All reports that have been circulating on social media platforms such as X, TikTok, and Facebook "concerning statements purportedly made" by Warren Buffett regarding the economic policies are untrue, said American multinational Berkshire Hathaway.
The comments follow US President Donald Trump's account on his social media platform Truth Social posting a video implying Buffett, Chairman of Berkshire Hathaway, supported the US president's economic policies.
Trump's tweet alleged that the 94-year-old billionaire praised the President for having made "the best economic moves" in over 50 years in America.
Although one of Instagram's users first posted the allegations regarding Buffett on March 13, they spread further and went viral this week following a series of tariffs announced by Trump.
There are false reports going around right now on social media (on Twitter, Facebook and Tik Tok) about supposedly being comments Warren E. Buffett made. Everything reported is inaccurate," Berkshire declared in a release.
Buffett has been controlling Berkshire since 1965. Berkshire previously back in October of last year confirmed Buffett would never support political candidates or investment merchandise. It was after "sundry fake reports" implied he did.
While Trump's tariff declaration on Liberation Day, April 2, shook global markets. It resulted in erasing $2.5 trillion of wealth on Wall Street.
Several billionaires such as SpaceX and Tesla CEO Elon Musk, Amazon founder Jeff Bezos, Meta head Mark Zuckerberg had their combined fortunes plummet.
While the market crash affected all billionaires, Buffett weathered the storm. Buffett lost $2.57 billion but is still in the black, according to the Bloomberg Billionaires Index. His year-to-date gain remains at $23.4 billion.
Interestingly, Trump on Truth Social has assured Americans that the US economy would come out "stronger, bigger, better and more resilient than ever before".
In another post, he added that "markets will boom".
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