Billionaire Warren Buffett says he's confident Hillary Clinton will run for president and win

Billionaire Warren Buffett says he's confident Hillary Rodham Clinton will run for president and win the job.

Buffett was speaking Tuesday at Fortune magazine's Most Powerful Women conference in Laguna Niguel, California.

Buffett is a Democrat who supported both Clinton and President Barack Obama in the 2008 election, so it's not surprising that he is supporting the former Secretary of State.

But Buffett said Tuesday that he would bet money on Clinton winning the 2016 presidential election.

Buffett is chairman and CEO of the Omaha, Nebraska, based Berkshire Hathaway conglomerate.