Billionaire Warren Buffett dismisses Brexit fears and is ‘ready to buy something in UK tomorrow’

Billionaire investor Warren Buffett has handed a big endorsement to Britain ahead of Brexit by dismissing fears about its impact on the economy

Billionaire investor Warren Buffett has handed a big endorsement to Britain ahead of Brexit by dismissing fears about its impact on the economy

Billionaire investor Warren Buffett has handed a big endorsement to Britain ahead of Brexit by dismissing fears about its impact on the economy

Billionaire investor Warren Buffett has handed a big endorsement to Britain ahead of Brexit by dismissing fears about its impact on the economy.

The 88-year-old American, who is worth an estimated $88billion, said he is ready to ‘buy something in the UK tomorrow’, and welcomed the chance to put his money in a ‘trusted’ system. 

Mr Buffett, whose interests in Britain have included investments in supermarket giant Tesco through his conglomerate Berkshire Hathaway, added that Britain’s departure from the EU had no bearing on his willingness to put more money in the UK. 

His firm would never understand ‘any other culture or the tax laws’ as well as the US, but they could ‘come awfully close in Britain’, Mr Buffett said, speaking in an interview with the Financial Times

Despite his age, Mr Buffett, who was speaking in his office in Omaha, Nebrasaka, did not announce any plans to step down. 

‘I’m having a vacation every day,’ he said. 

The 88-year-old American, who is worth an estimated $88billion said he is ready to 'buy something in the UK tomorrow', and welcomed the chance to put his money in a 'trusted' system

The 88-year-old American, who is worth an estimated $88billion said he is ready to 'buy something in the UK tomorrow', and welcomed the chance to put his money in a 'trusted' system

The 88-year-old American, who is worth an estimated $88billion said he is ready to ‘buy something in the UK tomorrow’, and welcomed the chance to put his money in a ‘trusted’ system

‘This is the pleasure palace here – you’re sitting in it now. I have more fun here than I think any 88-year-old is having, virtually anywhere in the world.’  

Mr Buffett previously branded his investment in Tesco a ‘huge mistake’, with shares in the chain losing 60 per cent of their value between 2008 and 2015. 

But Berkshire Hathaway’s ownership of electricity distributor Northern Powergrid, which supplies businesses and homes in the North-East of England, has been more successful. 

The business delivers $1billion in revenues and $300million in profits every year. 

Berkshire’s footprint in the UK is likely to get bigger after Mr Buffett told his firm’s shareholders earlier this year that they hoped to ‘invest significant sums across borders’.     

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