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Billionaire Warren Buffett opted not to endorse a candidate in the 2024 presidential election in a statement shared on behalf of his company, Berkshire Hathaway, on Wednesday (October 23).
Buffett, 94, who had publicly backed Democratic candidates in three of the last four presidential elections, addressed "fraudulent claims" on social media stating otherwise.
“In light of the increased usage 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. Mr. Buffett does not currently and will not prospectively endorse investment products or endorse and support political candidates," the statement reads.
Buffett is one of the most accomplished and influential investors in American history with a net worth valued at $145 billion, currently ranking No. 6 among Forbes' 'Real-time billionaires' list. The billionaire had previously endorsed Democrats in three consecutive elections, including Hillary Clinton in 2016 and former President Barack Obama in 2012 and 2008, before opting to not endorse President Joe Biden or former President Donald Trump in the 2020 election.
Buffett's decision came one day after fellow billionaire Bill Gates pledged $50 million to a super BAC endorsing Vice President Kamala Harris' presidential campaign, according to the New York Times. Gates, who currently has an estimated net worth of $105.4 billion, is among 81 billionaires financially backing Harris, while Trump has been endorsed by 50 billionaires.