Berkshire Hathaway Inc. said Friday that all reports circulating on social media sites including X, TikTok and Facebook “regarding comments allegedly made” by Warren Buffett are false.
While Berkshire didn't describe the nature of the posts, the statement came after Donald Trump's account on Truth Social shared claims earlier Friday purporting that Buffett said the president is making “the best economic moves” seen in more than 50 years.
An Instagram user originally posted the claims about the 94-year-old billionaire on March 13, but the video circulated more widely this week after Trump announced a slew of tariffs that were steeper than expected.
Global markets entered a tailspin on Thursday after Trump's announcement, with about $2 trillion erased from the S&P 500 in one day. The selloff deepened Friday as Federal Reserve Chair Jerome Powell signaled the economic damage of a trade war will be bigger than anticipated, with the potential effects including higher prices and slower growth.
Social media rumors routinely target Buffett, with false claims that he supports certain investment products or political candidates. He said last year he wouldn't endorse any political candidate after “numerous fraudulent claims” emerged regarding his positions.
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