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Watch: Jim Cramer on Billionaires, Chewy, Tesla, and Meme vs. Momentum

Jim Cramer and Katherine Ross discuss billionaires paying taxes, Chewy's earnings, Tesla's  Model S Plaid event, and meme stocks versus momentum stocks.

Jim Cramer discussed billionaires paying taxes, Chewy's earnings, Tesla's Model S Plaid event, and meme stocks versus momentum stocks. 

Watch the full interview with Katherine Ross at 11:30 a.m. ET: 

Chewy's Earnings

"For his second "Executive Decision" segment, Cramer also spoke with Sumit Singh, CEO of Chewy (CHWY) - Get Report, the online pet emporium that's seen its shares fall 12% as investors flock to the economic reopening stocks instead," wrote TheStreet's Scott Rutt in his Mad Money recap. "Singh said the increase in pet adoption is not just a pandemic event. Chewy works with over 6,000 pet shelters across the nation that report adoptions are still growing by double digits."

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"When asked about their continued success, Singh noted that 69% of Chewy's volume stems from their auto-ship subscription programs, which delivers supplies without customers even having to think about it. The company is also working hard to reduce the barriers to attaining quality pet health visits and medications to ensure that all pets lead long, healthy lives," wrote Singh. "Chewy has also built a culture that supports a great customer experience, Singh added. Items like surprise birthday cards not only delights their customers, it also builds trust, he said. That's why they make an effort to give back to their communities wherever they can."

Tesla's Model S Plaid 

Tesla CEO Elon Musk delivered the first Model S Plaid, a high-end, ultra-speedy version of its sports sedan, in a live-streamed event Thursday, driving the car flat-out along the company's test track and onto the event stage for his presentation.

Tesla made the Plaid "to show, hands down," an electric car can be the best, the fastest, safest and sustainable, Musk said.

 Hear what Jim Cramer is only telling members of his Action Alerts PLUS investing club in Friday's Daily Rundown.