Warren Buffett has voiced his apprehension regarding the escalating menace of nuclear weaponry, saying the prospect of Iran acquiring a bomb would heighten the risk of a dangerous conflict.
Buffett, the chairman and former CEO of Berkshire Hathaway (NYSE:BRK), speaking on CNBC's "Squawk Box" on Tuesday, cautioned that the growing number of nuclear-armed nations is fundamentally altering the global risk scenario. He specifically highlighted the escalating geopolitical tensions involving Iran and North Korea.
“Just think of how you’d feel with North Korea having it and Iran wanting to get it,” the billionaire investor said. He also warned about the risks of a nuclear-armed leader acting under personal or political pressure.
"The most dangerous thing is, actually, somebody that's got their hand on the switch, who is dying themselves, or is facing enormous embarrassment,” Buffett said.
The 95-year-old has consistently expressed his concerns about nuclear proliferation, believing that the spread of nuclear capabilities heightens the chances of a catastrophic event. “It'll be more difficult if Iran has the bomb than if they don't,” he added.
When asked about the advice he would offer a U.S. president dealing with the issue of enriched uranium, Buffett forecasted that nuclear weapons would inevitably be used at some point in the next 100 to 200 years.
Dimon Warns Of Volatility Amid Tensions
Buffett’s concerns come amid increasing global tensions. Jamie Dimon, CEO of JPMorgan Chase (NYSE:JPM), also defended the war with Iran as overdue for 45 years, while speaking to Axios on Tuesday. Dimon pushed back on critics who claimed there was “no imminent threat” from Iran, saying they were merely arguing that “the bad thing hasn’t happened” yet.
Previously, Dimon had expressed frustration with the U.S.’s lack of preparedness for war, citing issues with the country’s ability to quickly scale up arms production.
However, the billionaire banker warned that markets will remain volatile until the conflict is resolved. This ongoing conflict has significantly impacted global trade routes, particularly the Strait of Hormuz.
However, there seemed to be a glimmer of hope on Tuesday as Iran’s President Masoud Pezeshkian announced the country’s readiness to halt hostilities, provided they receive guarantees from the U.S. This, coupled with President Donald Trump‘s announcement of exiting the war in two to three weeks, led to a surge in equities and a drop in oil prices.
Nasdaq and S&P 500 closed 3.83% and 2.91% higher, respectively. At 4:22 AM ET, Brent crude oil was trading 2.22% lower at $101.66 per barrel.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.
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