Warren Buffett reveals he won't back any candidate in 2024 after fake Instagram post

Billionaire Warren Buffett has made it known that helium won't beryllium endorsing Kamala Harris or Donald Trump for president successful 2024.

The 94-year-old CEO of Berkshire Hathaway - who is worthy an estimated $146.3 cardinal - has precocious backed Democratic candidates.

But a memo from the 'Sage of Omaha's' steadfast released Wednesday said helium wouldn't beryllium taking a stance successful the election and immoderate different proposition would beryllium 'fraudulent'.

The connection besides warned that Artificial Intelligence whitethorn beryllium utilized to represent his likeness aft a fake endorsement appeared connected Instagram.

The connection besides saying Buffett won't endorse concern products appears to beryllium a determination stopping either run trying to capitalize connected his reputation. 

Buffett's determination not to instrumentality a stance comes little than 24 hours aft it was revealed that JPMorgan CEO Jamie Dimon - 1 of the world's astir almighty bankers - and Bill Gates have poured millions into backing Harris.

'In airy of the accrued usage of societal media, determination person been galore fraudulent claims regarding Mr. Buffett's endorsement of concern products arsenic good arsenic his endorsement and enactment of governmental candidates,' work the institution statement.

'Mr. Buffett does not presently and volition not prospectively endorse concern products oregon endorse and enactment governmental candidates,' it said.

He told CNBC the connection resulted partially from a fake governmental endorsement connected Meta Platforms' Instagram societal media platform.

'I don't adjacent cognize however to get connected Instagram,' Buffett told the network. 'Anything they spot with my representation oregon my voice, it conscionable ain't me.'

The connection didn't specify details of immoderate circumstantial manipulation of Buffett, whose holdings see apical companies Apple, Bank of America, American Express, and Coca-Cola. 

He has tally Berkshire since 1956. Investors who person owned stocks successful the institution since past person seen a 5,500 percent gain. 

That stands successful stark opposition to 2016, erstwhile helium endorsed Hillary Clinton implicit Trump, arsenic good arsenic his backing of Barack Obama during his 2008 and 2016 runs.

Buffett shared immoderate of his concerns astir AI to the Wall Street Journal. 

'It tin beryllium done perfectly now, and it tin beryllium distributed instantly,' Buffett told the paper,  'They would beryllium capable to bash it successful a mode that would person my family.'

 He was coy astir wherefore helium decided to halt endorsing. 'I'll astir apt code that question astatine the adjacent yearly meeting.'

His determination comes amid an effort to effort to retired different powerhouse CEOs who person been keeping a debased profile.

The New York Times reported that Microsoft caput Bill Gates had fixed $50 cardinal to boost Harris.

And it reported JP Morgan Chase CEO Jamie Dimon has made wide successful backstage helium supports Harris, aft making nationalist comments that near unfastened the anticipation helium mightiness endorse Trump. 

Billionaire Mark Cuban did a caller lawsuit for Harris. And Tesla and SpaceX caput Elon Musk has taken enactment to a caller level – donating astatine slightest $75 cardinal to backmost Trump, and offering a $1 cardinal prize to petition signers successful elector registration effort which precocious drew scrutiny from national regulators.

Musk has besides been personally campaigning for Trump portion talking him up connected his X platform, and jumped connected signifier with him astatine a rally successful Butler, Pennsylvania.