Elon Musk mocks Warren Buffett for being poorer than him in a fairly recent tweet, suggesting the investor should buy Tesla stock to do better. And exact; what Elon Musk considers is that "Maybe Buffett should invest in Tesla, haha". The CEO of Tesla and SpaceX has a net worth of $236 billion, or more than double the $103 billion fortune of the CEO of Berkshire Hathaway.
Musk could not miss the opportunity to respond to a Twitter thread that recalled that his wealth was greater than that of Buffett and Microsoft co-founder Bill Gates combined. Evidently, he doesn't expect Buffett to become a Tesla shareholder; the 91-year-old looks for bargains and sticks to businesses he understands. Tesla's market capitalization has soared nearly 10-fold since the start of 2020, and the company has made big bets on AI and Bitcoin, which we don't expect will eat into its profits.
Of course, this is not the first time that the Tesla boss has stood up to big investors, but now he has done it with more power than before. Musk promises not to be a big fan of big investors. In fact, on several occasions he has mocked both the Berkshire project and Buffett's "good-natured grandfather."
How to think about $GBTC now: It's a 0% coupon, 3-year bond with a warrant attached ~3 years until $BTC ETF appro… https://t.co/Z2GjcJtqiJ
— Jeff Dorman, CFA Fri Apr 30 18:31:27 +0000 2021
Buffett defended the concept at Berkshire's annual shareholder meeting that year. He pointed to Geico's low costs and customer loyalty to brands like Coca-Cola and Snickers as examples of powerful moats keeping rivals at bay.
"Elon can turn things around in some areas," Buffett acknowledged on several occasions. But since Elon Musk jokes come out of his ears, he gave the following answer; “I'm starting a candy company and it's going to be amazing.” To which Buffett, not understanding Musk's humor, claimed that he wasn't interested in Tesla stock. And, bunting, no deal!
Buffett has previously praised Musk as a "remarkable guy" but suggested he has "room for improvement" and should be more selective about what he tweets. Who agrees? It seems that we like him quite well...
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