Warren Buffett comes fifth among the top richest man in the world with his highest earnings. He is the chairman, CEO, and the largest shareholder of a multinational conglomerate company named Berkshire Hathway.
Warren Buffett is one of the world’s wealthiest men and also the most influential philanthropists of all time, Buffett does not really need an introduction.
He is the chairman, CEO, and the largest shareholder of a multinational conglomerate company named Berkshire Hathaway, which is headquartered in Omaha.
He is much respected by his close ones and the world alike for his personal moderation and compliance to ethical principles when it comes to successful business management. He is called the ‘Oracle of Omaha’, Buffett was raised from scratch to become one of the richest men in the World through his hard work and eager sense of investing.
He used to sell candles and soft drinks door to door and started showing his financial abilities from an early. Since he was a teen he began investing and by the age of 20 had saved almost $10,000 dollars.
He has great business understanding and he started his career as a stock broker. Warren Buffett acquired a lot of wealth by developing his own investment principles; he was already a millionaire by the time he was in his early thirties. As his wealth grew, so did his desire to give back to society—he is an influential philanthropist and has decided to give away a significant portion of his wealth to charity.
Warren Buffett Childhood and Early Life:
Warren Buffett was born on 30 August 1930 to a father Howard who was a four-term U.S. congressman and to a mother Leila Buffett. He was raised along with his two sisters.
He started his education at the Rose Hill Elementary school and after shifted to Alice Deal Junior High School. In 1947, Buffett completed his graduation from Woodrow Wilson High School.
Since his childhood, he had a good business understanding as he used to sell chewing gums and soft drinks. He got involved in a number of money-making ventures as a teenager and also started saving and investing his money.
In 1947, Warren joined the Wharton School of the University of Pennsylvania where he studied for two years, and to complete his graduation with a Bachelor of Science in Business Administration he shifted to the University of Nebraska Lincoln.
In 1951, for earning a Master of Science in Economics Warren Buffett joined Columbia Business School. There he got the chance to attend classes taught by Benjamin Graham and David Dodd.
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Warren Buffett’s Career:
- Warren Buffett worked at his father’s company, Buffett-Falk & Co. from 1951 to 1954, as an investment salesman. By the age of 20, he had already amassed savings worth almost $10,000 in 1950 — this showed what an astute investor he was.
- He was appointed at a starting salary of $12,000 a year at Benjamin Graham’s partnership in 1954. His boss was a difficult man to work with and expected strict adherence to conventional rules of investing which Buffett’s young mind questioned.
- Benjamin Graham retired and closed his partnership in 1956. By this time Buffett had a large amount of personal savings with which he opened Buffett Partnership Ltd., an investment partnership in Omaha.
- He started operating several other partnerships and by the end of the decade, he had seven partnerships operating. He became a millionaire in 1962, as a result of his earnings from all his partnerships.
- He merged all the partnerships into one and invested in a textile manufacturing firm called Berkshire Hathaway. He began purchasing the shares of Berkshire Hathaway aggressively during the early 1960s and eventually took over the control of the company.
- During the late 1960s, he shifted the business from textile into the insurance sector and by 1985, the last of the textile mills under Berkshire Hathaway had been sold off.
- Berkshire Hathaway purchased a 12% stake in Salomon Inc. in 1987, and became its largest shareholder; Buffett became its director. Following a scandal in 1990, John Gutfreund the CEO of Salomon Brothers left the company 1991. Buffett took over as chairman till the crisis passed.
- Buffett began buying stocks in Coca-Cola Company in 1988, eventually purchasing up to 7% of the company for $1.02 billion. It would prove to be one of Berkshire’s best-ever investments.
- He entered in $11 billion worth of forwarding contracts to deliver U.S. dollars against other currencies in 2002. He had earned over $2 billion by April 2006.
- In June 2006, Warren Buffett made an announcement that he would be gradually giving away 85% of his Berkshire holdings to five foundations, the largest contribution of which would go to the Bill and Melinda Gates Foundation.
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- He became the richest person in the world in 2008, with a total net worth estimated at $62 billion by Forbes, overtaking Bill Gates who had been the No.1 on the Forbes list for the past 13 years. The very next year, Gates regained the first position and Buffett moved to second place.
- Buffett joined the Gates Foundation’s board but did not plan to be actively involved in the foundation’s investments. Buffett announced his resignation as a trustee of the Gates Foundation on June 23, 2021.
- Aside from countless television appearances on various news programs, Buffett has appeared in numerous films and TV programs, both documentary, and fiction. Some film and television cameos he has made include Wall Street: Money Never Sleeps (2010), The Office (U.S.), All My Children, and Entourage (2015). He has been a guest 10 times on Charlie Rose and was the subject of the HBO documentary feature Becoming Warren Buffett (2017) and the BBC production The World’s Greatest Money Maker (2009).
Warren Buffett’s Awards and Recognition:
- Warren Buffett was presented with the Presidential Medal of Freedom by President Barack Obama in 2011.
- He is the chairman and CEO of Berkshire Hathaway and ranks among the world’s wealthiest people. Considered to be the most successful investor of the 20th century, he is also the biggest philanthropist of our times and had pledged to donate most of his fortunes to social causes.
Warren Buffet’s Personal Life:
In 1952, Warren Buffett married Susan Thompson. They both have three children together but in 1977 Susan left him for pursuing her own career and also started living separately. The couple never got divorced and remained legally married till Susan’s death in 2004.
After Buffetts’s wife left him he met Astrid Menks they both dated for a long time and in 2006 they both got married. In the year 2012 Buffett was diagnosed with prostate cancer and successfully completed his treatment.
Warren believes in giving back to society and that’s why decided to give away the major part of his income to charity, 83% of his income goes to the Bill & Melinda Gates Foundation.
Warren Buffett’s Networth:
Warren Buffett’s estimated net worth in 2022 is $114 Billion.
Warren Buffett is one of the richest people in the world and arguably the best investor of all time.
Warren Buffett is considered to be the most famous and successful investor in history. If you had invested $10,000 with Warren Buffett in 1966, today you would have over $160 million! That same $10,000 invested in the S&P would be $140,000.
Warren Buffett has pledged to give away 99% of his net worth to charity before he dies. A large portion of that money will go to Bill Gates’ foundation. Buffett’s philanthropy has inspired other billionaires to pledge at least 50% of their net worth to charity in their lifetimes as well, a truly remarkable accomplishment.