Jonah Patel
Warren Buffett is an American philanthropist and one of the most influential and accomplished investors in American history. In 2024, Buffett made headlines when he opted not to endorse any candidate in the US presidential election, despite having publicly backed Democratic candidates in three of the last four presidential elections. While Buffett has donated to political campaigns in the past, including to the Democratic Congressional Campaign Committee and various Democratic senators' campaigns, he has stated that he will not endorse or support any political candidates in the future.
| Characteristics | Values |
|---|---|
| Warren Buffett's donation to Biden's presidential campaign | No donation |
| Warren Buffett's endorsement of Biden | No endorsement |
| Warren Buffett's donation to the 2024 US presidential election candidates | No donation |
| Warren Buffett's endorsement of the 2024 US presidential election candidates | No endorsement |
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What You'll Learn
Warren Buffett's 2024 election endorsement
Warren Buffett, the billionaire philanthropist and CEO of Berkshire Hathaway, has historically been a supporter of the Democratic Party in the US, endorsing Barack Obama and Hillary Clinton in previous elections. However, in the 2024 election, Buffett has chosen not to endorse any candidate.
In a statement released on his Berkshire Hathaway company website, Buffett addressed numerous fraudulent claims regarding his endorsement of certain "'investment products'" and support for "political candidates." The statement read:
> "Mr. Buffett does not currently and will not prospectively endorse investment products or endorse and support political candidates."
This announcement followed a series of impersonation attempts on social media, which Buffett called "highly concerning." In an interview with CNBC, he expressed his fears about being impersonated and stated that he did not want people to believe that he was telling them how to invest or how to vote.
Buffett's decision to refrain from endorsing a candidate in the 2024 election is in line with other American billionaires like Mark Zuckerberg and Jeff Bezos. However, it contrasts with figures like Elon Musk, who has actively supported Donald Trump, and Bill Gates, who has donated $50 million to the Kamala Harris campaign without declaring an official endorsement.
Despite Buffett's history of vocal support for Democratic candidates, his decision to remain neutral in the 2024 election highlights his cautious and thoughtful approach to political endorsements.
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Buffett's donations to Democratic candidates
Warren Buffett, the billionaire philanthropist, has historically backed Democratic candidates, including Barack Obama and Hillary Clinton. However, in the 2024 election cycle, Buffett refrained from endorsing any political candidates. Instead, he released a statement on the Berkshire Hathaway website, addressing "numerous fraudulent claims" regarding his endorsement of certain "investment products" and political candidates.
In the same year, Buffett offered advice to then-President Donald Trump, urging the government to be responsible with its finances and to take care of those "who, for no fault of their own, get the short straws in life." This message reinforced some of the Democratic ideals that Buffett has long supported.
While Buffett has not publicly disclosed his donations to Democratic candidates, his support for the party and its ideals is evident through his statements and actions.
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Buffett's stance on the Keystone XL pipeline
Warren Buffett has generally supported the Keystone XL pipeline project for years. In a CNBC interview in 2015, he stated that the pipeline would be good for both Canada and America, saying, "Canada's been a terrific partner for us over the decades, and it is wrong for us to thumb our nose at them." He also mentioned in the same interview that pipelines are generally the best way to transport fluid materials such as oil to be processed into fuels.
Buffett's company, Berkshire Hathaway, owns BNSF Railway, a freight railroad network that transports crude oil. Analysts have suggested that the Keystone XL pipeline would take business away from BNSF. However, Buffett voiced his support for the project in a CNBC television appearance in 2014, stating, "It's not that big of a competitor. [...] I think probably the Keystone pipeline is a good idea for the country."
Despite Buffett's public support for the Keystone XL pipeline, there were claims that he donated $58 million to Joe Biden's 2020 presidential campaign, and that Biden cancelled the pipeline project as a favour to Buffett. These claims were refuted by Buffett's assistant, Debbie Bosanek, who stated that Buffett did not donate to Biden's campaign and that he had no stance on how the pipeline would impact his business.
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Buffett's net worth
Warren Buffett is one of the most successful investors of all time, known as the "Oracle of Omaha". He runs Berkshire Hathaway, which owns dozens of companies, including Geico, Duracell, and Dairy Queen. In 2008, he was ranked by Forbes as the richest person in the world, with an estimated net worth of around $62 billion. Yahoo estimated his net worth to be $58 billion in the same year.
Buffett has a history of donating to charitable causes and has given away most of his fortune to charity. In 2006, he announced that he would give away 83% of his wealth to the Bill & Melinda Gates Foundation (BMGF). This amounted to approximately $30.7 billion, making it the largest charitable donation in history. He also joined the Gates Foundation's board. As of 2025, he has given away about $62 billion, mostly through the Gates Foundation and his children's foundations.
Buffett has also pledged to donate over 99% of his wealth and has asked other billionaires to commit to donating at least half of their fortune to charitable causes through the Giving Pledge, which he launched with Bill Gates in 2010. In 2012, he was diagnosed with stage I prostate cancer and underwent radiation treatment. Despite his health scare, he continued to grow his wealth, with Berkshire Hathaway making $6.4 billion in net profit in Q2 2014, the most in a three-month period at the time. By August 2014, the price of Berkshire Hathaway's shares hit $200,000 a share, capitalizing the company at $328 billion.
As of 2024, Buffett's net worth is estimated to be in the trillions. His cash hoard alone is valued at over $334 billion. In a 2024 letter to Berkshire Hathaway shareholders, he mentioned the company's massive cash hoard. In a June 2024 news release, Buffett stated that Berkshire Hathaway represents "roughly 99-and-a-half percent" of his net worth. While he has not endorsed or donated to any political campaigns, he has previously backed Democrats Barack Obama and Hillary Clinton.
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Buffett's influence on American politics
Warren Buffett is one of the most influential investors in American history, with a net worth of $145 billion. However, the billionaire has mostly remained neutral regarding politics over the years.
Buffett has previously donated to Democratic candidates and causes. In 2019, he gave $248,500 to the Democratic Congressional Campaign Committee, which supports Democratic House candidates, and $5,800 to Democratic Arizona Senator Mark Kelly's campaign. In 2018, he gave $33,900 to the Democratic Congressional Campaign Committee, $33,900 to the Democratic Senate Campaign Committee, and $2,700 each to the campaigns of Democrats Donna Shalala and Rufus Gifford.
In the 2024 election cycle, Buffett chose not to endorse any candidate, despite rumours circulating on social media that he would back Kamala Harris. In a statement released on his company website, Berkshire Hathaway, Buffett said:
> "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. Mr. Buffett does not currently and will not prospectively endorse investment products or endorse and support political candidates."
Buffett's decision to refrain from endorsing any candidate in the 2024 election followed a series of impersonation attempts online, which he called "highly concerning". He also stated that he was worried about people impersonating him, and that was why the statement was put on the Berkshire Hathaway website.
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Frequently asked questions
No, Warren Buffett did not donate to Joe Biden's presidential campaign.
No, Warren Buffett did not endorse Joe Biden. However, he and his wife voted for him.
No, Warren Buffett did not make any individual contributions in 2020.
Yes, Warren Buffett donated $248,500 to the Democratic Congressional Campaign Committee and $5,800 to Democratic Arizona Senator Mark Kelly's campaign.
No, Warren Buffett did not endorse any political candidates in the 2024 election.
