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How This Elon Musk “Fanboy” And Tesla’s Third-Largest Individual Shareholder Made $ 7 Billion

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How This Elon Musk “Fanboy” And Tesla’s Third-Largest Individual Shareholder Made $ 7 Billion

| Business News Today | Google News


Singapore-based Leo KoGuan is the third-largest individual shareholder in electric car maker Tesla, behind billionaire Larry Ellison and Tesla CEO Elon Musk.

According to bank records, KoGuan owned 6.31 million Tesla shares as of September. Bloomberg reported. Apart from this, KoGuan also had 1.82 million options that entitle him to buy or sell Tesla shares between $ 450 and $ 550 each.

“I’ll rise and fall with Tesla,” the self-proclaimed Musk fan tweeted in September.

He also said that he believed in “Elon’s great mission.”

After that, the value of his alleged properties soared to $ 4 billion, then $ 5 billion, and now more than $ 7 billion, according to Bloomberg.

Who is Leo KoGuan?

KoGuan is a low-profile investor born to Chinese parents in Indonesia in 1955. He studied international affairs at Columbia University and law at New York Law School. KoGuan founded SHI International, a software company in New Jersey, after purchasing assets from a bankrupt software provider in 1989. SHI now has more than 20,000 customers, including Boeing and AT&T. He is popular in China for donating money to the best universities. KoGuan lives in his $ 46 million penthouse in Singapore that he bought from British investor James Dyson.

Your investment mojo

KoGuan calls himself a retail investor that went public in 2019. He invested in companies like Baidu, Nio, and Nvidia, but then focused on the California-based electric car maker. In 2019, the billionaire met Elon Musk at SpaceX headquarters in Los Angeles. By early next year, KoGuan had bought 2.3 million shares, worth around $ 1.5 billion. However, he almost lost everything once the markets crashed due to the COVID-19 pandemic. Not giving up hope, KoGuan kept buying stock options, making a profit as prices soared and using them to buy real stocks, in a process of duplication.

His investment motto: Stay with Tesla, keep folding and believe in Elon Musk.

“Sometimes you win, sometimes you lose. Fortunately, I win more times than I lose,” KoGuan said. Bloomberg in a Zoom interview.

Financial advisers have warned that big option bets like KoGuan can cause volatile price swings and that it is always best to diversify investments across multiple options. But KoGuan does not bow. He says he believes Tesla is on a one-way path to becoming the largest company in the world. And with it, your fortune will also increase.

Sources

(Edited by : Thomas Abraham)

First published: IST


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How This Elon Musk “Fanboy” And Tesla’s Third-Largest Individual Shareholder Made $ 7 Billion

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