Listen Now: Battle of the Big Shots
There’s a challenge brewing between two of the world’s richest men. And your sweet tooth could be the deciding vote.
Recently an online war of words erupted between tesla CEO Elon Musk and Berkshire Hathaway CEO Warren Buffett. It all started when Musk criticized Buffet for his use of moats.
A moat is a term used when a company has such a widely recognized brand it is almost impossible for rivals to compete. Examples include Google, Apple and Amazon. The comments came after Buffet, who likes to invest in companies with a wide moat, bought Monroe Apple Stock. Firing back Buffett wrote, “I don’t think he’d want to take us on in candy.”
Berkshire Hathaway has owned See’s Candies since 1972. Now it looks like Musk is accepting the challenge, tweeting he was going to start a candy company that would be amazing.
The new business venture might not be a bad idea. Reports have surfaced that Tesla is burning through cash and might need more funding. And while not everyone wants an electric car, who’s going to say no to chocolate?
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
Popular Reports, Articles & Videos
Latest CBS Radio Reports