Joining other experts, billionaire investor Warren Buffet says Apple might have violated the law by keeping quiet about Steve Jobs’s liver transplant.
The head of Berkshire Hathaway said Jobs’s life-saving operation was a “material fact” that Apple was legally obliged to report to investors. The Securities and Exchange commission requires public companies to report material facts to shareholders. Failure to do so is in breach of the law.
“It’s a material fact,” said Buffett on CNBC on Wednesday. “Whether he is facing serious surgery or not is a material fact. Whether I’m facing serious surgery is a material fact. Whether (General Electric CEO) Jeff Immelt is, I mean, so I think that’s important to get out. They’re going to find out about it anyway so I don’t see a big privacy issue or anything of the sort.”
Buffett joins other experts, such as marketing professor Paul Argenti, who say Apple violated the law by keeping Jobs’s declining health a secret.
However, both Jobs and Apple have insisted that Jobs’s health is a private matter. Jobs reportedly undertook the transplant while on medical leave, and wasn’t actively running the company on a day-to-day basis.
Buffett, however, seems unconvinced.
“If I have any serious illness, or something coming up of an important nature, an operation or anything like that, I think the thing to do is just tell the American, [or in my case] the Berkshire shareholders about it,” Buffett said. “I work for ’em. Some people might think I’m important to the company. Certainly Steve Jobs is important to Apple.”
Buffett is famously plainspoken, and, as no doubt someone will note in the comments, a close friend of Bill Gates. Buffett, 75, has pledged 85% of his Hathaway stock to five foundations, most of it going to the Bill & Melinda Gates Foundation.
But as MacBlogz points out, Jobs and Buffett share many similarities: The two billionaires live simple lives in modest houses; hold liberal political views; and both are very closely associated with the companies they run. MacBlogz: Warren Buffett & Steve Jobs: 10 Similarities.
Leander Kahney is the editor and publisher of Cult of Mac.
Leander is a longtime technology reporter and the author of six acclaimed books about Apple, including two New York Times bestsellers: Jony Ive: The Genius Behind Apple’s Greatest Products and Inside Steve’s Brain, a biography of Steve Jobs.
He’s also written a top-selling biography of Apple CEO Tim Cook and authored Cult of Mac and Cult of iPod, which both won prestigious design awards. Most recently, he was co-author of Cult of Mac, 2nd Edition.
Leander has been reporting about Apple and technology for nearly 30 years.
Before founding Cult of Mac as an independent publication, Leander was news editor at Wired.com, where he was responsible for the day-to-day running of the Wired.com website. He headed up a team of six section editors, a dozen reporters and a large pool of freelancers. Together the team produced a daily digest of stories about the impact of science and technology, and won several awards, including several Webby Awards, 2X Knight-Batten Awards for Innovation in Journalism and the 2010 MIN (Magazine Industry Newsletter) award for best blog, among others.
Before being promoted to news editor, Leander was Wired.com’s senior reporter, primarily covering Apple. During that time, Leander published a ton of scoops, including the first in-depth report about the development of the iPod. Leander attended almost every keynote speech and special product launch presented by Steve Jobs, including the historic launches of the iPhone and iPad. He also reported from almost every Macworld Expo in the late ’90s and early ‘2000s, including, sadly, the last shows in Boston, San Francisco and Tokyo. His reporting for Wired.com formed the basis of the first Cult of Mac book, and subsequently this website.
Before joining Wired, Leander was a senior reporter at the legendary MacWeek, the storied and long-running weekly that documented Apple and its community in the 1980s and ’90s.
Leander has written for Wired magazine (including the Issue 16.04 cover story about Steve Jobs’ leadership at Apple, entitled Evil/Genius), Scientific American, The Guardian, The Observer, The San Francisco Chronicle and many other publications.
Leander is an expert on:
Apple and Apple history
Steve Jobs, Jony Ive, Tim Cook and Apple leadership
Apple community
iPhone and iOS
iPad and iPadOS
Mac and macOS
Apple Watch and watchOS
Apple TV and tvOS
AirPods
Leander has a postgrad diploma in artificial intelligence from the University of Aberdeen, and a BSc (Hons) in experimental psychology from the University of Sussex.
He has a diploma in journalism from the UK’s National Council for the Training of Journalists.
Leander lives in San Francisco, California, and is married with four children. He’s an avid biker and has ridden in many long-distance bike events, including California’s legendary Death Ride.
You can find out more about Leander on LinkedIn and Facebook. You can follow him on X at @lkahney or Instagram.
