There isn’t a week that goes by that coverage of Elon Musk isn’t dominating news headlines. Strikingly, a lot of the coverage concerns his own posts on X, where it has been estimated that he has the ability to significantly influence markets in both positive and negative directions by evoking strong emotions among the public.
For example, his commentary on Bitcoin has been estimated to have led to abnormal returns of the cryptocurrency, raising the price by about 17% with a single post. But what has brought us to a place where Musk elicits such high emotions from people who do not know him personally?
