Berkshire Hathaway, Inc.s BRKA BRKB fourth-quarter earnings report released on Saturday showed that the investment-holding companys cash position at the end of the year increased from the September level.
What Happened: Tesla TSLA CEO Elon Musk offered an opinion for investing the cash reserves of theWarren Buffett-led company.He was responding to a traders tweet soliciting opinions regarding the stocks Berkshire can buy with the $128 billion+ cash it holds.
Starts with a T, the billionaire replied, apparently referring to his flagship electric vehicle venture Tesla.
Starts with a T Elon Musk (@elonmusk) February 26, 2023
Musk followed it up with a tweet in which he said Charlie Munger had the choice to invest in Tesla way back at a valuation of around $200 million when both had lunch together almost 15 years ago. Munger is Buffetts trusted lieutenant and second-in-command at Berkshire in his capacity as Vice Chairman.
This is not the first time Musk is recounting the incident that transpired between him and Munger. In reply to a tweet in February2022, the Tesla CEO said he had lunch with Munger in 2009, when the latter discussed all the ways Tesla would fail. While agreeing with Munger on Tesla potentially failing, Musk apparently said it was worth trying anyway.
See also: Everything You Need To Know About Tesla Stock
Why Its Important: Musks rendezvous with Munger, going by the timeline the former mentioned, apparently took place ahead of Teslas IPO on June 29, 2010. Since then, Tesla has grown in rank and is currently a mega-cap company with a market capitalization of roughly $623 billion. Tesla bull Cathie Wood expects the stock to hit $500 by 2026, up from the current $196.88, considering only the EV part of the Tesla story. If the autonomous ride-hailing opportunity is also accounted for, the stock could hit north of $1,500, she said.
Meanwhile, Buffett said in his annual letter to shareholders that Berkshire will hold a boatload of cash and U.S. Treasury bills, along with a wide array of businesses, in the future. He also suggested that the company will not indulge in any activity that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses.
Buffetts philosophy has always been making value buys and holding those investments for the long term. While Berkshire per se does not pay out dividends, a significant portion of its investment holdings pays dividends. So, it remains to be seen if Tesla would make the cut for a Buffett investment.
Read next:Warren Buffett Says In 58 Years Of Managing Berkshire His Decisions 'No Better Than So-So': Here's His 'Secret Sauce'
Coach tickets to Glastonbury 2025 were sold out in half an hour, organisers have said, as they roll out a new booking system for festivalgoers.
They were the first group of tickets to be sold for the world-famous festival in Somerset, which is set to take place between 25 and 29 June.
This year, fans navigated a new system to buy the tickets as they were “randomly assigned a place in a queue” instead of having to refresh the holding page once they went live.
The organisers said in a post on X: “The Glastonbury 2025 tickets + coach travel which were on sale this evening have now all been sold.
“Our thanks to everyone who bought one.”
They added that National Express services would be available to bring festivalgoers from across the country to Glastonbury.
Standard tickets will go on sale on Sunday at 9am. Last year they were sold out within an hour.
See Tickets said in a post on X that “confirmation emails are going out now to everyone who got @Glastonbury coach tickets this evening”.
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Tickets for the annual event at Worthy Farm in Somerset cost £373.50 plus a £5 booking fee, and are sold exclusively through the See Tickets website, with no third-party sellers involved.
The new ticket system has changed the way people join the booking system.
Organisers previously warnedhopefuls to log in “at least a few minutes” before the sale opened today and to avoid refreshing the page.
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Festivalgoers were also told not to attempt to game the system by using multiple devices.
The sale follows chaos earlier this year when tickets for the Oasis reunion went on sale, seeing a multitude of disappointed fans as well as those who felt cheated after being charged hundreds of pounds more for their tickets than was originally advertised.
Anyone wishing to buy tickets for Glastonbury must have registered by 11 November, a rule in place to avoid touting.
Donald Trump has chosen vaccine sceptic Robert F Kennedy Jr as his new health secretary.
The news was announced by Donald Trump Jr on X, before the president-elect confirmed the appointment just moments later.
Former Democrat RFK Jr, the nephew of former president John F Kennedy, had been running as an independent presidential candidate but dropped out of the race and endorsed Mr Trump in August.
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From August: Kennedy family criticises RFK Jr after Trump endorsement
In return for Mr Kennedy’s support during the election, President-elect Trump pledged to give him a “big role” – and RFK Jr’s preference for the health position was widely reported.
The health and human services (HHS) department includes the Food and Drug Administration, the Centers for Disease Control and Prevention, Medicare, Medicaid and the National Institutes of Health.
RFK Jr will “restore these Agencies to the traditions of Gold Standard Scientific Research, and beacons of Transparency, to end the Chronic Disease epidemic, and to Make America Great and Healthy Again,” the president-elect wrote on X.
Mr Trump added: “For too long, Americans have been crushed by the industrial food complex and drug companies who have engaged in deception, misinformation, and disinformation when it comes to Public Health.
“The Safety and Health of all Americans is the most important role of any Administration.”
Mr Kennedy is a known vaccine sceptic who has repeated misinformation on multiple occasions, including the discredited theory that childhood immunisations cause autism.
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The RFK Jr-led health department will “play a big role in helping ensure that everybody will be protected from harmful chemicals, pollutants, pesticides, pharmaceutical products, and food additives that have contributed to the overwhelming Health Crisis in this Country,” the president-elect added.
Earlier, his son Donald Trump Jr was the first to confirm the appointment, writing on X: “Robert F Kennedy Jr will be The Secretary of Health and Human Services! Promises Made Promises Kept.”
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When Trump met Obama and Biden
RFK Jr’s position will need to be confirmed with a Senate vote – but even with the chamber under Republican control, his appointment may face opposition because of his views on health issues.
Before Mr Trump announced his choice, Mr Kennedy had already claimed the new president would push to remove fluoride from drinking water on his first day in office. The addition of the compound has been cited as helping to improve dental health.
The department RKF Jr is hoping to oversee has more than 80,000 employees across the United States.
National Grid Renewables has broken ground on its 100 MW Apple River Solar Project in Polk County, Wisconsin.
The Wisconsin solar farm, which will use US-made First Solar Series 6 Plus bifacial modules, will be constructed by The Boldt Company, creating 150 construction and service jobs. Apple River Solar will generate over $36 million in direct economic benefits over its first 20 years.
Once it comes online in late 2025, Apple River Solar will supply clean energy to Xcel Energy, which serves customers throughout the Upper Midwest. According to National Grid Renewables, the solar farm will generate enough energy to power around 26,000 homes annually. It will also offset about 129,900 metric tons of carbon dioxide emissions each year – equivalent to taking 30,900 cars off the road.
“We are excited to see this project begin as it underscores our dedication to delivering clean, reliable and affordable energy to our customers,” said Karl Hoesly, President, Xcel Energy-Wisconsin and Michigan. “This project is an important step in those goals while bringing significant economic benefits to Polk County and the local townships.”
Electrekreported in February that Xcel Energy, Minnesota’s largest utility, expects to cut more than 80% – and possibly up to 88% – of its emissions by 2030, putting it on track to hit Minnesota’s goal of net zero by 2040. It also says it’s on track to achieve its clean energy goals for all the Upper Midwest states it serves – Minnesota, Wisconsin, North Dakota, South Dakota, and Michigan.
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