Warren Buffett would back Michael Bloomberg for presidential run, not Howard Schultz
- Buffett said third-party candidates are more likely to damage the chances of candidates who share their views
Billionaire investor Warren Buffett said it would be a “real mistake” for former Starbucks chief executive Howard Schultz to run for president, explaining that third-party candidates can thwart the will of American voters. But he would get behind Michael Bloomberg in 2020.
In a lengthy, wide-ranging interview with CNBC Monday, the chairman and chief executive of Berkshire Hathaway said Schultz would only siphon votes from the Democratic nominee.
“So I think it would be a real mistake for him to run,” he said.
Buffett said third-party candidates are more likely to damage the chances of candidates who share their views. He said he hopes that no independent candidate runs for president.
“I think third-party candidates can thwart, actually, the will of the people,” he said.
Earlier this month Schultz told The Washington Post that he would abandon any White House ambitions if Democrats put up a centrist who would make it too difficult for his campaign to succeed. Schultz contends the Democratic Party has moved too far to the left.
But Democrats and others have criticised Schultz, whose net worth is estimated by Forbes to be US$3.5 billion, casting him as a potential spoiler.
Billionaire former Starbucks CEO Howard Schultz considers presidential bid. That could be good for Donald Trump, bad for Democrats
Senator Bernie Sanders, who launched his campaign for president last week, accused Schultz of trying to “blackmail” the Democratic Party.
Even US President Donald Trump appeared to encourage Schultz to get into the race, saying on Twitter recently that Schultz doesn’t have the “guts” to run against him.
Buffett told CNBC that he would endorse Bloomberg if the billionaire businessman and former New York City mayor launched a presidential bid.
Bloomberg, who is now a Democrat, has strongly criticised third-party runs, saying last month that, “In 2020, the great likelihood is that an independent would just split the anti-Trump vote and end up re-electing the president.”
Buffett said he has voted for both Democrats and Republicans and favours Bloomberg because of his understanding of people, management and the market.
