Membership in the club of being a billionaire is a limited enterprise, as there are only so many ultra-wealthy people on the planet. President Donald Trump is one of them, but he is not remotely close to the top of richest people on the planet, and Trump’s fellow billionaires do not hold him in high esteem. In fact one cannot think of another billionaire who enjoys a strong friendship with Trump, but one can quickly think of numerous billionaires who are openly hostile towards him. Billionaire investor Warren Buffet is among Trump’s most vocal critics and in a letter written to the shareholders of his company Berkshire Hathaway he sandbagged Trump.
Our efforts to materially increase the normalized earnings of Berkshire will be aided – as they have been throughout our managerial tenure – by America’s economic dynamism. One word sums up our country’s achievements: miraculous. From a standing start 240 years ago – a span of time less than triple my days on earth – Americans have combined human ingenuity, a market system, a tide of talented and ambitious immigrants, and the rule of law to deliver abundance beyond any dreams of our forefathers
The commentary by Buffet was likely too subtle for Trump to understand, and Trump will likely have to have the insult explained to him by someone much smarter than he is.