'An Obvious Move': Elon Musk Suggests Warren Buffett Should Make This Investment Move Next

Days aft Warren Buffett hosted Berkshire Hathaway's yearly shareholders meeting, chap billionaire Elon Musk has immoderate proposal for nan president astir what investing moves he should make next.

In consequence to a station connected X saying Buffett should waste each of his shares successful Apple, Musk suggested that Buffett see buying shares of his electrical conveyance institution Tesla.

He should return a position successful Tesla. It's an evident move.

— Elon Musk (@elonmusk) May 6, 2024

"He should return a position successful Tesla," Musk wrote. "It's an evident move."

Buffett and Berkshire person had a liking successful Apple since 2016.

Related: 'I'm Smarter Now...But Also Poorer': Warren Buffett Says Berkshire Hathaway Ditched Its Entire Stake successful Paramount astatine a Big Loss

At nan extremity of Q3 2023, it was estimated that Berkshire owned astir $174.3 cardinal successful Apple shares, which dropped astir $135.4 cardinal by nan extremity of Q1 2024. According to calculations by Reuters, Berkshire offloaded an estimated 115 cardinal Apple shares, aliases 13% of its full holdings.

"Unless thing melodramatic happens that really changes superior allocation, we will person Apple arsenic our largest investment," Buffett said during Saturday's shareholders meeting.

During Saturday's shareholder meeting, Buffett revealed that Berkshire had offloaded its entire liking successful Paramount Group. Berkshire erstwhile held nan mostly of nonvoting shares.

An finance from Buffett could beryllium a bully look for Tesla, which has been struggling successful caller months amid attempts to cut costs and redirect attraction connected a newer, much affordable car exemplary slated to statesman accumulation successful 2025.

Related: Warren Buffett's Successor Says Berkshire Hathaway's Culture Will Stay nan Same

The institution reported a 9% quarterly gross alteration during its Q1 2024 net telephone past month, its biggest driblet since 2012, conscionable days earlier Musk reportedly laid off 500 labor from nan Tesla Supercharger squad successful nan mediate of nan nighttime and rescinded internship offers for students conscionable weeks earlier they were group to begin.

Musk and Buffett person disagreed successful nan past, but during Berkshire Hathaway's 2023 yearly shareholder meeting, he praised Tesla's CEO.

"Elon is simply a superb guy. He dreams astir things and his dreams person sewage a foundation," Buffett said last year. "I conscionable for illustration nan measurement I'm living, and I wouldn't bask being successful his shoes but he wouldn't bask being successful my shoes either."

Musk promptly thanked Buffett and his precocious business partner, Charlie Munger, for their "kind words" connected X pursuing nan meeting.

Tesla was up complete 4.3% twelvemonth complete twelvemonth arsenic of Tuesday morning.

Related: Read Warren Buffett's Annual Letter to Berkshire Shareholders