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11/22/2024 03:52:01 am

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Warren Buffet Makes Maximum Super PAC Donation for Clinton’s 2016 Candidacy

Hillary Clinton and Warren Buffet

(Photo : REUTERS/Mike Segar) DATE IMPORTED:June 27, 2007Billionaire financier Warren Buffet (R) speaks at a fundraising event for U.S. Democratic presidential candidate Senator Hillary Clinton (D-NY) in New York City June 26, 2007.


Billionaire Warren Buffet, the CEO and chairman of Berkshire Hathaway, appeared to change his position on Super PACs as he has giving the maximum allowed donation to a Super PAC supporting Hillary Clinton's 2016 presidential campaign.


This goes against what Buffet has said previously concerning the self-governing political units with campaigns of candidates that can establish their own donation limits.

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During his firm's annual meeting for stakeholders in 2012, Buffet said, "I don't want to see democracy go in that direction," when asked about the possibility of donating resources and money to outside governmental groups. He added that in political situations surrounding the nation, he had to take a stand and fight for what he believed in.

During the same year, Buffet sponsored a fundraising event for President Barack Obama's candidacy for re-election and ignored Super PACs that similarly showed support for the incumbent president.

The program "Ready for Hillary" received a total donation of $25,000 from Buffet, as reported by CNN and Bloomberg. Its main objective is to encourage Clinton to run for the highest political seat in the U.S. in 2016 and lay the foundation for her candidature. To date, the group has already raised approximately $11 million.

Buffet has always been a Clinton devotee ever since she forged on her political career at the U.S. Senate in 2000, and recently, he was heard saying that he will bet his money on her taking the White House seat in 2016.

During the Fortune's Most Powerful Women Summit last October, Buffet was reported saying, "Hillary is going to win. I will bet my money on it. And I can't do that easily."

The world's third wealthiest man also noted that he has always liked what Clinton believes in, and thought he was remarkably able to actualizing those beliefs for the betterment of the country.

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