When Elon Musk speaks, people listen – especially when the topic turns to other billionaires. Back in 2020, during a New York Times interview with Maureen Dowd, Musk was put on the spot in a game of "Confirm or Deny." The statement? "Warren Buffett is overrated."
Musk's response wasn't a direct confirmation or denial. Instead, he chuckled and said, "Hahaha. Um, I think he has managed to create a great image for himself as a kindly grandfather, which is maybe overstating the case."
That's classic Musk: candid, off-the-cuff and impossible to ignore.
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A Not-So-Warm History
While Musk didn't outright call Buffett overrated, it's clear the two aren't exactly kindred spirits. Their differences go beyond business philosophies – they've made their feelings about each other known, albeit with a mix of sharp remarks and occasional respect.
On The Joe Rogan Experience in 2020, as reported by CNBC, Musk didn't hold back, saying, "To be totally frank, I'm not his biggest fan." He added, "He does a lot of capital allocation. He reads a lot of sort of annual reports of companies and all the accounting, and it's pretty boring really."
Musk's skepticism toward Buffett's strategies isn't new. In a 2018 Tesla earnings call, he dismissed Buffett's famous concept of economic moats – companies' competitive advantages that protect them from rivals. "First of all, I think moats are lame," Musk said. "They're like nice in a sort of quaint, vestigial way. But if your only defense against invading armies is a moat, you will not last long. What matters is the pace of innovation. That is the fundamental determinant of competitiveness."
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Buffett, the cool-headed investor, responded with trademark wit during the 2018 Berkshire Hathaway shareholder meeting: "Certainly you should be working on improving your own moat and defending your own moat all the time. And Elon may turn things upside down in some areas. I don't think he'd want to take us on in candy."
Respect Beneath the Rivalry?
Despite these jabs, there's no real evidence of bad blood. In fact, Buffett has acknowledged Musk's genius. At Berkshire Hathaway's 2023 shareholder meeting, Buffett called Musk a "brilliant, brilliant guy" and praised his "dedication to solving the impossible." Charlie Munger, Buffett's longtime business partner, echoed the sentiment, saying Musk "would not have achieved what he has in life if he hadn't tried for unreasonably extreme objectives."
Musk responded graciously, posting on X, "Appreciate the kind words from Warren and Charlie."
Different Roads to he Top
At the core of their dynamic are fundamentally different worldviews:
• Risk Tolerance: Buffett is famously risk-averse while Musk thrives on high-stakes bets – think SpaceX rockets and Tesla's electric revolution.
• Innovation vs. Stability: Musk is all about disruption. Buffett prefers stable, time-tested businesses.
• Investment Philosophy: Buffett looks for "economic castles protected by unbreachable moats" while Musk bets on constant innovation as the key to survival.
Still, they share common ground. Both value long-term thinking and understand the power of focusing on what you do best.
So, is Warren Buffett overrated? Musk didn't say yes – but he didn't say no, either. What's clear is that even among billionaires, respect doesn't always mean agreement. And maybe that's the point.
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