Warren Buffett

Buffett acknowledged that Berkshire had overpaid in the merger that created Kraft Heinz. The company suffered major impairments in 2019, and Berkshire recorded a further $3.76 billion after-tax impairment on its stake in 2025.

State of the evidence

Documented

Attribution

Directly implicated

Using confidential tax data obtained during its investigation of the ultra-rich, ProPublica reported several personal trades by Buffett in shares that Berkshire bought or sold around the same periods, raising questions about compliance with its internal ethics code.

State of the evidence

Documented

The Wells Fargo scandal involving millions of unauthorised accounts placed pressure on Berkshire, then its largest shareholder, and Buffett, who had long publicly praised the bank. He eventually described the sales targets as a terrible mistake that had corrupted incentives.

State of the evidence

Documented

Buffett advocated higher taxation of the very wealthy, explaining that his effective income tax rate was lower than that of some employees, notably his secretary. The comparison became a major political argument and a recurring target for fact-checks and opponents.

State of the evidence

Documented

Attribution

Personally implicated

David Sokol, an executive considered a potential successor to Buffett, had bought Lubrizol shares before recommending the company as an acquisition target to Berkshire. Following the disclosure, Sokol resigned and Buffett admitted that he had made a mistake by not questioning him further about his purchases.

State of the evidence

Documented

Attribution

Directly implicated

Finite reinsurance transactions between Berkshire subsidiary General Re and AIG were central to investigations into artificial presentation of AIG's reserves. Several executives were prosecuted or sanctioned, and Buffett was questioned as a witness during the investigations.

State of the evidence

Documented

Salomon Brothers was engulfed in scandal following irregular and falsified bids at US Treasury securities auctions and management's failure to react promptly. Berkshire was a major investor, and Buffett became interim chairman during the crisis.

State of the evidence

Documented

Attribution

Directly implicated

Following the Salomon scandal, investors criticised compensation systems considered excessive and poorly aligned with incentives. Buffett, a director and compensation committee member, was himself questioned about oversight of the arrangements.

State of the evidence

Documented

Attribution

Directly implicated