Elon Musk’s 1-year-old son has profited more from Doge than Bolsonaro in his whole life with stocks

Certainly rich parents make a difference in someone’s life, now imagine having the richest father in the world.

The famous baby of unpronounceable name X Æ A-Xii, son of Elon Musk with the singer Grimes, profited 457% from a meme cryptocurrency in 2 months. Meanwhile, our president Jair Bolsonaro is suffering losses of approximately 78% with a portfolio concentrated in Oi shares (OIBR3 and OIBR4), as shown by public TSE data.

Market influences

Named by TIME magazine as one of the 100 most influential people in the world, Bolsonaro has already made Petrobras lose R $ 100 billion in market value after nominating General Silva and Luna for the presidency of the public company.

Elon Musk, for his part, has already made Tesla fall more than 9% after tweeting that his shares seemed too high in his opinion.

But Musk has a much greater influence when it comes to markets with smaller volumes, such as Dogecoin. In July 2020, a tweet from the billionaire made DOGE earn $ 40 million in market value in just 3 minutes.

Hi dogecoin!

Probably for this reason, in February of this year, Musk bought dogecoins for his son, nicknamed lil X. And the result is impressive.

With memetic support from other celebrities, dogecoin rose in both dollar and bitcoin, making X earn more than bitcoiners in this period.

Dogecoin has gone from 7 to 39 cents since the purchase of X. An increase of approximately 457%. Source: CoinMarketCap.

We don’t know how much was nominally earned, but a 457% rise would turn $ 1,000 into $ 5,570 or $ 50,000 into $ 278,500. When your father is the richest man in the world, your allowance can go up to the moon (or even Mars).

Just as a comparison, Bolsonaro’s portfolio falls by about 78% composed only of Oi shares. The rest of his investments are in fixed income and savings, increasingly losing value in the international market.

This was Bolsonaro’s investment portfolio, according to his breakdown of assets in the TSE.

For long periods, its stock portfolio has already lost more than 92%, but the recent 2021 appreciation has mitigated its losses. As we have shown in the article “OIBR, the history and graphics of a disaster“, the history of the telephone company Oi is quite troubled.

Did we really enter the era of meme investments? Leave your opinion in the comments below.

(embed) https://www.youtube.com/watch?v=jlSsskmy_YM (/ embed)

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