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Arnold Schwarzenegger has named US financial heavyweight Warren Buffett as his senior economic adviser.

Warren Buffett

Arnold Schwarzenegger has named US financial heavyweight Warren Buffett as his senior economic adviser as the Austrian-born actor prepares for a high-profile run for California governor.

The announcement pairs a movie star completely untested in politics with a Wall Street sage who is the world's second richest man.

Schwarzenegger says Warren Buffett is truly a giant in the world of finance, and will be a huge help to him as they work to strengthen California's economy.

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