Elon Musk Receives High Praise From Warren Buffett And Charlie Munger, Is It A Handover Between The Old And New Defenders Of American Capitalism?
The image of Warren Buffett and Charlie Munger praising Elon Musk is perhaps an acknowledgment of the tech mogul as the new pioneer of business on this side of the Atlantic.
Of course, Buffett, 92, and Munger, 99, two experienced and revered investors, often have nice words and praise for CEOs and other entrepreneurs over their long careers, but the timing of Musk’s praise is not insignificant.
Tesla (TSLA) co-founder and CEO – GET FREE REPORT There’s a key moment in his ambitions: He’s on the verge of making Tesla an automaker capable of producing millions of electric vehicles per year for a variety of consumers with varying purchasing powers. is capable of. If he pulls it off, he will have succeeded in one of the biggest challenges he faces, which is persuading the average Joe to drive an electric vehicle.
Huge advances in artificial intelligence are also bringing Musk and Tesla closer to their goal of turning their vehicles into four-wheeled living rooms. To do this, Full Self Driving, or FSD, Tesla’s driver assistance system, continues to add features to make the company’s cars autonomous, despite regulators probing its role in several crashes.
Elon Musk and his aerospace company SpaceX are also very close to their dream of conquering and living on Mars. They managed to launch Starship, the world’s most powerful rocket, last month, even though that orbital flight ended seconds after blast-off. Kasturi has promised another attempt within a month or two.
Starship is a spacecraft expected to take humans to Mars and return them to the Moon, making the first orbital flight of this reusable rocket historically significant. A successful flight would have been a huge step forward for humanity and for Musk, who has given himself the mission of empowering humans to live on the Red Planet in our lifetime.
A shareholder from Toronto, Canada, said, “I have a question for Charlie [Munger] that you answered in the past.” “You once mentioned that you would prefer to hire someone with an IQ of 130 over someone with an IQ of 120 over someone with an IQ of 150.
I understand you were referring to Elon Musk. Given the recent success of his ventures such as Tesla, SpaceX and Starlink, I’m curious to know if you still consider Elon Musk overrated?”
Their responses were full of compliments which would be the dream of any CEO and entrepreneur. Munger responded, “Yes, I think Elon Musk underestimates himself, but he’s very talented, so he’s underestimating someone who doesn’t need to be very talented.”
“Elon is a fantastically talented guy and I would say he can score over 170, but he dreams about things and his dreams have got a base.” For Munger, Musk “would not have achieved what he has in life had he not strived for unreasonably high goals.”
He concluded by saying that he and Buffett would not compare Musk because “he likes to try and do the impossible. We were different. Warren and I are looking for that simple thing that we can identify with.”
Interestingly, these comments were made during Berkshire Hathaway’s (BRK.B) annual shareholder meeting – Get Buffett’s free report from the holding company. He is the chairman and Munger is the vice-chairman.
At the center of this event are traditionally two non-politicians. Millions of investors eagerly wait to hear his every word. They are stars. Praising Musk with these words, knowing that his comments would resonate around the world, undoubtedly sent a signal to the business community and investors that the tech mogul is now a force to be reckoned with.