Trying to fit in someone else's shoes is never a good idea if you don't have the same status. Imitating the rich can be beneficial at times, but it can be devastating as well sometimes because those who are rich can afford to lose some money, but you, as an imitator, can't afford to do that, so if they lose their money in something they are doing, they would still be fine, but if you lose your money while imitating them, you will be in a lot of trouble because you will probably not have a lot of money like them.
What Elon Musk or other businessmen did during the elections by supporting their leaders is something only millionaires and billionaires can do; they knew that if the person they are supporting wins, they are going to make a hefty amount back, but if they lose, they are going to lose their investment that they can easily afford to lose.
Now, someone who buys shares should be sure of their investment and whether they can afford to lose the money or not because if the stock loses value, it will cost them for sure.