Billionaire investor Warren Buffett has made it clear that he will not be endorsing any candidate, including former President Donald Trump, in the 2024 presidential election.
This decision comes despite Buffett’s history of backing Democrats in three of the last four elections. In a memo posted on his website, the chairman and CEO of Berkshire Hathaway highlighted concerns over fraudulent claims circulating on social media regarding his endorsements.
Buffett, often regarded as one of the most respected investors in the world, emphasized that he does not endorse investment products or political candidates.
“Mr. Buffett does not currently and will not prospectively endorse investment products or endorse and support political candidates,” his brief statement read.
His decision to remain neutral in the upcoming election contrasts with the active support other billionaires, such as Bill Gates and Elon Musk, have shown for Vice President Kamala Harris and former President Donald Trump, respectively.
Buffett’s concerns stem from the rise of misinformation and deepfakes on social media, where AI-generated content has led to false claims involving his endorsement of products and political figures. Recent warnings from New York Attorney General Letitia James underscored how scammers are increasingly using AI-manipulated videos to deceive the public, an issue Buffett himself has faced with fake online content.
While Buffett refrains from endorsing candidates, Trump has garnered substantial backing from prominent business figures, including Musk. Many of Trump’s supporters value his policies on economic growth, deregulation, and tax reform, which are seen as beneficial to the business environment. With Buffett choosing not to enter the fray, Trump’s path forward will continue to be supported by a significant portion of America’s wealthy business community.
With input from New York Post and Fortune.
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