Warren Buffett Warns Against AI Deepfakes and Fake Endorsements

Warren Buffett -- worried about impersonators -- says he doesn't endorse candidates or investments

Warren Buffett, CEO of Berkshire Hathaway, arrives at the 2019 annual shareholders meeting in Omaha, Neb.Johannes Eisele / AFP via Getty Images file Warren Buffett is worried about a rise in impersonators looking to capitalize on his name by purporting to be him recommending an investment product or political candidate on social media. So much so that Berkshire Hathaway made the rare move of adding a statement on the matter to the front page of its website. The statement reads: The chairman and CEO of Berkshire elaborated to CNBC's Becky Quick, saying: "I'm worried about people impersonating me and that's why we put that on the Berkshire Web site. Nobody should believe anybody saying I'm telling them how to invest or how to vote." Buffett's statement comes during a tense political season with a deadlocked presidential race between Vice President Kamala Harris and former President Donald Trump that's divided big names on Wall Street and in Silicon Valley like Elon Musk, Bill Ackman and Mark Cuban. The New York Times reported Tuesday that Bill Gates is privately supporting Harris with a $50 million donation to a nonprofit backing her candidacy. There's also a broader concern about so-called deep fakes, using artificial intelligence to impersonate influential people for commercial gain or other uses with the image or videos looking closer and closer to reality because of advancements in the technology. For those familiar with the investment legend's viewpoints, any endorsement by Buffett of an investing product or cryptocurrency would be met with skepticism since he famously shuns bitcoin and largely recommends that regular investors buy low-cost index funds. But Buffett wants to make sure everyone knows he would never do something like that. His actions were triggered in part by a fake political endorsement on Meta's Instagram that was brought to his attention. "I don't even know how to get on Instagram," he told CNBC, adding he wanted to make sure people realize "anything they see with my image or my voice, it just ain't me."

Warren Buffett -- worried about impersonators -- says he doesn't endorse candidates or investments

Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024. Warren Buffett is worried about a rise in impersonators looking to capitalize on his name by purporting to be him recommending an investment product or political candidate on social media. So much so that Berkshire Hathaway made the rare move of adding a statement on the matter to the front page of its website. The statement reads: The chairman and CEO of Berkshire elaborated to CNBC's Becky Quick, saying: "I'm worried about people impersonating me and that's why we put that on the Berkshire Web site. Nobody should believe anybody saying I'm telling them how to invest or how to vote." Buffett's statement comes during a tense political season with a deadlocked presidential race between Vice President Kamala Harris and former President Donald Trump that's divided big names on Wall Street and in Silicon Valley like Elon Musk, Bill Ackman and Mark Cuban. The New York Times reported Tuesday that Bill Gates is privately supporting Harris with a $50 million donation to a nonprofit backing her candidacy. There's also a broader concern about so-called deep fakes, using artificial intelligence to impersonate influential people for commercial gain or other uses with the image or videos looking closer and closer to reality because of the rise in the technology. For those familiar with the investment legend's viewpoints, any endorsement by Buffett of an investing product or cryptocurrency would be met with skepticism since he famously shuns bitcoin and largely recommends that regular investors buy low-cost index funds. But Buffett wants to make sure everyone knows he would never do something like that. His actions were triggered in part by a fake political endorsement alerted to him on Meta's Instagram. "I don't even know how to get on Instagram," he told CNBC, adding he wanted to make sure people realize "anything they see with my image or my voice, it just ain't me."

Warren Buffett isn't endorsing anybody or anything -- so don't believe the AI deepfakes

Billionaire and influential investor Warren Buffett has made it clear that he does not plan to endorse a political candidate and once again slammed deepfakes -- videos altered with AI tech -- that claim otherwise. "In light of the increased usage of social media, there have been numerous fraudulent claims regarding Mr. Buffett's endorsement of investment products as well as his endorsement and support of political candidates," Buffett's holding company Berkshire Hathaway (BRK.A-0.59%) said in a statement issued this week. "Mr. Buffett does not currently and will not prospectively endorse investment products or endorse and support political candidates." Buffett has previously expressed concerns over AI and even compared the tech to the atomic bomb. Speaking at the annual Berkshire Hathaway shareholders conference in May, Buffett likened the advent of AI to his views on nuclear weapons. The Berkshire CEO referenced his remarks from the previous year's conference, recalling that he had described the atomic bomb as a genie let out of the bottom that "has been doing some terrible things" and "scares the hell out of" him. "AI is somewhat similar, it's part way out of the bottle, and it's enormously important and it's gonna be done by somebody," Buffett said. "We may wish we'd never seen that genie, or it may do wonderful things." While he said he's not very familiar with the technology, he had one experience that made him "a little nervous" about AI: He stumbled across a video using his likeness generated by AI, "delivering a message that in no way" came from him. He worried that that could open the floodgates for potential scams, calling it "the growth industry of all time." Buffett may have been referring to a deepfake video, which has been debunked, showing the Oracle of Omaha promoting a Bitcoin giveaway on Fox News (FOXA-0.30%). In May, New York Attorney General Letitia James referenced Buffett in an investor alert warning about scams using AI.

Warren Buffett is so over AI deepfakes he forced Berkshire Hathaway to release a statement saying he would never endorse a presidential candidate -- 'It just ain't me'

Many of the famous and ultra-wealthy are endorsing and throwing money at either Vice President Kamala Harris or former President Donald Trump. Just last night, The New York Times reported Microsoft founder Bill Gates quietly donated a whopping $50 million to the Harris campaign. But one of the world's richest men completely refuses to reveal his support for any candidate: Warren Buffett. And it's probably not for a reason you'd expect. It has nothing to do with any potential hits to his business that might come from supporting one candidate over the other; it's because he's frustrated with people impersonating him online. He's so worried, in fact, that Berkshire Hathaway added a statement to the front page of its antiquated website to clear the air about their chairman and CEO's political and investment product endorsements. "In light of the increased usage of social media, there have been numerous fraudulent claims regarding Mr. Buffett's endorsement of investment products as well as his endorsement and support of political candidates," the statement reads. "Mr. Buffett does not currently and will not prospectively endorse investment products or endorse and support political candidates." The concern comes just weeks after New York Attorney General Letitia James issued a warning about investment scams using AI-manipulated videos and deepfakes intended to deceive potential investors. "Sophisticated scammers are using AI to impersonate trusted business leaders and scam vulnerable New Yorkers out of their hard-earned money," James said in an Aug. 29 statement. "Manipulated videos advertising phony investment scams are spreading like wildfire on social media." In another statement just a week later, James also warned of fraudulent political endorsements. "AI-created deepfakes that spread lies about candidates, policy proposals, and even where New Yorkers can access the polls all represent a dangerous threat to democracy," she said in a Sept. 9 statement. Other billionaires and celebrities have fallen victim to deepfakes this year, including Trump, Taylor Swift, Elon Musk, Joe Biden, Will Smith, Beyoncé, and Mark Zuckerberg. In fact, the problem has gotten so severe a new public-service campaign featuring actor Rosario Dawson and other Hollywood stars including Chris Rock, Laura Dern, Michael Douglas, Amy Schumer, and Jonathan Scott launched this week aiming to alert Americans to not be fooled by the AI-generated deepfakes. "No one should come between an American and their vote," Dawson told NBC News in a statement. "Unfortunately, it's safe to say people are going to try." Political consultants Julius van de Laar and Craig Oliver have been warning of the dangers of artificial intelligence's influence on the election since the spring. Speaking at Fortune's Brainstorm AI conference in April, they said deepfakes could alter the outcome of the 2024 presidential election. "The problem is this space is almost completely unregulated. You're in a situation where there are no rules. And the truth about politics is if there isn't a rule someone will say, 'Well, my opponent will use it if I don't'," said Oliver, global co-head of strategy and reputation at communications consultancy FGS Global. "It becomes a race to the bottom."

Warren Buffett Warns Of Fake Endorsements, Berkshire Hathaway CEO Says 'It Just Ain't Me' On Social Media - Meta Platforms (NASDAQ:META)

Berkshire Hathaway posts a statement to its website warning to be vigilant against scams that attempt to exploit Buffett's reputation. Berkshire Hathaway Inc. BRK BRK chairman and CEO Warren Buffett is worried about impersonators on social media fraudulently using his name and likeness to endorse political candidates and investments. The Details: Buffett told CNBC that he was made aware of a fake political endorsement on Meta Platforms' META Instagram and clarified that he does not support any political candidates or specific investment opportunities. "I don't even know how to get on Instagram," Buffett told CNBC. He added that people should be aware that "anything they see with my image or my voice, it just ain't me." Berkshire Hathaway posted a statement to its corporate website warning people to be vigilant against scams that attempt to exploit Buffett's reputation. The statement reads: "In light of the increased usage of social media, there have been numerous fraudulent claims regarding Mr. Buffett's endorsement of investment products as well as his endorsement and support of political candidates. Mr. Buffett does not currently and will not prospectively endorse investment products or endorse and support political candidates." Read Next: AMD To Benefit From AI 'Competitive Arms Race': Goldman Sachs The statement from Berkshire Hathaway's CEO comes in the final days of a tense presidential campaign season that has seen other CEOs including Elon Musk, Bill Ackman and Mark Cuban endorsing their preferred candidates. The widespread use of artificial intelligence to create "deep fakes" to impersonate celebrities and public figures is also a concern. As AI technologies improve, it has become increasingly difficult to distinguish real images and videos from AI-enhanced fakes. "I'm worried about people impersonating me and that's why we put that on the Berkshire website. Nobody should believe anybody saying I'm telling them how to invest or how to vote," Buffett said. BRK-A, BRK-B Price Action: According to Benzinga Pro, Berkshire Hathaway Common Stock shares are down 0.4% at $689,852.75 and Berkshire Hathaway New Common Stock shares are down 0.34% at $459.87 at the time of publication Wednesday. Read Also: Bank Of America CEO Cautions Fed Not To 'Go Too Fast Or Too Slow' On Interest Rate Cuts Image: Paul ( PWLPL) from Pixabay Market News and Data brought to you by Benzinga APIs