Warren Buffett will not endorse investment products or political candidates, according to a statement posted on the Berkshire Hathaway conglomerate’s website, in an apparent effort to ward off people who try to profit from his reputation.
“In light of the increased use of social media, there have been numerous fraudulent claims regarding Mr. Buffett’s endorsement of investment products, as well as his endorsement and support of political candidates,” the statement said. “Mr. Buffett does not currently and will not in the future endorse investment products nor will he endorse or support political candidates.”
Berkshire did not immediately respond to a request for comment Wednesday, including a question about what false endorsements prompted the statement, which is undated.
He told CNBC that the statement was the result in part of a false political endorsement on Meta’s Instagram social media platform.
“I don’t even know how to get on Instagram,” Buffett told the network. “Everything you see with my image or my voice, it’s just not me.”
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Despite having supported Democrats, Buffett has not supported any current candidates
Buffett, a Democrat, has supported former Democratic President Barack Obama and former Democratic presidential candidate Hillary Clinton.
Investors often try to take advantage of Berkshire when the Omaha, Nebraska-based conglomerate announces new investments. Buffett rejects cryptocurrencies and has said that many investors are better off owning stock index funds.
Buffett, 94, has led Berkshire since 1965. Through Tuesday, investors who have owned shares since then have seen a total gain of more than 5,500,000%.
With information from Reuters
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