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Elon Musk laughed at BYD in 2011. Warren Buffett's Berkshire Hathaway has made nearly 40 times its money on the Chinese EV stock

1 month ago   |   By Business Insider

Warren Buffett. AP Images
Elon Musk dismissed BYD as a Tesla rival in 2011, ridiculing the design and quality of its vehicles.
Warren Buffett's Berkshire Hathaway has made a nearly 40-fold gain on the Chinese automaker's stock.
Berkshire spent $232 million in 2008 for a stake valued at more than $9 billion today.
Elon Musk laughed out loud at BYD in 2011, three years after Warren Buffett's Berkshire Hathaway invested in the Chinese electric-vehicle company. Buffett may be the one chuckling now: Berkshire has notched an almost 40-fold gain on its wager so far. "Have you seen their car?...
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