Source: 2021 Berkshire Hathaway Annual Meeting Transcript
Ajit, your question from this gentlemen, suppose the hypothetical situation arises where Warren Buffett calls you on the phone to tell you that Elon Musk has contacted him about writing an insurance policy on his proposed mission to and subsequent colonization of Mars. Specifically, he wants insurance to insure a SpaceX heavy rocket capsule, payload, and human capital. Would you underwrite any portion of a venture like that?
Ajit Jain: (03:51:16)
This is an easy one. No, thank you. I’ll pass.
Warren Buffett: (03:51:20)
Well, I would say it would depend on the premium, and I would say that I would probably have a somewhat different rate if Elon was on board or not on board. I mean, it makes a difference, I mean. If somebody is asking you to insure something, that’s called getting skin in the game.
Ajit Jain: (03:51:46)
In general, I would be very concerned about writing an insurance policy where Elon Musk is on the other side.