The 94-year-old CEO of Berkshire Hathaway – who is worth an estimated $146.3 billion – has recently backed Democratic candidates.
But a memo from the ‘Sage of Omaha’s’ firm released Wednesday said he wouldn’t be taking a stance in the election and any other suggestion would be ‘fraudulent’.
The statement also warned that Artificial Intelligence may be used to portray his likeness after a fake endorsement appeared on Instagram.
The message also saying Buffett won’t endorse investment products appears to be a move stopping either campaign trying to capitalize on his reputation.
Buffett’s decision not to take a stance comes less than 24 hours after it was revealed that JPMorgan CEO Jamie Dimon – one of the world’s most powerful bankers – and Bill Gates have poured millions into backing Harris.