Elon Musk invites billionaire investor Warren Buffett to invest in Tesla amidst global EV sales slowdown
Elon Musk invites billionaire investor Warren Buffett to invest in Tesla amidst global EV sales slowdown
In a bold move on Monday, Elon Musk extended an invitation to renowned billionaire investor Warren Buffett, urging him to consider investing in Tesla. The call comes as Tesla grapples with challenging times amidst a worldwide slump in electric vehicle (EV) sales.
Responding to a user on X, who suggested that Berkshire Hathaway owner Buffett should divest his shares in Apple and redirect his investments towards Tesla, Musk asserted that such a move would be “obvious” for the seasoned investor.
“He (Buffett) should take a position in Tesla. It’s an obvious move,” declared Musk in a social media post.
Notably, while Buffett’s Berkshire Hathaway currently holds a stake in Chinese EV manufacturer BYD, it has yet to acquire shares in Tesla, a significant player in the EV market.
The exchange between Musk and Buffett extends beyond investment discussions. Over the weekend, Musk responded to a post quoting Buffett’s advice on cherishing time with loved ones, expressing his desire to spend his final moments with his children.
This isn’t the first time Musk has reached out to Buffett regarding investment opportunities. Musk previously extended an offer to Buffett to invest in Tesla during its early stages when the company’s value stood at a mere 0.1 per cent, amounting to less than $7 billion of its present valuation.
Reflecting on missed opportunities, Musk lamented, “Too bad he didn’t invest in Tesla when it was 0.1 per cent of today’s value,” in a recent post.
Tesla’s financial performance has been under scrutiny as the company reported significant losses in the first quarter of this year. The electric car manufacturer witnessed a staggering 55 per cent decline in net profit, dropping from $2.51 billion to $1.13 billion compared to the same period last year.
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