Warren Buffett may not be the ‘benevolent grandfather’ character he introduces to the public, says Elon Musk

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  • Warren Buffett has cultivated a public figure who may not correspond to reality, Tesla CEO Elon Musk told The New York Times.
  • Billionaire investor and CEO of Berkshire Hathaway “has managed to create a beautiful image for himself as a caring grandfather, which maybe exaggerates the case,” Musk said.
  • Musk said earlier this year that he was not “Buffett’s biggest fan” and that the Berkshire boss had “a boring job.”
  • Buffett is less divisive than other famous billionaires, perhaps because of his simpler lifestyle, philanthropic efforts, and largely scandal-free career.
  • Visit the Business Insider homepage for more stories.

While Warren Buffett paints himself as a benevolent elder, he may not fully deserve his glowing reputation, Tesla CEO Elon Musk told The New York Times in an interview published on Saturday.

“He was able to create a beautiful image of a caring grandfather for himself, which maybe exaggerates the case,” Musk said when asked if he thought the famous Berkshire Hathaway investor and CEO was ” overdone ”.

Read more: Warren Buffett’s Apple Bet Ranks Among ‘Best Investments Ever,’ Says Berkshire Hathaway Shareholder Bill Brewster

Buffett, 89, ranks among the richest and most powerful people in the world, but he’s far less polarizing than Facebook CEO Mark Zuckerberg, Amazon CEO Jeff Bezos, or even Musk.

The Berkshire chef’s surprisingly straightforward lifestyle, love for sodas and candy, long largely scandal-free career, and immense philanthropic efforts have garnered him legions of fans and positive media coverage.

He is also known to educate and entertain the investment community with his annual letters and organize an annual meeting in Omaha that attracts tens of thousands of enthusiastic shareholders.

However, Buffett is also a ruthless businessman. For example, he lent money to distressed companies such as Goldman Sachs, General Electric and Harley-Davidson during the financial crisis “at interest rates which in some cases bordered on usury,” Alice wrote. Schroeder in “The Snowball: Warren Buffett and the Business of Life.” ”

Read more: Warren Buffett jettisoned the “Big 4” airlines in April. Their second quarter results show what he was worried about.

Musk has criticized Buffett before. The Tesla chief said on Joe Rogan’s podcast in May that he was not “the biggest fan” and that allocating capital between the various companies in Berkshire was “kind of boring work.”

The CTO, who briefly topped Buffett on Bloomberg’s Billionaires Index this month, also dismissed Buffett’s idea of ​​an economic moat in May 2018 as “lame.” Buffett replied, “I don’t think he would want to take us with candy. ”

However, Musk has also quoted Buffett in the past, suggesting that there is still a chance that he could follow “Big Short” author Michael Lewis and change his mind about Buffett.

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