Nebraska Gov. Pete Ricketts previews the multinational conglomerate’s annual meeting on The Claman Countdown.
Berkshire Hathaway’s Warren Buffett and Charlie Munger spoke positively about Elon Musk on Saturday, using words like “brilliant” and “talented” when talking about him.
Buffett and Munger made the brief comments about the tech billionaire at the conglomerate’s annual meeting, which discussed artificial intelligence, investments, and other topics. The remarks later prompted a response from Musk, who responded in a tweet that he “appreciates[d] kind words” from the Chairman and Vice Chairman of Berkshire Hathaway.
Buffett used the phrase “brilliant, brilliant guy” to describe Musk, adding that the billionaire “dreams about things and his dreams have a basis.”
Warren Buffett, Chairman and Chief Executive Officer of Berkshire Hathaway Inc., speaks during an interview with Bloomberg Television in New York, Wednesday, August 30, 2017. Buffett said the rally in markets over the past few years has done… (Christopher Goodney/Bloomberg via Getty Images/Getty Images)
“I think Elon Musk overestimates himself, but he’s very talented,” Munger said in footage of the event released by CNBC. “So he’s overestimating someone who doesn’t have to overestimate to be very talented.”
WARREN BUFFETT SAYS IT WAS “INEVITABLE” THAT THE GOVERNMENT WOULD COVER DEPOSITS TOTALLY AT SILICON VALLEY BANK
Musk “would not have achieved what he has achieved in life if he hadn’t striven for unreasonably extreme goals,” Munger said.
He said he thinks Musk enjoys “taking on the impossible job and doing it,” a point where he and Buffett differ from Musk. They “are looking for the easy job that we can identify,” Munger said.
Elon Musk attends the 2022 Met Gala celebrating In America: An Anthology of Fashion at the Metropolitan Museum of Art on May 2, 2022 in New York City. (Theo Wargo/WireImage/Getty Images)
Both said they have different approaches compared to Musk, with Berkshire Hathaway’s CEO adding that they “don’t want to compete with Musk on a lot of things.”
Warren also seemed to imply he wouldn’t enjoy Musk’s work, saying, “She’s taking over your life in a way that just doesn’t suit us.”
He noted that Musk has done “important things” but said it takes a “dedication to solving the impossible.”
“Once in a while he does, but it would be torture for me or Charlie.”
In a recent interview with HBO’s Bill Maher, Musk stated that he works “a lot” because he holds the CEO title at three companies — Tesla, SpaceX, and Twitter. In late October, he added to his resume that he was Twitter’s owner and CEO, and bought the company in a $44 billion deal.
| ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 171.79 | +1.73 | +1.02% |
BERKSHIRE HATHAWAY’S CHARLIE MUNGER SHARES AI SKEPTICS, WARREN BUFFETT COMPARING TECHNOLOGY TO ‘NUCLEAR BOMB’
Musk has previously spoken out about his work life, including in November when he described the strain as “not something I would recommend.”
Elon Musk, Chief Executive Officer of Tesla Inc., exits court in San Francisco, California, Tuesday, January 24, 2023. (Marlena Sloss/Bloomberg via Getty Images/Getty Images)
On the same day that Berkshire Hathaway held its annual meeting, the conglomerate released its first-quarter financial results.
| ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BRK.A | BERKSHIRE HATHAWAY INC. | 496,536.59 | +4,696.59 | +0.95% |
| BRK.B | BERKSHIRE HATHAWAY INC. | 326.14 | +2.26 | +0.70% |
During the quarter, Berkshire Hathaway reported that its total revenue increased 20.5% year over year to $85.39 billion from $70.84 billion.
JUMP IN PROFIT AT WARREN BUFFET’S COMPANY BERKSHIRE HATHAWAY
Net income reached $35.5 billion, a figure that included $27.4 billion in investment and derivatives income and $8.1 billion in operating income. It was $5.58 billion for the same period last year, up 536%.
Warren, whose estimated net worth is $114 billion, has been Berkshire’s CEO for decades.