Elon Musk Is Astonished By Warren Buffett's Berkshire Hathaway Amassing As Much Cash As Tesla CEO's Wealth: 'Wow'
Portfolio Pulse from Rounak Jain
Elon Musk expressed astonishment at Berkshire Hathaway's cash reserves reaching $189 billion, equivalent to Musk's own wealth. Berkshire Hathaway, led by Warren Buffett, increased its cash pile to a record level after selling $20 billion in stocks and purchasing $2.7 billion worth during Q1 2024. Musk, comparing the cash reserve to his wealth of $192 billion, suggested Buffett should invest in Tesla, which has seen a 25% stock rally post-Q1 2024 earnings but is still down 27% for the year. Berkshire Hathaway also reduced its Apple Inc. holdings significantly during the same period.
May 06, 2024 | 9:04 am
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POSITIVE IMPACT
Tesla's stock rallied 25% post-Q1 2024 earnings but remains down 27% for the year. Musk's call for Buffett to invest could influence investor sentiment.
Musk's suggestion for Buffett to invest in Tesla, combined with the recent 25% rally, could positively impact investor sentiment and Tesla's stock price in the short term, despite the year's overall negative performance.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Berkshire Hathaway's cash reserves hit a record $189 billion after Q1 2024, with significant stock sales and purchases. Musk's astonishment and investment suggestion could spotlight Berkshire's investment strategies.
While the news highlights Berkshire Hathaway's significant cash reserves and investment moves, Musk's comments are unlikely to directly impact Berkshire's stock price in the short term but could increase interest in its investment strategies.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80