Social media comments linked to Warren Buffett false: Berkshire Hathaway

New Delhi, April 5 (IANS) All reports circulating on social media platforms like X, TikTok, and Facebook “regarding comments allegedly made” by Warren Buffett on the economic policies are false, said American multinational Berkshire Hathaway.

The remarks come after US President Donald Trump's account on his social media platform Truth Social shared a video suggesting Buffett, Chairman of Berkshire Hathaway, endorsed the US president's economic policies.

Trump’s post claimed that the 94-year-old billionaire lauded the President for making “the best economic moves” seen in more than 50 years in America.

While a user on Instagram originally posted the claims about Buffett on March 13, it went viral more widely this week after Trump announced a slew of tariffs.

"There are reports currently circulating on social media (including Twitter, Facebook and Tik Tok) regarding comments allegedly made by Warren E. Buffett. All such reports are false," Berkshire said in a statement.

Buffett has been managing Berkshire since 1965. Berkshire had earlier in October last year said Buffett would not endorse political candidates or investment products. It came after "numerous fraudulent claims" suggested his support.

Meanwhile Trump’s tariff announcement on Liberation Day, April 2, has sent shockwaves across global markets. It led to wiping out $2.5 trillion in wealth on Wall Street.

Many billionaires including SpaceX and Tesla CEO Elon Musk, Amazon founder Jeff Bezos, Meta chief Mark Zuckerberg saw their combined wealth plunge.

While the market crash hit most billionaires, Buffett survived the storm. According to the Bloomberg Billionaires Index, Buffett lost $2.57 billion but remains in the green. His year-to-date profit still stands at $23.4 billion.

Notably, Trump on Truth Social has reassured Americans that the US economy would emerge “stronger, bigger, better and more resilient than ever before”.

In a separate post, he added that “markets will boom”.

--IANS

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