Andrew Bary

Warren Buffett plans to steer clear of politics at Berkshire Hathaway's annual meeting on Saturday, although the topic may be tough to avoid given that issues such as tariffs, which are critical to investors, are also politically charged.

The Berkshire CEO, who will take questions from shareholders for 4 1/2 hours at the Omaha gathering, wrote in t he guide to the annual meeting that two topics would be off limits. One is politics and the other is what stocks Berkshire is buying or selling.

"Any other topics are fair game," Buffett wrote in a section titled "Microphone Manners." Buffett also directs shareholders to ask a single question, and not use their time to try to pose multiple queries.

Buffett, 94, will alternate in answering questions directly from meeting attendees and ones posed by CNBC anchor Becky Quick. She will select hers from those emailed to her by Berkshire shareholders.

Buffett included a similar message on politics to shareholders in last year's annual meeting guide.

Many Berkshire shareholders, particularly those on the left, might like to see Buffett openly criticize President Donald Trump's domestic and foreign policy, including what some see as a drift toward authoritarian rule after Trump's defiance of some federal court orders and moves to pull federal funding for big universities such as Harvard.

Buffett has supported Democratic politicians in the past. He endorsed Hillary Clinton when she ran against Trump in the 2016 presidential contest.

But Buffett didn't endorse anyone in the 2024 presidential race.

"Mr. Buffett does not currently and will not prospectively endorse investment products or endorse and support political candidates," Berkshire said in a statement in October. In recent years, Buffett has talked about "tribalism" in American politics and has tried to not to get dragged into it.

While Buffett is vowing to avoid politics, he could get pulled into that terrain. Buffett is likely to get questions on Trump's tariff policies and their impact on Berkshire and the economy. That may lead to a dance in which Buffett speaks critically of the tariffs while trying to avoid directly attacking Trump.

Buffett may be asked whether Trump's policies are undermining confidence in the U.S. dollar, U.S. bonds, and U.S. financial assets generally. He also might be queried about a recent comment from Citadel CEO Ken Griffin, a Republican political donor, that Trump's policies are eroding the "American brand."

Buffett is a big champion of America. Berkshire gets more than 80% of its revenue from the U.S. and has about 90% of its assets and equity holdings in the U.S.

He has said Berkshire's success could only have occurred in the U.S. Berkshire is among the most U.S.-focused of America's largest companies.

Write to Andrew Bary at andrew.bary@barrons.com

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April 30, 2025 16:08 ET (20:08 GMT)

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