Elon Musk is a 49-year-old entrepreneur born in South Africa.
According to Forbes, the founder, CEO, and chief engineer of SpaceX has a net worth 152.3 billion dollars.
He has accumulated a large business profile, becoming the CEO of Tesla, founder of The Boring Company, and co-founder of Neuralink.
Take a look at how Musk has used his business acumen to manipulate the market below.
Latest Meme Signals Bitcoin Tumble
Yesterday, Musk posted a confusing meme that showed a couple breaking up over the male partner quoting Linkin Park lyrics. He added the hashtag #Bitcoin alongside a broken heart emoji.
Experts suspect that the meme has something to do with the fact that Tesla has suspended accepting Bitcoin payments due to how destructive it can be to the environment.
Another theory is that Tesla has sold off its Bitcoin holding, although this is unlikely.
An Ill-Advised Tweet Sent Tesla Into Turmoil
Some of Musk’s market manipulations have resulted in fines from the Securities Exchange Commission (SEC).
After tweeting that he was considering taking Tesla private at $420 a share in August 2018, the price of Tesla skyrocketed up by15%.
The SEC considered that Musk was providing an “insider tip” and he faced over 20 million dollars in fines.
Musk’s Appearance On ‘The Joe Rogan Experience’ Caused Tesla’s Price To Plummet
During Musk’s appearance on “The Joe Rogan Experience,” he sipped whiskey and smoked marijuana during the episode.
After the podcast aired, a pair of C-suite executives resigned and Tesla’s stock plummeted.
As Chief Accounting Officer Dave Morton said in a statement: “Since I joined Tesla on August 6, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations. As a result, this caused me to reconsider my future.”
He Helped GameStop’s Price Skyrocket
Back in January of this year, he tweeted, “GameStonk!” and included a link to the Reddit forum “WallStreet Bets.”
The hype sent GameStop’s stock up by almost 300% practically overnight, and was poised to go higher, until a group of brokers froze all purchase orders on GameStop, causing the price to fall 90%.
The price of GameStop is currently 258.36 per share as of noon on June 4, 2021.
Musk Has Become The ‘Doge Father’
Musk is considered the “Doge Father” because he is the single biggest holder of Dogecoin and he tweets about it frequently.
Leading up to his appearance as host of “Saturday Night Live,” the price of Doge skyrocketed, almost hitting a full dollar per coin, only to crash back down to pennies just before the episode aired.
During the episode, he mentioned his newest “hustle,” using Dogecoin to fund a SpaceX satellite, which caused the price to rise once again.
Keep scrolling to see how the “SNL” cast reacted to having Musk as host!
