The legendary investor Warren Buffett, chairman and CEO of Berkshire Hathaway Inc. (BRK.A, BRK.B), has issued a stern warning about imposters on social media platforms. He expressed his concern over individuals fraudulently using his name and image to promote political candidates and investment opportunities.
Buffett, known for his straightforward and honest approach, revealed to CNBC that he had become aware of a fake political endorsement circulating on Meta Platforms’ (META) Instagram. He clarified that he does not endorse any political candidates or specific investment opportunities, adding, “I don’t even know how to get on Instagram.”
Berkshire Hathaway, recognizing the growing issue, took proactive measures by posting a statement on its corporate website, cautioning the public about scams attempting to exploit Buffett’s reputation. The statement asserts that Mr. Buffett has never endorsed, and will not in the future, any investment products or political candidates.
This warning comes amidst a heated presidential campaign season, where other prominent CEOs like Elon Musk, Bill Ackman, and Mark Cuban have openly endorsed their preferred candidates. The statement also highlights a growing concern surrounding the use of artificial intelligence (AI) to create “deep fakes” – hyperrealistic imitations of celebrities and public figures.
As AI technology advances, the ability to distinguish real images and videos from AI-generated fakes becomes increasingly challenging. Buffett expressed his anxiety about people impersonating him, emphasizing the reason behind Berkshire’s website statement. He urged everyone to be cautious and skeptical of any claims attributed to him, especially those recommending investment strategies or political endorsements.
“Nobody should believe anybody saying I’m telling them how to invest or how to vote,” Buffett stated.
The stock market reacted to these developments, with Berkshire Hathaway Common Stock (BRK.A) experiencing a slight dip of 0.4% to $689,852.75, while Berkshire Hathaway New Common Stock (BRK.B) dropped by 0.34% to $459.87.
