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TBF anyone who has their net worth almost entirely tied up in the US stock market has seen their wealth decrease by nearly 40% in the last year.

The market is down ~15% this year. 40% is massive underperformance compared to it.

Not at all. the S&P 500 only down 20%, dow down just 10%.

True, but Musk is supposed to be smarter than us mere mortals.

Who said it was a business decision on his part? If Elon Musk just tried to make money, do you think this is the way he would behave?