--- title: "Warren Buffett Warns of Upcoming “Megacatastrophe”" description: "Famed investor Warren Buffett warned in his annual letter of a \"megacatastrophe,\" which he said will cause unprecedented havoc." date: "2019-02-24" modified: "2019-02-24" authors: - name: "Jon Christian" job_title: "Executive Editor" link: "https://futurism.com/authors/jonc" url: "https://futurism.com/warren-buffett-upcoming-megacatastrophe" categories: - "Climate Change" - "Environment" - "Science & Energy" tags: - "climate" - "cybersecurity" - "disaster" - "warren buffett" --- # Warren Buffett Warns of Upcoming “Megacatastrophe” ![Famed investor Warren Buffett warned in his annual letter of a "megacatastrophe," which he said will cause unprecedented havoc.]() *\Image: Wikimedia/Jon Christian\* ## Megacatastrophe Famed investor Warren Buffett warned in his [annual letter]() of a "megacatastrophe," which he said will cause unprecedented havoc not just to victims but to the financial world as well. "A major catastrophe that will dwarf hurricanes Katrina and Michael will occur – perhaps tomorrow, perhaps many decades from now," the Berkshire Hathaway CEO wrote. "'The Big One' may come from a traditional source, such as a hurricane or earthquake, or it may be a total surprise involving, say, a cyber attack having disastrous consequences beyond anything insurers now contemplate." ## The Big One Beyond speculating that the the "big one" could be an extreme weather event or a massive cybersecurity breach, Buffett deferred specifics to the idea that the world needs to be prepared for a civilization-shaking catastrophe — except to argue that such a disaster is inevitable. *Business Insider*, though, [dug into the concept]() of the "Big One" by digging up a 2015 [*New Yorker* essay]() in which science journalist Kathryn Shultz wrote that the "hand of a geological clock is somewhere in its slow sweep," and that "seismologists are looking at their watches, wondering how long we have, and what we will do, before geological time catches up to our own." ## Next Day However, Buffett remained optimistic about Berkshire Hathaway's outlook after disaster strikes. "When such a mega-catastrophe strikes, we will get our share of the losses and they will be big – very big," he wrote. "Unlike many other insurers, however, we will be looking to add business the next day." **READ MORE:** [Warren Buffett warns of natural or human-made 'megacatastrophe,' and says our losses will be huge]() \[*Business Insisder*\] ***More on Warren Buffett:*** [Elon Musk Says Denial of Climate Change is 'Fraud']() ## Author I'm responsible for editing, assigning, and scouting at Futurism, as well as occasionally writing for the site. That work involves keeping an eye on a wide range of narratives and issues, but over the past few years I've become increasingly interested in how AI is shaping the future of media, the web, and information itself. My day-to-day often involves collaborating on reporting and commentary projects bylined by my colleagues, but I try to find time to do my own reporting as well; stories I've broken for Futurism have been cited by publications including the New York Times, the Washington Post, the New Yorker, Wired, Ars Technica, New York Magazine, the Columbia Journalism Review, Bloomberg, and more. I grew up in Southern Vermont and attended Vanderbilt University. Prior to Futurism, I contributed to outlets including the Boston Globe, Vice, Wired, Slate, the Atlantic, the Outline, Ars Technica and more, and did stints in farming and food service. I currently live in Brooklyn, New York, and in my free time I enjoy pinball, word games, cycling, running, and music production. ### Author social links [Bluesky]()