Elon Musk “coffee” Warren Buffett: If you want to be as rich as me, buy Tesla stock!

Tram Ho

These days, billionaire Elon Musk is enjoying unprecedented records with his fortune continuously expanding thanks to the rapid increase in the price of Tesla shares as well as the optimism of investors about the space company. private SpaceX. However, Musk is known to be a person who likes to kick people around and the latest “victim” is legendary investor Warren Buffett.

Recently on Twitter, when asked about himself being richer than Buffett and Bill Gates combined, Musk replied: “Maybe Buffett should invest in Tesla, haha.” According to the latest statistics from the Bloomberg Billionaires Index, Musk’s fortune has increased to $ 236 billion, more than double the $ 103 billion of the CEO of Berkshire Hathaway.

It was just a joke and Musk certainly did not expect Buffett to become a shareholder of Tesla. The 91-year-old legendary investor is known for his philosophy of only hunting for bargains and only pouring money into businesses he really understands. Since the beginning of 2020, Tesla’s market capitalization has increased nearly 10 times, and the electric car company is betting big on new technologies like artificial intelligence or bitcoin.

Elon Musk cà khịa Warren Buffett: Muốn giàu bằng tôi hãy mua cổ phiếu Tesla! - Ảnh 1.

Musk and Buffett have also had a few “fights” before. Most recently, Musk criticized Berkshire’s proposal to build 10 gas-fired power plants in Texas to prepare for the next energy crisis. Musk called this a “crazy” idea.

Although Musk has quoted Buffett a few times in the past, he himself admits he’s not “the biggest fan.” He considers allocating capital to all of Berkshire’s businesses a “boring job”. In addition, Musk once questioned whether Buffett is really “a gentle and simple old man” as his image still shows.

In particular, in an announcement of business results in 2018, Musk called the idea of ​​”economic moat” – sustainable competitive advantages such as a favorite brand or proprietary technology – that Buffett still maintains. focus when evaluating a business as “lame”. According to Musk, the speed of innovation and creativity is the determining factor in the competitiveness of a business.

Buffett later defended the “economic moat” idea at Berkshire’s annual shareholder meeting that year. He points to Geico’s low costs and customer loyalty to brands like Coca-Cola as examples of powerful moats that keep these companies ahead of the competition.

Maybe Elon has revolutionized some areas, but I don’t think he wants to take our candy ,” Buffett jokes, referring to the See’s Candies company Berkshire owns. .

Musk immediately responded by tweeting, ” I’m starting a candy company, that would be great “. In response, Buffett said in an interview that he would not compete with Musk in the big car space.

Buffett once described Musk as “a special guy” but advised Musk to “improve himself” and be more selective when speaking on Twitter.

Consult Business Insider

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Source : Genk