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    Home » Elon Musk Urges Warren Buffett to Invest in Tesla Shares
    Technology

    Elon Musk Urges Warren Buffett to Invest in Tesla Shares

    Olamide SanniBy Olamide SanniJune 2, 2024No Comments3 Mins Read
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    A picture of Elon Musk
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    A post on X suggested that Berkshire Hathaway should sell its share worth $135 billion in Apple and buy Tesla. In response, Tesla CEO Elon Musk said it was evident that there was a probability of investing in Tesla.

    The responses came in after Berkshire’s annual shareholder meeting, where the company announced that it had cut down 10% of its shares in Apple. However, the probability of Berkshire subscribing to Tesla stock is unlikely to happen anytime soon. 

    Warren Buffet and Munger’s Stance on the Automobile Industry

    Although the vehicle industry is highly competitive, Warren Buffet and the late Charlie Munger did not express a favorable stand for the industry in their last comment. For the record, Buffet and Munger are no novices when it comes to investing in electric car manufacturers, as Berkshire bought 10% shares of BYD in 2008, so there is still room for change.

    Challenges and Risks in the Automobile Sector

    Despite the great returns from their investment with BYD, Buffet and Munger made it known at their last shareholder meeting in 2023 that investing in the automobile industry is hard and involves too many risks.

    A picture of Berkshire Hathway
    Source: Pinterest

    ALSO READ: Trump vs. Musk: A Debate on Tariffs and Cryptocurrency

    Warren Buffet’s Perspective on the Automobile Industry

    Warren Buffet says he and Munger had always believed that the automobile industry is vast. With numerous manufacturers and competitors all over the globe, everyone is doing all it can to stay in the market. Your dominance today doesn’t give you a lasting place in the market, as there is always a new winner and success at any time.

    Charlie Munger on the Electric Car Market

    “For Apple, I can envisage where it’s going to be in the next 5 to 10 years,” Munger said. “I can’t say the same for the automobile business.” Munger acknowledged the increase and growth the electric car is experiencing.

    However, he noted that they also come with responsibilities and require large capital and risk. Furthermore, Munger said it poses large capital and high risk, which is something he doesn’t like.

    Tesla’s Position and Future Plans

    Apparently, this would not be the first time Elon Musk would recommend Tesla to Berkshire Hathaway for investment.

    A picture of Tesla Electric Car
    Source: Pinterest

    In a report by Berkshire Hathway, the first quarter revenue report submitted by five companies was 75% of the fair value of their equity investments. These companies include Apple, Coca-Cola, Chevron, Bank of America, and American Express.

    ALSO READ: Elon Musk Removes Disney+ From Tesla Vehicles Amid Feud With Disney CEO

    The electric car manufacturer reported the first quarter outcome in April. According to the company, they are experiencing two significant growth levels. The first one is the global expansion of the Model 3-Y platform.

    They expect the second to be initiated ahead in terms of autonomy and bringing in new products, with the ones built on their next generation of vehicle platforms. The company plans to release a new vehicle brand that will hit the market next year and also work on reducing costs.

    It also has an event scheduled for August this year, which is mainly for Robotaxi creativity.

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    Olamide Sanni

    Olamide Sanni is a content writer, editor, and publisher. She is an avid gamer, reader, and movie lover. She is a sucker for adventure, and she loves trying out new recipes at the expense of her pocket and others’ taste buds.

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