Likes Elon Musk Warren Buffet
Buffett Insurance for SpaceX Missions to Mars? "Cheaper if Elon Musk is there"
Both Warren Buffett and Elon Musk are among the richest people in the world, and both have long since passed the point where they would never have to work for themselves again. Both continue anyway, the now 90-year-old boss of the investment company Berkshire Hathaway probably just for fun, while Musk, as CEO of SpaceX, Tesla and more, wants to save both the world and humanity. The famous investor Buffett has not yet been able to bring himself to invest in Tesla - but unlike his division boss, he could imagine insuring Mars missions for Musk's space company SpaceX.
Shareholder asks about SpaceX insurance
Buffett said so, according to a Yahoo Finance report at the Berkshire Hathaway general meeting in Los Angeles over the weekend. The annual shareholder meeting is expected almost as eagerly as the information that Musk regularly publishes in conference calls after the publication of Tesla's quarterly figures. Because Buffett takes a lot of time for questions from investors and does not mince his words.
In addition to Buffett and his longtime (and about as old) Vice Chairman Charlie Munger, the younger top managers Ajit Jain and Greg Abel also attended the event, both of whom are traded for the successor to the top. Jain heads Berkshire's insurance business, and it was actually to him that a shareholder asked him about Tesla and SpaceX boss Musk's Mars plans.
"Cheaper with Musk on board"
The Jain shareholder wanted to know whether Bershire Hathaway would hypothetically be willing to insure SpaceX's future Mars missions, specifically the rocket, the capsule, payloads and people. He was quick to say that he would give up his thanks and would be generally very reluctant to issue a policy with Elon Musk on the other side - "Don't bet against Elon" is a popular mantra of Tesla fans that the Berkshire manager knows seems. Buffett himself allowed himself a different assessment: "I would say it would depend on the premium," he said.
Buffet even went public with the calculation: Among other things, it depends on whether Elon Musk himself is on board. In the insurance industry there is the expression “skin in the game” - it makes a difference whether someone bears part of the insured risk or not. In any case, Musk should call him, not Jain, if he needed SpaceX insurance, said the famous old investor.
Tags: Elon Musk, mars, SpaceX
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