Warren Buffet: Cyber ‘No. 1 problem with mankind’


In this Sunday, May 1, 2016, file photo, Berkshire Hathaway Chairman and CEO Warren Buffett watches Microsoft co-founder Bill Gates, left, play bridge outside the Borsheims jewelry store, a Berkshire Hathaway subsidiary, in Omaha, Neb. (AP Photo/John Peterson, File)

American business mogul and philanthropist, Warren Buffett, spoke about threats facing humanity during Berkshire Hathaway’s annual shareholders’ meeting May 6, putting cyber at the top of the list, reports Business Insider.

“I don’t know that much about cyber,” Buffet said during the meeting, “But I do think that’s the No. 1 problem with mankind.”

“I’m very pessimistic on weapons of mass destruction generally although I don’t think that nuclear probably is quite as likely as either primarily biological and maybe cyber,” Buffett continued.

Previously, Buffett said CNBC – cyber, nuclear, biological and chemical attacks – pose the greatest threat to the economic well-being of Berkshire Hathaway shareholders.

Berkshire Hathaway made a bet in 2015 that could potentially profit from an increase in cyber breaches, the Business Insider report notes. Two insurance policies were launched by the company that cover cyber liability and the costs that come with responding to a breach in data or cyber threat.