Most Talked-About Controversies Linked to Warren Buffett

Public opinion and media debates around Warren Buffett—discover key moments of controversy.

Warren Buffett is a highly successful American investor and philanthropist, serving as the chairman and CEO of Berkshire Hathaway. Renowned for his investment acumen, he's considered one of America's most prominent investors. As of May 2025, his estimated net worth of $160.2 billion ranks him as the fifth-richest person globally.

Sections (7)

Full Timeline Early Life & Education Career & Achievements Success & Recognition Challenges & Struggles Controversies & Scandals Legacy & Impact

1974: SEC Investigation

In 1974, the SEC opened a formal investigation into Warren Buffett and Berkshire Hathaway's acquisition of Wesco Financial, though no charges were brought.

1977: Purchase of Buffalo Evening News

In 1977, Berkshire Hathaway indirectly purchased the Buffalo Evening News for $32.5 million, leading to antitrust charges.

1982: Buffalo Courier-Express Folded

In 1982, The Buffalo Courier-Express folded after antitrust charges related to Berkshire's purchase of the Buffalo Evening News.

1989: Purchase of Private Jet

In 1989, Warren Buffett purchased a private jet for nearly $6.7 million and named it "The Indefensible," later renamed "The Indispensable".

1990: Salomon Brothers Scandal

In 1990, a scandal involving John Gutfreund surfaced at Salomon Brothers, where a rogue trader was submitting bids in excess of Treasury rules.

August 1991: Gutfreund left the company

In August 1991, John Gutfreund left the Salomon Brothers company due to the rogue trader scandal.

March 15, 2005: Greenberg Resigns from AIG

On March 15, 2005, the AIG board compelled Greenberg to resign from his position as chairman and CEO following allegations by New York state regulators that AIG engaged in questionable transactions and improper accounting practices.

February 9, 2006: AIG Pays $1.6 Billion Fine

On February 9, 2006, AIG agreed to pay a $1.6 billion fine as a result of regulatory scrutiny.

2006: Remarks on Tax Fairness

In 2006, Buffett stated that he paid only 19% of his income in federal taxes, while his employees paid 33%, despite earning much less. He questioned the fairness of this situation, stating, "There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning."

2006: Disowning of Nicole Buffett

In 2006, Warren Buffett disowned his son Peter's adopted daughter, Nicole, after she participated in a documentary about economic inequality.

2007: Testimony on Preserving the Estate Tax

In 2007, Buffett testified before the Senate, urging them to preserve the estate tax to avoid a plutocracy. Some critics argued Berkshire Hathaway benefited from the estate tax in past business dealings and had developed and marketed insurance policies to protect policy holders against future estate tax payments.

2007: Criticism During Subprime Mortgage Crisis

In 2007, during the subprime mortgage crisis, Warren Buffett faced criticism for allocating capital too early, which resulted in suboptimal deals.

2008: Buffett's Opinion Piece and Market Downturn

In 2008, Warren Buffett published an opinion piece in the New York Times with the message "Buy American. I am." He also referred to the downturn in the financial sector that started in 2007 as "poetic justice."

2009: Buffett Sold Shares of Johnson and Johnson

In 2009, Warren Buffett sold shares of Johnson & Johnson, part of a series of sales between 2009 and 2012 that totaled $80 million.

June 2010: Buffett Defends Credit-Rating Agencies

In June 2010, Warren Buffett defended the credit-rating agencies for their role in the U.S. financial crisis.

2010: Settlement with Gen Re

In 2010, the U.S. government reached a $92 million settlement with Gen Re, a Berkshire Hathaway subsidiary, to avoid prosecution in the AIG case. Gen Re also committed to implementing corporate governance concessions.

2012: Buffett Sold Shares of Walmart and Wells Fargo

In 2012, Warren Buffett sold shares of Walmart and Wells Fargo, part of a series of sales between 2009 and 2012 that totaled $80 million.

August 20, 2014: Berkshire Hathaway Fined for Reporting Violation

On August 20, 2014, Berkshire Hathaway was fined $896,000 for failing to report as required the December 9, 2013, purchase of shares in USG Corporation.

2023: Allegations of Conflict of Interest

In 2023, a ProPublica article alleged that Warren Buffett made equity trades in his personal portfolio involving companies that Berkshire Hathaway bought or sold during the same or prior quarter, raising conflict of interest concerns.