Billionaire investor Warren Buffett, long known for his influence in both the political and financial arenas, has officially declared that he will not endorse political candidates or investment products in the future. In a recent statement posted to Berkshire Hathaway’s website, the 94-year-old “Oracle of Omaha” clarified his position following a wave of misinformation circulating on social media.

“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,” read the statement from Buffett’s office. “Mr. Buffett does not currently and will not prospectively endorse investment products or endorse and support political candidates.”Subscribe

The announcement seeks to quash any speculation about Buffett throwing his weight behind candidates, particularly as the 2024 U.S. presidential election approaches. Rumors had swirled that Buffett, a Democrat and vocal critic of former President Donald Trump, might publicly support Vice President Kamala Harris in her potential race against Trump. However, the statement firmly shuts down such claims.

Buffett has previously voiced political opinions, most notably endorsing Hillary Clinton over Trump in the 2016 presidential race. He also supported former President Barack Obama during his campaigns. Despite his past political involvement, Buffett chose to remain on the sidelines in the 2020 election and, by this latest statement, makes it clear that he will do the same in 2024.

Beyond politics, Buffett’s financial acumen has made him a revered figure in global markets. As the chairman and CEO of Berkshire Hathaway since 1965, Buffett has steered the conglomerate through decades of unparalleled success, with its stock surging more than 5,600,000% under his leadership. This has resulted in an annualized return of about 20%, far outpacing the S&P 500’s annualized gains, including dividends.

Berkshire Hathaway’s empire spans multiple industries, from energy and utilities to transportation, manufacturing, retail, and insurance. It also holds major stakes in several of the world’s largest companies. Today, the conglomerate boasts a market cap of roughly $1 trillion, solidifying its position as a powerhouse in both the American and global economies.

Despite his enormous influence in both politics and finance, Buffett has often remained reserved, preferring to let his investments speak for themselves. As the country prepares for the 2024 election, Buffett’s decision to avoid political endorsements will likely add an element of intrigue as candidates vie for other high-profile supporters.

While social media buzz may attempt to draw Buffett back into the political spotlight, his firm statement reflects the same disciplined and measured approach that has defined his investment career for nearly six decades. As rumors continue to swirl, one thing remains certain: Warren Buffett is staying neutral in both political endorsements and the promotion of financial products.

Berkshire Hathaway, Inc. Class B