Warren Buffett. Photo: Nati Harnik/AP
The famous investor and chairman of Berkshire Hathaway, Warren Buffett, has expressed concern over the growing number of cases where fraudsters use his name to promote investment products or political candidates on social media. This is reported by CNBC.
In view of the growing problem, Berkshire Hathaway has even taken the rare step of posting an official statement on its home page: “Mr Buffett does not and will not endorse investment products or political candidates at this time.” Buffett stressed that these reports were fraudulent and had nothing to do with his personal position.
During an interview with Becky Quick on CNBC, Buffett warned the public: “No one should believe anyone who says I’m telling them how to invest or how to vote.” The billionaire’s latest statements coincided with a tense political season in the US, where the presidential race between Vice President Kamala Harris and former President Donald Trump has already divided prominent business leaders.
Buffett also drew attention to the risks associated with the emergence of “deep fake” technologies that use artificial intelligence to create realistic images and videos of influential people. This new wave of fraud poses a serious threat as imitations become more and more similar to the real thing.
For many who are familiar with Buffett’s views, his endorsement of cryptocurrencies or specific investment products would sound illogical, as he has always been sceptical about bitcoin and recommends index funds for ordinary investors. However, the investor decided to further protect the public, as fraud cases involving his name had reached a critical point.
“I don’t even know how to get on Instagram,” Buffett admitted, adding that he wants everyone to understand: “Whatever I see with my image or voice, it’s just not me.”
