Tesla Investor Ross Gerber Calls Warren Buffett 'Tough As Nails Businessman' After Berkshire Hathaway Dumps Apple: 'Don't Let That Soft Mid Western Demeanor Fool You'

Author: Rounak Jain | May 06, 2024 07:28am

Prominent Tesla Inc. investor Ross Gerber recalled his story about meeting Warren Buffett after his investment conglomerate Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) pared its Apple holdings in Q1.

What Happened: Gerber shared a story about meeting Buffett during the 2008 financial crisis, admiring the legendary investor's knack for sticking to his guns when it comes to making business decisions.

Gerber recounted his experience with Buffett when he asked the Berkshire CEO if he had "any interest in bailing out AIG" during the 2008 financial crisis.

Buffett shot back with a one-word response, saying, "No."

See Also: Elon Musk Says AI Will ‘Shorten’ The Cycle Of Crises Shaping Societies And Creating New Orders: Here’s What It Means

"What I did see that night was that nice looking calm older man was really a tough as nails businessman who got there by no accident."

He emphasized the importance of "studying Buffett and Munger," suggesting it should be its business class.

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"Don't let that soft mid-western demeanor fool you. Buffett is a shark!"

What I did see that night was that nice looking calm older man was really a tough as nails businessman who got there by no accident. Don't let that soft mid western demeanor fool you. Buffett is a shark!🦈

— Ross Gerber (@GerberKawasaki) May 4, 2024

Why It Matters: Gerber’s admiration for Buffett comes at a time when Berkshire has reduced its stake in Apple Inc. (NASDAQ:AAPL) by 18% in Q1, sparking speculation about the tech giant’s future.

Tech billionaire and Tesla Inc. CEO Elon Musk also expressed surprise at the amount of cash Berkshire Hathaway had on its books, going ahead to say it's an "obvious move" for Buffett to "take a position" in his company.

Meanwhile, Apple CEO Tim Cook is bullish about the company’s AI prospects, with a $100 billion investment in research and development over the past five years.

Wedbush’s Dan Ives also predicts an “AI-driven super cycle” for Apple in the next six to nine months, with the company’s AI strategy set to be announced at the Worldwide Developers Conference in June.

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Read Next: Elon Musk Is Astonished By Warren Buffett's Berkshire Hathaway Amassing As Much Cash As Tesla CEO's Wealth: ‘Wow'

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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