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Elon Musk explains why he is not like Warren Buffett

Two of the world's richest men have divergent approaches to business.

October 23, 2022 / 02:45 PM IST

Elon Musk has made it clear on multiple occasions that he is not Warren Buffett's biggest fan: whether it's calling his job "super boring" or disagreeing with his investing suggestions.

Recently, at the Tesla earnings call, Elon Musk, was asked if he would consider putting his diverse ventures under a parent organisation, like Warren Buffett's Berkshire Hathaway, Fortune magazine reported.

His response? I am not Warren Buffett.

“I actually work and design and develop products. We’re not going to have a portfolio of investments or whatever," said Musk, who heads EV maker Tesla, aerospace company SpaceX and infrastructure company The Boring Company.

In process, Musk, currently the world's richest person, indicated he would want to keep his companies separate. “It’s not clear to me what the overlap is," he was quoted as saying by Fortune.

The Tesla boss has in the past dismissed Buffett's advice to investors to find companies with "moats" or buffers around them.

In 2018, Musk said “moats are lame” and it is the speed of innovation that matters, CNBC reported.

Buffett had a sharp response to Musk's comment.

“Elon may turn things upside down in some areas. I don’t think he’d want to take us on in candy,” he had said, referring to See's Candies, the company he bought in 1972.

Warren Buffett’s ‘dream’ investment – a small candy company he bought 50 years ago

first published: Oct 23, 2022 02:45 pm