Warren Buffett: “I don’t endorse any political candidate or investment product”

Warren Buffett is concerned about an increase in impersonators who want to profit from his brand by posing as him and endorsing a political candidate or investment product on social media.

Berkshire Hathaway took the unusual step of placing a statement about the issue on its website’s home page.

The statement says: “With the rise in social media use, there have been many false allegations that Mr. Buffett supports and endorses political candidates in addition to investment goods. Mr. Buffett does not now sponsor political candidates or endorse investment products, and he never will.”

Additionally, there is a wider worry about so-called deepfakes, which utilize artificial intelligence to pose as well-known individuals for profit or other purposes. As technology advances, the images or videos get more and more realistic. Given that Buffett notably avoids bitcoin and often advises ordinary investors to purchase inexpensive index funds, anyone familiar with the investment legend’s opinions would be skeptical of any endorsement by him of a cryptocurrency or investing product

“We put that on the Berkshire website because I’m concerned about people impersonating me,” the company’s chairman and CEO explained to CNBC’sKamala Harris. If someone tells you how to vote or invest, you shouldn’t believe them.

Buffett’s remarks coincide with a contentious political season in which prominent figures from Silicon Valley and Wall Street, including Elon Musk, Bill Ackman, and Mark Cuban, are divided over the impasse between former President Donald Trump and Vice President Kamala Harris. Bill Gates is privately endorsing Harris by giving $50 million to a group that supports her campaign