Elon Musk wants Warren Buffett to invest in Tesla stock

Tesla Inc (NASDAQ: TSLA) is in focus today after Elon Musk - its chief executive said Warren Buffett should take a stake in his electric vehicles behemoth. 

Here’s what Musk wrote on ‘X’ today

The legendary investor and chairman of Berkshire Hathaway Inc “should take a position in Tesla. It’s an obvious move”. That’s what Musk wrote in a post on “X” on Monday. 

His comment arrives only days after the multinational conglomerate said it trimmed its stake in Apple Inc by some 13% for tax reasons in the first quarter. 

Berkshire Hathaway also published its Q1 earnings report over the weekend that you can read in full on this link. 

Note that Buffett’s holding company has close to $190 billion in cash at writing.

Buffett mentioned Tesla in the annual meeting

It is also worth mentioning that Warren Buffett did talk about Tesla in an annual meeting this past Saturday. 

Costs and prices both will go down if automation technology of the EV giant succeeds in minimising road accidents, he noted. $TSLA, however, is yet to achieve that milestone, as per Ajit Jain - vice chairman of Berkshire’s insurance business. 

Buffett expects Berkshire Hathaway to post “modest growth” in operating earnings this year. Decisions related to investing in equities will rest with Greg Abel should you step down, the billionaire added in the annual meeting. 

Class B shares of his multinational conglomerate holding company are up more than 10% versus the start of 2024 at writing.