- Business Insider interviewed Warren Buffett's son about his support for Ukraine.
- Howard Buffett's foundation has donated $520 million in humanitarian aid to Ukraine.
- The philanthropist warns that the United States will commit a historic blunder if it fails to support Ukraine's war effort.
Two years after Russia's full-scale invasion of Ukraine, this conflict-ridden country needs its friends more than ever.
Russia celebrated a landmark victory last week by capturing the eastern town of Avdiivka, but is running low on artillery ammunition. Meanwhile, a $60 billion military aid plan is being roiled in Congress due to opposition from some Republicans.
But Howard Buffett, the eldest son of billionaire investor and Berkshire Hathaway CEO Warren, has no plans to abandon Ukraine or President Volodymyr Zelenskiy.
The wartime leader and the American philanthropist share a deep mutual respect.
“There are very few people in the world who could step up and do what Mr. Zelenskyy did,” Buffett told Business Insider. “I think he's a pretty great guy,” he said.
As a result, Mr. Buffett's Howard G. Buffett Foundation has emerged as a staunch ally of Ukraine since Russia's full-scale invasion, having committed $521,779,225 in humanitarian aid to Ukraine as of January 2024. There is.
The United States and its “Ukraine fatigue” problem
“This guy must be exhausted,” Buffett said of Zelensky. “I don't know when he's sleeping. He's just always active. He's been through two years of war, and it's a living hell and he deals with it every day.”
“He's got to deal with the ministries and stay focused. He's got to keep the economy functioning. He's got to be on the military side as well. So for me, he's got to step up and do his job. “I think there are very few people who have been able to do that,” Buffett said.
“I don't think anyone has done a better job,” he said, observing, “It's an incredible force that he's up against.”
While Buffett worries about Zelensky's heavy schedule and sleepless nights, he is also worried about “Ukraine fatigue” affecting the United States, its most important ally.
He warned against this last year and continues to stress the importance of supporting the war effort.
“It's hard to keep this going because over time people lose interest. And if we don't continue to support Ukraine, it will be one of the biggest mistakes the United States makes in history.”
“The most frustrating thing is watching the news coverage in the United States, because there are congressmen and senators whose districts and constituencies are benefiting from this war,” he said.
Buffett remained tight-lipped, saying an additional $300 million is earmarked for Ukraine this year, and for the past two years the foundation has exceeded its budget.
Most of the foundation's funding comes from donations from his father, Warren Buffett. Warren Buffett is the seventh richest person in the world, with his net worth of $138 billion.
“We have to step up big.”
In December, Zelensky and Howard Buffett visited a Kiev square decorated with a plaque honoring Ukraine's most loyal supporter during Russia's all-out invasion, and told the American philanthropist that his name was “The Brave.” It was also shown that it was carved on the road.
Mr. Zelenskyy told Mr. Buffett, “You are among the world leaders and friends of Ukraine.''
Buffett has called the war “the greatest humanitarian crisis” he has witnessed in his lifetime.
“When Russia invaded Ukraine in 2022, I felt like it was one of those situations where we have to step up now, and we have to step up big.”
His foundation focuses on conflict mitigation and food security, issues concentrated in Ukraine.
The foundation plans to provide at least $800 million in humanitarian aid to Ukraine by the end of 2024.
This huge contribution will exceed the total amount of humanitarian assistance to Ukraine from most countries so far. The UK provided $620 million and the Netherlands $780 million, according to the Kiel Institute's Ukraine aid tracker. The foundation has already given more than Canada, with the NATO member home to a large Ukrainian diaspora contributing $292 million to humanitarian aid.
“Those who feel that Ukraine doesn't need our help fail to realize what Mr. Zelenskiy is leading the country against,” Buffett told BI. That's an incredible amount of power.”
Buffett blames politics for the decline in U.S. support for Ukraine. He said he was standing in the way of supporting countries “fighting for freedom, democracy and sovereignty.”
For Buffett, the only option left for America is to step up its support. “I think the only option is if we fight for NATO. Or even if we say we don't support NATO, we're going to support NATO.” A world of hurt lies ahead. It will be. ”
Buffett's foundation helps revitalize agricultural infrastructure, assist conflict-affected civilian areas, replace broken windows, accelerate demining efforts, and provide critical equipment to security agencies and medical facilities. I've done it.
The foundation began in 2022 by providing food kits to the territories recaptured on the Eastern Front. We were also dedicated to demining efforts and revitalizing local agriculture by providing home gardening equipment, seeds, fertilizers and vegetable seeds.
Buffett said Ukraine's current food insecurity crisis is “ironic” given its reputation as the “breadbasket of Europe”.
“You're standing there giving food to someone who has been producing food for other people all their life,” he said.
“Ukraine was one of the largest suppliers of food aid around the world to the World Food Program, so when the war broke out, Ukraine really disrupted that process,” he said.
“The world is less safe than it was before Putin invaded Ukraine.”
Howard Buffett said he and his father have talked extensively about the situation in Ukraine, but that he intends to keep those conversations private.
But Howard Buffett has also been vocal in his political advocacy, voicing his support for Ukraine and advocating for more international aid and military aid to the war-torn country.
“The world is less safe today than it was before Putin invaded Ukraine,” Buffett said. “If Putin succeeds in Ukraine, it will become even less secure. And rightly so. “However, Mr. Zelenskiy also recognizes this, and the Ukrainian people are living in such a situation.”
Howard Buffett previously met with Zelensky in Kiev in 2022, Business Insider's Theron Mohammed reported. At the time, Mr. Buffett gave Mr. Zelensky an old badge from his time as sheriff of Macon County, Illinois.
“Since you are the top law officer here in Ukraine, I am giving you my old sheriff's badge from when I was sheriff,” Buffett said. “So no one can question that you're number one.”
Correction: February 24, 2024 — An earlier version of this article misspelled Warren Buffett's name in the headline.
