Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk invoked Berkshire Hathaway Inc. CEO Warren Buffett‘s investment philosophy during an all-hands meeting on Thursday night, advising employees and investors to deal with corporations with promising product futures.
What Happened: “I feel it’s Warren Buffett’s kind of metaphor—the stock market’s like having someone stand at the sting of your property or your home and yell prices to purchase or sell your home on daily basis,” Musk said. “Sometimes they take their meds and sometimes they don’t.”
“Buy stock in corporations where you’re thinking that the product that company makes can be higher in the longer term,” Musk said. “Do you like the products that company makes and are they going to maintain doing that?”
“Hang on to your stock,” Musk said, emphasizing Tesla’s long-term potential. “I feel long-term with Optimus and self-driving, Tesla will probably be the most beneficial company on the earth.”
The late-evening meeting highlighted Tesla’s achievement of manufacturing over 7 million vehicles globally. Musk projected the corporate would surpass 10 million vehicles next 12 months.
See Also: Deloitte’s fastest-growing software company partners with Amazon, Walmart & Goal – Last Probability to get 4,000 of its pre-IPO shares for just $0.26/share!
Why It Matters: Musk touted several achievements, including the Model Y becoming the world’s best-selling vehicle and Cybertruck emerging because the top-selling electric pickup. He also highlighted progress with Tesla’s Dojo supercomputer, now handling roughly 5-10% of the corporate’s AI training workload.
The connection between the 2 billionaires appears respectful but distant. Buffett recently acknowledged in a CBS News interview that he has “talked to Elon just a few times” but repeatedly dodged questions on Musk’s cost-cutting efforts with the Department of Government Efficiency (DOGE).
Despite TSLA shares dropping 37.71% year-to-date, Musk stays bullish on Tesla’s future, telling attendees: “While it’s difficult to predict how things can be from you understand in the following day six to 12 months, when you say like where will things be in three years or five years, the longer term of Tesla is incredibly brilliant.”
Read Next: