Musk said he builds things instead of playing the stock market and moving money around.
During the company's third-quarter earnings call on Wednesday, the CEO was asked if he thought it was worth creating a parent corporation. His businesses would be brought together by the holding company.
Musk said that he didn't see any similarity between his companies and that he didn't want to follow in the footsteps of Warren Buffet. See's Candies is one of the businesses owned by the conglomerate. Apple, Coca-Cola, and other public companies have billion dollar stakes in it.
Musk said on the call that he wasn't WarrenBuffett. I don't invest. I am an engineer and a manufacturer.
He said that he works and designs and develops products. We won't have a portfolio of investments.
Musk has taken aim at Buffett and his job, which is to identify and allocate capital within the company.
Last year, Musk said that he wasn't a fan of Warren Buffet. The annual reports are boring and he sits there and reads them.
He is trying to figure out if Coke orPepsi should get more capital. Musk said something else. I think it's a boring job.
Musk has acknowledged the skill and value of the work done by Buffet. The investor has been quoted on previous calls.
Similarly, Musk has been described as a "remarkable guy" who could be more careful with his statements on social media.
Their most famous fight was over candy. "Elon may turn things upside down in some areas, but I don't think he's done anything yet." He wouldn't want us to eat candy.
Musk said that he was starting a candy company. He tried and failed to come up with a better candy than the others.
The ultimate investor is Warren Buffet.
All Rights Reserved © 2024
