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Fortune
Fortune
Greg McKenna

Why did Warren Buffett sit out the election?

Warren Buffett speaks at a podium with a crowd both behind and in front of him as Hillary Clinton watches on from a chair to his left. (Credit: Daniel Acker—Bloomberg via Getty Images)

Warren Buffett made clear he would not publicly back either Kamala Harris or Donald Trump in the race for the White House. His nearly trillion-dollar conglomerate, Berkshire Hathaway, issued a statement on social media warning of “fraudulent” endorsements. The revered investor, meanwhile, told The Wall Street Journal he feared someone could try to mislead voters by impersonating his voice or likeness, possibly using an AI-generated deepfake.

But Buffett hasn't always been as anxious about the political limelight. In fact, the 94-year-old’s silence this election season is a relatively new development for a business leader with a history of backing Democrats. The son of a Republican Congressman, he’s previously donated millions in support of abortion rights and has helped raise money for Barack Obama and Hillary Clinton, appearing onstage with the latter multiple times during her 2016 presidential campaign.

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