Similar Stories to Elon Musk's Tesla Blew Past Warren Buffett's Berkshire Hathaway In Market Value During The Pandemic. Now It's Less Than $100 Bil on Bing News

tmohamed@businessinsider.com (Theron Mohamed), Business Insider
Mon, 07/04/2022 - 5:42am

Warren Buffett.REUTERS/Rebecca Cook Warren Buffett's Berkshire Hathaway trails Tesla in market capitalization by less than $100 billion. Tesla blew past Berkshire in market value in November 2020, and was worth twice as much last year. Elon Musk's EV maker has been hit hard by the market downturn, while Berkshire has proven resilient. Elon Musk's Tesla, which commanded twice the market value of Warren Buffett's Berkshire Hathaway eight months ago, is now worth less than $100 billion more.Tesla shares skyrocketed more than 12-fold during the first 18 months of the pandemic, as retail investors awarded "meme stock" status to the electric-vehicle company, and wagered it would revolutionize global energy and transportation.Berkshire shares gained a comparatively modest 60% over the same period, as Buffett struggled to find bargains in a breathless bull market, and many of his businesses were hit by forced closures and travel restrictions.The upshot?

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