On 2022-11-04, Elon Musk was the “Surprise Guest CEO” at the 29th Annual Baron Investment Conference in New York City. Baron Capital founder Ron Baron interviewed Musk on a wide variety of topics, including the rationale for his investment in Twitter and where he intends to take the company. Interestingly, Musk described Twitter as fitting into his original plans for “X Corporation”. Starting at 42:00, he describes his original plan to make X Corporation “the most valuable financial institution in the world” and how he sees Twitter as part of “executing the X game plan”.
At 52:20 Elon fields a question from an attendee who asks why an investor should pay 70 times earnings for Tesla while they can buy Mercedes-Benz for 6 times earnings and collect a 5% dividend. His answer is…intriguing.