Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
05/23/2025
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The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
February 17, 2023: -On Wednesday, Charlie Munger said that Tesla bleaches compared to BYD in China, known as the Chinese electric vehicle maker his favourite stock.
“I have never helped do a lot at Berkshire that was good by BYD, and I did it once,” the investor stated at the Daily Journal’s virtual annual meeting on Wednesday. Berkshire’s initial investment is now “worth about $8 billion or maybe. That’s a pretty good rate of return,” state Munger, Warren Buffett’s longtime investment partner.
BYD is a lucrative bet for Berkshire, which bought 220 million shares in September 2008. The stock has increased over 600% in the past ten years amid the massive growth in electric vehicles. Berkshire has been trimming its BYD stake in the previous year as the stock has become surging pricey.
“At the present price of BYD stock, little BYD is worth over the entire Mercedes company. It’s a high-end stock, but on the other hand, it’s a great company,” Munger stated.
Munger, Berkshire’s vice chairman and an Everyday Journal board member, is credited to Li Lu, founder of Seattle-based acquisition manager Himalaya Capital, to know him to BYD. Munger stated that BYD CEO Wang Chuanfu is unusual, which calls him a genius and a workaholic.
Munger said the answer is easy if he opts for Tesla or BYD as an investment.
“Tesla last year decreased its prices in China twice. BYD increased its prices. We are direct competitors. BYD is ahead of Tesla in China, and it’s almost ridiculous,” Munger stated.
BYD stated that it anticipates record adjusted annual profit for 2022 of 16.3 billion yuan, regarding 1,200% above 2021.
“BYD last year made over $2 billion after taxes in the auto business in China. It’s incredible what’s happened,” Munger stated. “If you count all the manufacturing places they have in China to create cars, it will amount to a huge percentage of Manhattan island, and nobody had ever heard of them some years ago.”
The longtime investor is known as Tesla CEO Elon Musk, talented and “peculiar.” He stated what Musk achieved in the car business was a “minor miracle.”
“I don’t buy him, and I don’t shoot him,” Munger said Wednesday.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
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