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One year after being bought for $44 billion, X is worth $19 billion
(arstechnica.com)
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this post was submitted on 31 Oct 2023
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That's an interesting claim to make, especially on this post ๐
Indeed very interesting. It is a fundamental principle of finance: Investors seek to maximize utility, but this is under the axiom of complete rationality. And even if that condition is met (which I doubt), the utility function of money is not concave at all levels, for example leftmost of the graph, before the price of food. I think that after some point, utility becomes flat and Musk is way beyond that point. Additionally he seems to be a risk loving investor, not a risk averse.