Warren Buffet calls Howard Schultz's potential White House run a 'real mistake'

  • Warren Buffet said Monday it would be a “real mistake” for former StarbucksCEO Howard Schultz to run for president.
  • “If he ran as an independent, I think he would take votes away from any Democrat,” Buffett said.
  • Buffett said he would support former New York City Mayor Michael Bloomberg if he decided to enter the presidential race.

Billionaire Warren Buffet delivered a blow on Monday to Howard Schultz, saying it would be a “real mistake” for the former Starbucks CEO to run for president.

Buffett also threw his support behind Michael Bloomberg, the former mayor of New York City and founder of Bloomberg LP, as a potential 2020

“If he ran as an independent, I think he would take votes away from any Democrat, including [former New York City Mayor Michael] Bloomberg, if he were running, so I think it would be a real mistake for him to run,” Buffett, the CEO of Berkshire Hathaway, said in an interview with CNBC’s Becky Quick.

“I think, generally, third-party candidates, they’re going to hurt one side or the other, and they’re more likely to hurt the side that they actually favour, because they’re closer to that view,” he added. “I hope no third-party candidate runs that pulls any significant amount of votes. I mean, there will always be a couple of people that file, but I think third-party candidates can thwart, actually, the will of the people.”

Read more:
Insiders reveal why Starbucks’ former CEO Howard Schultz is willing to ruin his life to run for president

Schultz said in January that he was “seriously considering” a presidential run as a centrist independent. Since then, he has faced intense backlash from progressives who have argued, like Buffett, that a third-party candidacy would help re-elect President Trump.

Bloomberg has not yet revealed whether he will enter the presidential race.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.