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Billionaire investor Warren Buffett has a piece of advice for Tesla CEO Elon Musk: stop tweeting.
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“He’s a remarkable guy,” Buffett said during an interview with Yahoo Finance that aired Friday. “I just don’t see the necessity to communicate [on social media].”
Buffett, the CEO and chair of the conglomerate Berkshire Hathaway, advised Musk to be more selective in the thoughts he shares online.
“I think he has room for improvement,” Buffett said. “And he would say the same thing.” In the past, Musk’s tweets — such as how he planned to take Tesla private at $420 per share — have gotten him in trouble with federal regulators, resulting in a $20 million fine.
More recently, Musk came under fire by the U.S. Securities and Exchange Commission for tweeting about Tesla’s 2019 production targets. The SEC alleged that Musk had violated a previous settlement that required his tweets about Tesla to be approved by the company before he posted them online.
It’s not the first time that Buffett, who barely has an online presence, has offered advice to Musk.
In August, when Musk was under investigation by the SEC for his privatization tweet, Buffett urged the eccentric billionaire to correct himself immediately if he misspoke.
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“If you’ve got a stock that’s trading like crazy, you come on three minutes later and say, ‘I misspoke when I said funding secured. I really meant to say I think I can get funding,’” Buffett said during an interview with FOX Business’ Liz Claman.
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