Buffett: Musk does great, but won’t invest in Tesla

Warren Buffett, chief executive of Berkshire Hathaway, made it clear in an interview that he would not invest in Tesla stock, according tomedia reports. Buffett is one of the most successful and respected investors of all time, while Tesla, the electric car maker, is one of Wall Street’s most controversial investment targets.

Buffett: Musk does great, but won't invest in Tesla

When Buffett gave a recent interview to Yahoo! financials, and Yeois, the editor-in-chief, naturally asked Buffett about Tesla and its chief executive, Elon Musk.

Berkshire Hathaway has never invested in Tesla, but by the end of 2019, Berkshire had $1.57 billion worth of GM shares.

Asked what he thought of Mr. Musk, Mr. Buffett was cautious. “I think you’re a little induced to mean,” he said. “He did something great. “

Buffett went on to say that he and Musk met after he joined the Donation Pledge a few years ago. The Donation Pledge is a joint initiative by Buffett and former Microsoft CEO Bill Gates to encourage the world’s richest people to donate most of their wealth to charity.

Buffett’s net worth is about $74.1 billion, while Musk’s is about $40 billion, according to Forbes.

“I’ve only met him once or twice, and I’ve talked to him, but it didn’t take long,” Buffett said of Musk.

But when it comes to whether Buffett will invest in Tesla stocks, his answer is clear.

“No,” Buffett said.

Buffett doesn’t like Tesla, which is not surprising because he has been investing in value and shunning high-price-to-earnings stocks. Given that Buffett has never invested in Alphabe or Netflix, such stocks are not an exception to shunned Tesla.