Elon Musk, Tesla Inc.'s outspoken CEO, frequently gains attention for his vocal presence on his platform, X, formerly Twitter. He doesn't shy away from expressing his opinions or setting the record straight when confronted with misinformation about himself.
In June, a user wrongly assumed that Musk was an investor in Tesla, prompting the billionaire to respond, "You have the ‘invests in Tesla' part wrong. Do I look like Warren f******* Buffett to you?"
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The post triggering the response read: The journey of Elon Musk: 2023: Twitter becomes X; 2022: buys Twitter; 2016: starts Boring Co.; 2016: starts Neuralink; 2015: starts OpenAI; 2004: invests in Tesla; 2002: starts SpaceX; 1999: starts X (becomes PayPal); 1995: starts Zip2 (sold to Compaq); 1990: sells PCs in college dorm.
There is a clear difference between Musk’s and Buffett's investment philosophies.
Buffett, currently the fifth-richest person in the world, is renowned for his strategic investments in well-established, successful companies.
In contrast, Musk identifies himself as a builder of businesses, often taking struggling startups and transforming them into successful ventures. He is currently ranked as the No. 1 richest man in the world with a net worth of $264 billion, according to Forbes.
An example of Musk's hands-on approach is evident in his role at Tesla. Before his involvement, Tesla was merely an idea. Musk has emphasized his role as an engineer, manufacturing expert, and technologist rather than a conventional investor.
But this isn't the first time Musk made it clear he's not like Buffett. In 2022, during a Tesla earnings call, Musk stated, "I'm not an investor. I am an engineer and manufacturing person and a technologist."
The comment was in response to an analyst's query regarding the possibility of consolidating his various endeavors, ranging from SpaceX to Twitter, under a single parent corporation, similar to how Buffett's Berkshire Hathaway Inc. has amassed a diverse investment portfolio encompassing companies like International Dairy Queen Inc., Duracell, GEICO and Fruit of the Loom.
Musk's determination to maintain the autonomy of his diverse ventures is clear. He believes in keeping each of his companies separate, stating, "It's not clear to me what the overlap is. It's not zero, but I think we're reaching."
He sees himself as a creator, not just a shareholder, rejecting the idea of assembling a conventional investment portfolio.
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