The billionaire investor said he agrees with Sanders in certain areas, including the influence of money in politics, as well as income inequality. "[Sanders] is bothered by the fact that, in a country with a $56,000 GDP per capita so many people are poor. ... He would like to do something about that."

"What I like about Bernie Sanders is he'll say exactly what he believes. He is not tailoring his message week by week. You'll find with some of the candidates that they shift around, or they don't answer the question. With Bernie, you know exactly what he thinks," Buffett told CNBC's " Squawk Box " on Monday.

"Bernie has a tendency to demonize institutions and he thinks the solutions would be simpler, and he would turn the system somewhat upside down."



Buffett made his remarks a day ahead of Super Tuesday, when 12 states and one U.S. territory are scheduled to hold presidential contests.

On the Republican side, Buffett said everything could come down to the convention, scheduled for July. "If the tally tomorrow is such that [Donald] Trump has 40 percent of the delegates that have been picked, … it could go to the convention. We'll find out."

Trump is the current GOP front-runner after winning the New Hampshire and South Carolina primaries, as well as the Nevada caucus. On the Democratic side, former Secretary of State Clinton gained momentum against Sanders on Saturday, after tallying a decisive in the South Carolina primary.