Charlie Munger of Berkshire Hathaway calls Tesla “minor miracle”; Praises Elon Musk

According to Charlie Munger, vice Chairman of Berkshire Hathaway, Tesla Motors owned by multi-billionaire Elon Musk was a minor miracle in the automobile sector. Charlie Munger made the statement while talking with CNBC.

Charlie Munger who is considered as the right-hand man of veteran investor Warren Buffett had earlier said that EV Manufacturer Tesla will fail due to multiple reasons. But during the talk with CNBC, Munger said he doesn’t recall saying anything like that about Tesla or Elon Musk.

He then went on to praise the electronic vehicle maker by saying that Telsa Motors has significantly contributed to the growth of civilization.

“We haven’t had a successful new auto company in a long, long time,” Munger said,” admitting that he was surprised by its success.

He personally praised Elon Musk, saying he “has done some good things that others couldn’t do”.

Elon Musk is owner as chief executive officer of Tesla Motors
Elon Musk is owner as chief executive officer of Tesla Motors

Statements of Charlie Munger come at a time when Elon Musk, the new chief executive officer of Twitter is under fire from all quarters. Soon after taking over ownership of Twitter, Elon Musk decided to fire the CEO, CFO, and chief Legal Officer of the social networking giant.

After assuming the post of CEO, Musk began taking decisions that are termed “erratic” by various users.

The new chief of Twitter decided to make the “blue tick” verification feature available to everyone in a subscription mode which will cost 8 dollars per month. The new update in the verification feature was later backtracked due to implementation issues.

Regarding content and moderation, Elon Musk decided to set up a content moderation committee that will have individuals from all sorts of ideologies. Controversial or sensitive content posted by influential users on Twitter will be scrutinized by this content moderation committee.

Twitter under Elon Musk decided to lay off more than half of the entire workforce a few days ago as the company is trying to cut costs and reduce expenses.

Advertisement revenues have also gone down since Elon Musk took over Twitter as various multinational companies which used to advertise on Twitter are afraid that the platform will be more radicalized in the future.

Musk is also scheduled to testify at a trial concerning his $50-billion pay package as Tesla CEO, news agency AFP reported.

The case rests on a shareholder’s complaint alleging that Musk and Tesla’s board of directors failed in their duties when they approved the pay package, amounting to about $51 billion at recent share prices.