3 Financial Lessons Elon Musk Follows That May Not Work for the Average American
It seems like what the world definitely needs more of is trillionaires, as that seems like the healthiest distribution of wealth to benefit everyone. But wait, do trillionaires actually exist? Yes, and if you don’t believe it, Google “Elon Musk net worth” or “richest person in the world,” to see whose financial advice you should take, or in many cases, shouldn’t.
Sure, Musk built Tesla and SpaceX, “fixed” Twitter with the X rebranding and established a reputation for turning wild ideas into billion-dollar businesses. Still, some of his personal money philosophies fall squarely into the "too high a risk with not so high a probability for reward" category.
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Here are three pieces of Elon Musk's financial advice that sound inspiring but might not be the best move for the amount in your bank account.
Work 100-Hour Weeks as That Will Always Be Worth It
Before you defend everyone’s right to be a billionaire, or even a trillionaire in this case, make sure you understand the aura within which you are basking.
One of Musk’s most famous ideas is that extreme work equals extreme success. He’s openly said he has worked upwards of 100-hour weeks, and Entrepreneur reported that Musk said he basically worked “every waking hour” during certain periods. Super healthy.
Now, that’s great if you want to launch some rockets (hopefully) to somewhere. However, for the average person juggling a 9-to-5, a side hustle and maybe a social life? Not so much.
Before you follow suit or take that blueprint literally, remember that burnout is real (and expensive). Your productivity will simply drop if you’re exhausted. Yes, hard work matters, but sustainable income strategies and work-life balance are what most financial experts recommend for long-term wealth building.
Put All Your Money Into What You Believe In
Musk has said to The Times of India that people should invest in companies they believe in and avoid panic-selling during market drops. That’s great if you have the funds to do so or say the roughly $419 to buy one share of stock that Tesla is currently (as of July 6, 2026) selling for.
Sure, on the surface, that sounds like solid investment advice for beginners, but the catch is that Musk himself has famously concentrated massive amounts of his wealth into his own ventures. In other words, he employs a strategy that comes with extreme risk. Tesla stock alone has shown major price swings, with volatility far above the broader market.
Concentrating your money in one investment can wipe you out and even famous companies can have unpredictable downturns. Emotional investing isn’t always rational investing, so keep in mind that diversification is still king.
Take Huge Risks, Even When the Odds Aren’t Great
Everyone should probably pump the brakes before taking this piece of advice from the world’s richest man (Forbes is currently reporting his estimated net worth to be about $1 trillion, so slightly down from the highest peak of $1.32 trillion).
Yes, without risk there may be no reward, but the amount of risk Musk embraces would most likely not pan out for someone making a salary closer to the national average of about $64,505 a year.
He’s said that if something is important enough, you should pursue it, even if the odds aren’t in your favor. However, this is also someone who doesn’t flinch if his net worth oscillates billions of dollars every day. That mindset has helped him build billion-dollar companies, but it also means he’s comfortable doing things most financial planners would call slightly terrifying.
Most people don’t have billions to fall back on, which is why calculated risk is good. Blind risk is not. Focus on low-risk, high-return strategies like consistent investing, building emergency savings and growing multiple income streams.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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