The renowned billionaire investor and CEO of Berkshire Hathaway, Warren Buffett, has declared that he will refrain from endorsing any candidates in the upcoming 2024 presidential race. This revelation has caught many off guard, particularly considering Buffett’s past support for Democratic figures such as Hillary Clinton and Barack Obama. In an official statement released on Berkshire Hathaway’s website, the company confirmed that “Mr.
Buffett neither currently endorses nor will in the future endorse investment products or political candidates.” This announcement was made to counteract misleading claims circulating on social media regarding Buffett’s endorsements. Frequently referred to as the “Oracle of Omaha,” Buffett elucidated his intent to avoid political involvement during a CNBC interview. He expressed his worries about the proliferation of misinformation, underlining that any assertions regarding his support for a specific candidate are false.
Buffett abstains from political endorsements
“That’s the reason we posted that on the Berkshire website. No one should give credence to anyone claiming I’m advising them on investments or voting,” Buffett remarked.
The 94-year-old financier has previously shared his political opinions, including criticisms of Donald Trump’s business ethics and transparency during the 2016 election. Nevertheless, Buffett now holds the view that addressing contentious political topics could incite significant backlash, subsequently affecting his businesses, workforce, and shareholders. “It’s far easier to upset a large number of people consistently than to bring temporary happiness by taking a stand on any issue,” Buffett noted at Berkshire Hathaway’s annual shareholders’ meeting in 2022.
Despite rumors suggesting that Buffett may have had private discussions with Vice President Kamala Harris, he has firmly stated that he will not publicly support her or any other candidate in the imminent election. By opting to remain outside the political sphere, Buffett seeks to shield his company and its stakeholders from any potential fallout.
Discover how upcoming election will affect American workers.
