It seems that everyone is thinking Elon Musk is a hero and will save the world now that Musk owns Twitter.
But…and this is a Very Big Butt…
We’re not convinced this is anything more than another avenue for Musk to play the game he plays so well.
Huh?
Let me explain.
From the beginning, Musk bought 9% of Twitter.
As a result, everyone said he became the largest shareholder.
Not true.
If you look ‘behind the curtain’ you’ll see that several of the Boyz in the “Club” – Blackrock, Vanguard, State Street and Morgan Stanley – own a combined 30% of all Twitter shares.
And you probably don’t know that Blackrock and Vanguard have a controlling interest in State Street and Morgan Stanley as well.
This makes them an effective monopoly that dwarfs Musk’s’ 9%.
Now That Musk Owns Twitter…LOL!
Let’s connect some dots here.
The announcement of Musk acquiring Twitter made the stock jump 27% in one day.
You probably also don’t know that Blackrock and Vanguard are the majority owners of …wait for it…TESLA.
Ta, Da!
So, Musk essentially handed his handlers a massive 27% increased profit in their 30% controlling stake.
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And that, my dear readers, is how Wall Street works in a nutshell.
The “Club” ALWAYS takes care of its fellow members.
Unless, of course, the members pull a stunt like Bear Stearns and Lehman Brothers did by not supporting the group during the Long-Term Capital Management fiasco circa 1998 (read about it HERE).
Long story short…it ended with Bear and Lehman being assassinated by the “Club” in 2008.
So, if you still think Elon Musk is a champion of free speech you may just be wrong.
More realistically he’s quite possibly one of the greatest con artists of all time?
Obviously, time will tell.
In the meantime, it would behoove you to pay attention to how Wall Street works ‘behind the curtain’ in order avoid tripping over one of their many minefields.
And the best way we know how to do that is by reading our “…In Plain English” newsletter (HERE).
We have over 110+ years of combined experience on Wall Street.
And we’re confident you can learn from our experience.
Why?
We don’t operate on theory. We operate on experience.
And a man with an experience is never at the mercy of a man with a theory.
Check it out for yourself (HERE).
And share this with a friend…especially if they think that rich guys like Musk are their friend.
They’ll thank YOU later.
At Financial$Matter We’re Not Just About Finance.
We simply use finance to give you hope.
https://www.financialsmatter.com/category/in-plain-english/
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