Warren Buffett Refuses to Endorse Investment Products or Political Candidates

Due to the widespread use of social media platforms, there has been an increase in misleading claims about Mr. Buffett endorsing various investment products and political figures,” the statement highlighted. “Mr. Buffett has not, nor will he in the future, endorse any investment products or political candidates.”

Berkshire Hathaway did not respond immediately to inquiries made on Wednesday, including questions about which specific false endorsements led to the release of this statement, which bore no date.

He shared with CNBC that the announcement was partly triggered by a fictitious political endorsement on the Instagram platform of Meta Platforms (META.O).

“I don’t even know how to use Instagram,” Buffett admitted to the network. “Anything that features my image or voice is definitely not from me.”

A known Democrat, Buffett has previously supported former Democratic President Barack Obama and the former Democratic presidential nominee, Hillary Clinton.

Investors often attempt to follow Berkshire Hathaway’s lead whenever the conglomerate based in Omaha, Nebraska, discloses new investments. Buffett avoids cryptocurrencies and advocates that most investors would benefit more from investing in stock index funds.

Buffett, who is 94 years old, has been at the helm of Berkshire since 1965. As of Tuesday, shareholders who have held onto their shares since then have experienced an overall gain exceeding 5,500,000%.