Charlie Munger watched Elon Musk build Tesla from a company he expected to fail into what he called a "minor miracle," and he still refused to own a single share.
Munger's doubts went back to Tesla's earliest days. Musk later recalled a lunch where Munger laid out, for the whole table, every reason Tesla would fail. Musk said he agreed with all of them and expected the company would probably die, but thought it was worth trying anyway. By November 2022, Munger was telling CNBC's Becky Quick that there hadn't been a successful new auto company in a long, long time and that what Tesla had done in the car business was a minor miracle.
Respect never turned into a position. At the Daily Journal annual meeting in February 2023, Munger described Musk as very talented but peculiar and said, "I don't buy him and I don't sell him short." In his final CNBC interview, taped with Becky Quick in Los Angeles on November 14, 2023, two weeks before his death at 99, he went further. Munger said he didn'...
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