Elon Musk suggested on Sunday that Warren Buffett, CEO of Berkshire Hathaway, should consider investing in Tesla by purchasing a stake in the company.
Musk made this recommendation via his social media platform X, stating, “He should take a position in Tesla. It’s an obvious move.” Musk’s statement was prompted by a user’s suggestion that Buffett should divest his stake in Apple.
Berkshire Hathaway has held shares in Apple since 2016. As of March, the conglomerate’s investment in the tech giant was valued at approximately $135.4 billion, a decrease of around 22% from the end of the previous year.
Buffett confirmed on Saturday that Berkshire had sold off some of its Apple shares but reiterated that his overall view on the company remained unchanged. He stated, “At the end of the year, I would think it extremely likely that Apple is the largest common stock holding we have.”
In its first-quarter earnings report, Berkshire disclosed that five companies made up approximately 75% of the fair value of its total equity investments: American Express, Bank of America, Coca-Cola Company, Chevron, and Apple.
Meanwhile, Musk has been actively promoting Tesla and its initiatives in recent weeks. In April, as the electric vehicle (EV) maker announced its first-quarter results, the company highlighted its transition between two significant growth phases: the first being the global expansion of the Model 3/Y platform, and the next anticipated to be driven by advancements in autonomous technology and the introduction of new products, including those built on its next-generation vehicle platform.
Tesla is currently developing lower-cost and other new vehicle options expected to be released next year. Additionally, the company has an event focused on its robotaxi initiative scheduled for August.
