SPY337.60-8.18 -2.36%
DIA275.30-8.04 -2.84%
IXIC11,290.82-257.47 -2.23%

Biden, Buffett Talk Leadership; Berkshire CEO Has Yet To Make Endorsement

Joe Biden praised a discussion he had with billionaire Warren Buffett, but has not received an endorsement from the  Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) CEO. 

· 10/16/2020 15:53

Joe Biden praised a discussion he had with billionaire Warren Buffett, but has not received an endorsement from the 

Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) CEO. 

What Happened: Ahead of a fundraiser with donors Wednesday, Biden shared details on a phone call he had with the legendary investor, according to Bloomberg.

“Just got off the phone with Warren Buffett, talking about how we have [a] position unlike 50, 70, 80 years ago to lead the whole damn world in a way that no on else can,” Biden said.

The Biden campaign said the virtual fundraising event included several Wall Street executives.

Buffett has been vocal about investing in America, telling his investors “I will bet America the rest of my life” at his annual conference in May. 

“The only thing that’s going to tear America apart is America itself. There’s no limit to America’s future,” Buffett reportedly told Biden.

Related Link: Warren Buffett Turns 90: A Highlight For Each Decade Of His Life

Buffett's History With Candidates: Buffett has supported Democrats in recent years. He campaigned for Hillary Clinton in 2016.

Buffett threw fundraisers for Barack Obama and maintained a strong relationship with the former president.

Warren Buffett backed Mike Bloomberg for president earlier this year. Bloomberg dropped out of the race in March after falling behind in the Democratic primary. 

Why Doesn’t Buffett Endorse Biden?: Buffett has been vocal about President Donald Trump in the past. He criticized Trump during a Clinton rally, discussing Trump’s failed business career and excuses for not releasing his tax returns. 

Despite the criticism of Trump, Buffett has not publicly endorsed Biden and has not contributed any money to his campaign, according to CNBC.

Buffett has said before he has voted for both Republican and Democratic  candidates over the years.

Yahoo Finance journalist Andy Serwer believes Buffett is remaining quiet due to the risk of potential boycotts of Berkshire Hathaway businesses that have already been hurt by the pandemic.

Buffett “doesn’t want to tie a CEO’s hands that way,” Serwer said, adding that Buffett is “thinking of business and employees first.”

Serwer also believes there may be potential concerns over a lack of a clear health care plan from Biden. 

Benzinga file photo by Dustin Blitchok.