Saturday, May 18, 2024

Musk invites billionaire investor Warren Buffett to invest in Tesla


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Shillong, May 6: Elon Musk, on Monday, invited billionaire investor Warren Buffett to come and invest in Tesla, which is facing tough times amid global slowdown in EV sales.

Replying to an X user who posted that Berkshire Hathaway owner should sell all his shares in Apple and buy Tesla instead, the electric car company owner responded that it is an “obvious move” for him.

“He (Buffett) should take a position in Tesla. It’s an obvious move,” posted the X owner.

Buffett’s Berkshire Hathaway has a stake in Chinese EV maker BYD but not in Tesla.

Last weekend, in response to a post quoting Buffett’s advice about the importance of spending time with loved ones, Musk replied that he would love to spend the last day of his life with his kids.

Musk had even invited Buffett to invest in Tesla early on, when the company was worth 0.1 per cent, or less than $7 billion, from what it is today.

“Too bad he didn’t invest in Tesla when it was 0.1 per cent of today’s value,” Musk posted on X recently.

The tech billionaire is trying to “reorganise” Tesla as the electric car company registered heavy losses in the January-March quarter this year.

The company’s net profit plunged 55 per cent to $1.13 billion from $2.51 billion in the year-ago quarter. (IANS)


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