“A Sooke, B.C., carpenter who turned $88,000 into $415 million investing in Tesla stocks, only to lose it all in short order, has filed a lawsuit against the Royal Bank of Canada and an accounting firm.”
By April 2021, DeVocht’s net worth had grown to $186 million, according to the claim. By November of the same year, his securities portfolios were worth $415 million.
The claim says DeVocht was twice advised to donate to the RBC Charitable Gift Fund in order to obtain charitable tax credits, giving approximately $8.5 million in December 2020 and then another $17 million one year later.
By October 2022, Tesla shares were in sharp decline, and DeVocht’s investment holding company was forced to sell shares to repay loans from his RBC margin account.
“In time, the plaintiffs’ security holdings were worth nothing,” states the claim.
None of the defendants have filed a response.”
Legal_Squash2610 on
What was his endgame? Being the richest man in the world?
Low-Client-375 on
Bruh, sell. Thus is some next level greed.
motherseffinjones on
Can we put this guy in some sort of hall of fame. We should reach out and dedicate something to him, fucking legend.
jimmobxea on
Buy low, sell high imo.
MechanicalDan1 on
He was a $0.4 billionaire regard.
spacecadet501st on
From a legal standpoint does he have any actual ground?
dacalo on
How did he lose it all? Not like Tesla went to 0.
chiswis on
damn i would have probably sold when it reached 200k 
whistlepig4life on
I’d have sold at $10m and never looked back or regretted it. Let alone at $100m+
Casual_ahegao_NJoyer on
So he donated $25,500,000 and those are the only gains he took? Left his $390 mil to keep cookin with Papa Elon
That’s next level regarded
ContractIll9103 on
In today’s lesson, we learn when to take profits
That_anonymous_guy18 on
I think perhaps I should file a case against questrade, I lost about 150k in that account. How did they let a regard like me trade options? It’s their fault really
doh_13 on
This guy belongs here.
Luddites_Unite on
Certainly seems like a moron being milked. He should start a podcast for all of us to get advice
Luke296329 on
Anyone who manages to turns 88K into 400M using options is a gambling addict. He disregarded common sense and listened to the bank’s advice since it allowed him to continue indulging in his addiction.
Shadowthron8 on
It’s not like Tesla went bankrupt. How did it go to zero?
jojcece on
genuinely impressive display of stupidity, no notes
TreStation on
This guy is a loser.
trader69420_ on
Wouldn’t be surprised if he was on the sub as we speak
This is a more detailed article explaining how nuts this guy is. There is no way countless advisors there weren’t advising him to sell countless time. Dude just kept doubling down 😂
Almost 50,000%. If he’d have gone 100% cash for 1000 years he’d still have the greatest average return of any fund or manager in history. Instead, he’s the biggest fuckin loser in history 🤣
NoRustNoApproval on
MOVE ASIDE INTEL GRANDMA GUY…WE’VE GOT A NEW BIGGEST REGARD 🔥
ISpenz on
Banks are not your friend, and you have to know when to stop, genius gambler
cyberdipper on
The accountability is strong in this one.
blondellRust on
if i had 400 mill and reckless id still take out 50-100 mill and put it in low risk stuff just so i could sleep at night and know ill be ok for life no matter what happens.
abyssus2000 on
This man. He is the OG, the king, the GOAT regard. A shrine must be erected in his name. 
c_gleich_1 on
That man is a legend
dam0430 on
Listen, I get him chasing thy thrill and wanting to continue gambling, but jesus, take out 5 million so even if things go tits up you can live like a king for the rest of your life…
31 Comments
“A Sooke, B.C., carpenter who turned $88,000 into $415 million investing in Tesla stocks, only to lose it all in short order, has filed a lawsuit against the Royal Bank of Canada and an accounting firm.”
By April 2021, DeVocht’s net worth had grown to $186 million, according to the claim. By November of the same year, his securities portfolios were worth $415 million.
The claim says DeVocht was twice advised to donate to the RBC Charitable Gift Fund in order to obtain charitable tax credits, giving approximately $8.5 million in December 2020 and then another $17 million one year later.
By October 2022, Tesla shares were in sharp decline, and DeVocht’s investment holding company was forced to sell shares to repay loans from his RBC margin account.
“In time, the plaintiffs’ security holdings were worth nothing,” states the claim.
None of the defendants have filed a response.”
What was his endgame? Being the richest man in the world?
Bruh, sell. Thus is some next level greed.
Can we put this guy in some sort of hall of fame. We should reach out and dedicate something to him, fucking legend.
Buy low, sell high imo.
He was a $0.4 billionaire regard.
From a legal standpoint does he have any actual ground?
How did he lose it all? Not like Tesla went to 0.
damn i would have probably sold when it reached 200k 
I’d have sold at $10m and never looked back or regretted it. Let alone at $100m+
So he donated $25,500,000 and those are the only gains he took? Left his $390 mil to keep cookin with Papa Elon
That’s next level regarded
In today’s lesson, we learn when to take profits
I think perhaps I should file a case against questrade, I lost about 150k in that account. How did they let a regard like me trade options? It’s their fault really
This guy belongs here.
Certainly seems like a moron being milked. He should start a podcast for all of us to get advice
Anyone who manages to turns 88K into 400M using options is a gambling addict. He disregarded common sense and listened to the bank’s advice since it allowed him to continue indulging in his addiction.
It’s not like Tesla went bankrupt. How did it go to zero?
genuinely impressive display of stupidity, no notes
This guy is a loser.
Wouldn’t be surprised if he was on the sub as we speak
Which one of you is this
“You hosers better let me speak to a manager eh!”
This is a more detailed article explaining how nuts this guy is. There is no way countless advisors there weren’t advising him to sell countless time. Dude just kept doubling down 😂
https://www.bloomberg.com/news/articles/2024-10-04/carpenter-claims-he-made-306-million-on-tesla-then-lost-it-all/
Almost 50,000%. If he’d have gone 100% cash for 1000 years he’d still have the greatest average return of any fund or manager in history. Instead, he’s the biggest fuckin loser in history 🤣
MOVE ASIDE INTEL GRANDMA GUY…WE’VE GOT A NEW BIGGEST REGARD 🔥
Banks are not your friend, and you have to know when to stop, genius gambler
The accountability is strong in this one.
if i had 400 mill and reckless id still take out 50-100 mill and put it in low risk stuff just so i could sleep at night and know ill be ok for life no matter what happens.
This man. He is the OG, the king, the GOAT regard. A shrine must be erected in his name. 
That man is a legend
Listen, I get him chasing thy thrill and wanting to continue gambling, but jesus, take out 5 million so even if things go tits up you can live like a king for the rest of your life…