office full-time.
If you like what Musk is doing to improve efficiency and reduce costs on Twitter, sadly, you can’t invest in it anymore. The company is now private.
But you can still invest alongside Elon Musk – here’s how.
Cryptocurrency
Once considered a niche asset, cryptocurrency has now entered the mainstream. A CFA Institute study earlier this year showed that 94% of state and government pension plans have invested in cryptocurrencies.
Of course, many investors have learned about cryptocurrency volatility the hard way from this year’s massive pullback. For example, bitcoin – the largest cryptocurrency in the world – is down 56% so far in 2022.
Read more: Wealthy Young Americans Have Lost Confidence in the Stock Market – Betting on These 3 Assets Instead
Musk has been one of the most vocal supporters of cryptocurrency.
“I still own and will not sell my Bitcoin, Ethereum or Doge fwiw,” he said in a tweet earlier this year.
There are many platforms that allow you to invest in crypto. Just be aware of the fees: many exchanges charge up to 4% commission fees just for buying and selling crypto. But some investment apps charge 0%.
Immovable
In the same tweet where Musk shared his take on crypto, he also discussed the importance of owning “physical things” in an inflationary environment.
“As a rule of thumb, for those looking for advice on this thread, it’s usually better to own physical assets like a house or shares in companies that you think make good products, than dollars when inflation is high.”
Despite the Fed’s aggressive rate hikes, real estate remains a popular asset. The S&P CoreLogic Case-Shiller 20-City Composite Home Price NSA Index is up 13% over the past year.
As the price of raw materials and labor rises, new properties cost more to build. And that drives up the price of existing real estate.
Well-chosen properties can provide more than just inflation protection. Investors also get to earn a steady stream of rental income.
But you don’t have to be a homeowner to start investing in real estate. There are many real estate investment trusts (REITs) as well as crowdfunding platforms that can help you become a real estate tycoon.
Tesla (TSLA)
As a serial entrepreneur, Musk has created several successful businesses. But he is best known as the co-founder and CEO of electric vehicle maker Tesla.
According to Bloomberg, Musk’s biggest asset right now is Tesla’s capital.
Although Tesla stock hasn’t been a hot commodity – shares have fallen 45% since the start of the year – it remains a juggernaut in the auto industry. With a market capitalization of around $680 billion, Tesla is several times larger than Ford and General Motors combined.
And despite the decline in the stock, business is still going in the right direction.
In the third quarter, Tesla delivered 343,830 electric vehicles (18,672 Model S/X and 325,158 Model 3/Y). The amount represented a 42% year-over-year increase.
The company has also significantly increased its production. In the third quarter, it produced 365,923 electric vehicles (19,935 S/X and 345,988 3/Y models), 54% more than its production the previous year.
Wall Street also sees the rise in Tesla shares. For example, Morgan Stanley analyst Adam Jonas has an “overweight” rating on Tesla and a price target of $330, about 51% above the stock’s current position.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
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