The fabulously wealthy usually get that way by concentrating almost all their assets in one investment and having that investment perform really well. Unfortunately that’s a risk that most of us cannot afford to take. Elon Musk has control and visibility when it comes to Tesla. But that’s not a vision that’s shared with investors. Generally it doesn’t pay for us to concentrate too much in one investment. If things go wrong, we could be wiped out.
This concentration can happen in many ways: Having lots of stock in the same company that you work for (bankruptcy). Having most of your capital tied up in real estate in the same location (earthquake, fire). Owning very similar stocks (2000 tech crash), etc.
Take a very broad look your investments, and since you may not be objective, get someone else to help you. Look at the types of investments, their locations, their risk. Make sure you spread that risk around. Yeah, you probably won’t end up being Elon Musk. But you also probably won’t end up waiting at the mailbox for your next social security check every month.