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Last Updated: Monday, 3 May, 2004, 09:25 GMT 10:25 UK
Tycoon aids Kerry White House bid

By Stephen Evans
BBC's North America correspondent in Omaha

Warren Buffett
Buffett usually backs winners, at least in business
Investor Warren Buffett, the world's second richest man, is to help Senator John Kerry's campaign to remove President Bush from the White House.

Mr Buffett, worth some $40bn, said he disagreed profoundly with Mr Bush's tax cuts for rich people like him.

"He (Bush) just has a different political philosophy than I do," Mr Buffett told the BBC.

Mr Buffett is pragmatic and endorses individuals and policies rather than parties.

"The sage of Omaha", as Mr Buffett is sometimes known, advised Arnold Schwarzenegger when he won in California as a Republican.

Not 'a good idea'

"In tax, policies have been tilted very much towards the rich, and I think that when the tax cuts took place they should have been far more for the middle class and people in poor economic status," Mr Buffett said.

John Kerry
Buffett's backing is welcome news for Kerry

"Instead, I got... more money in my pocket because of the tax change and I don't think it's a good idea," he added.

Mr Buffett is perhaps the most powerful business leader in the world.

His company Berkshire Hathaway owns swathes of corporate America from some of Coca-Cola to the country's biggest brickmaker.

Mr Buffett usually backs winners, at least in business, though that does not necessarily mean Senator Kerry will win in November's presidential poll.

The BBC's Juliet Dunlop
"Just as the battle for the White House hots up, Mr Kerry has made an important new best friend"

Warren Buffett: Investment guru
14 Aug 03  |  Business

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