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Warren Buffett

Who Is Warren Buffett?

Warren Buffett demonstrated keen business abilities at a young age. He formed Buffett Partnership Ltd. in 1956, and by 1965 he had assumed control of Berkshire Hathaway. Overseeing the growth of a conglomerate with holdings in the media, insurance, energy and food and beverage industries, Buffett became one of the world's richest men and a celebrated philanthropist.

Warren Edward Buffett was born on August 30, 1930, in Omaha, Nebraska. Buffett's father, Howard, worked as a stockbroker and served as a U.S. congressman. His mother, Leila Stahl Buffett, was a homemaker. Buffett was the second of three children and the only boy. He demonstrated a knack for financial and business matters early in his childhood: Friends and acquaintances have said the young boy was a mathematical prodigy who could add large columns of numbers in his head, a talent he occasionally demonstrated in his later years.

Buffett often visited his father's stock brokerage shop as a child and chalked in the stock prices on the blackboard in the office. At 11 years old he made his first investment, buying three shares of Cities Service Preferred at $38 per share. The stock quickly dropped to only $27, but Buffett held on tenaciously until it reached $40. He sold his shares at a small profit but regretted the decision when Cities Service shot up to nearly $200 a share. He later cited this experience as an early lesson in patience in investing.

First Entrepreneurial Venture

By the age of 13, Buffett was running his own businesses as a paperboy and selling his own horseracing tip sheet. That same year, he filed his first tax return, claiming his bike as a $35 tax deduction. In 1942 Buffett's father was elected to the U.S. House of Representatives, and his family moved to Fredricksburg, Virginia, to be closer to the congressman's new post. Buffett attended Woodrow Wilson High School in Washington, D.C., where he continued plotting new ways to make money. During his high school tenure, he and a friend purchased a used pinball machine for $25. They installed it in a barbershop, and within a few months, the profits enabled them to buy other machines. Buffett owned machines in three different locations before he sold the business for $1,200.

Buffett enrolled at the University of Pennsylvania at the age of 16 to study business. He stayed two years, moved to the University of Nebraska to finish up his degree, and emerged from college at age 20 with nearly $10,000 from his childhood businesses.

In 1951 he received his master's degree in economics at Columbia University, where he studied under economist Benjamin Graham and furthered his education at the New York Institute of Finance.

Influenced by Graham's 1949 book, The Intelligent Investor , Buffett sold securities for Buffett-Falk & Company for three years, before working for his mentor for two years as an analyst at Graham-Newman Corp.

Berkshire Hathaway

In 1956 Buffet formed the firm Buffett Partnership Ltd. in his hometown of Omaha. Utilizing the techniques learned from Graham, he was successful in identifying undervalued companies and became a millionaire. One such enterprise Buffett valued was a textile company named Berkshire Hathaway. He began accumulating stock in the early 1960s, and by 1965 he had assumed control of the company.

Despite the success of Buffett Partnership, its founder dissolved the firm in 1969 to focus on the development of Berkshire Hathaway. He phased out its textile manufacturing division, instead expanding the company by buying assets in media ( The Washington Post ), insurance (GEICO) and oil (Exxon). Immensely successful, the "Oracle of Omaha" even managed to spin seemingly poor investments into gold, most notably with his purchase of scandal-plagued Salomon Brothers in 1987.

Following Berkshire Hathaway's significant investment in Coca-Cola, Buffett became director of the company from 1989 until 2006. He has also served as director of Citigroup Global Markets Holdings, Graham Holdings Company and The Gillette Company.

Later Activity and Philanthropy

In 2012 Buffett disclosed that he had been diagnosed with prostate cancer. He began undergoing radiation treatment in July, and successfully completed his treatment in November.

The health scare did little to slow the octogenarian, who annually ranks near the top of the Forbes world billionaires list. In February 2013 Buffett purchased H. J. Heinz with private equity group 3G Capital for $28 billion. Later additions to the Berkshire Hathaway stable included battery maker Duracell and Kraft Foods Group, which merged with Heinz in 2015 to form the third-largest food and beverage company in North America.

In 2016 Buffett launched Drive2Vote, a website aimed at encouraging people in his Nebraska community to exercise their right to vote, as well as to assist in registering and driving voters to a polling location if they needed a ride.

A vocal supporter of Democratic presidential nominee Hillary Clinton , whom he’d endorsed in 2015, Buffett also challenged the Republican nominee, Donald Trump , to meet and share their tax returns. "I will meet him in Omaha or Mar-a-Lago or, he can pick the place, anytime between now and election, he said at an August 1 rally in Omaha. "I'll bring my return, he'll bring his return. We're both under audit. And believe me, nobody's going to stop us from talking about what's on those returns." Trump did not accept the offer, though his refusal to share his returns ultimately did not prevent his election to the presidency in 2016.

In May 2017 Buffett revealed that he had begun selling some of the approximately 81 million shares he owned in IBM stock, noting that he did not value the company as highly as he did six years earlier. Following another sale in the third quarter, his stake in the company dropped to about 37 million shares. On the flip side, he increased his investment in Apple by 3 percent and became Bank of America's largest shareholder by exercising warrants for 700 million shares. Early the following year, he added more Apple shares to make it Berkshire Hathaway's largest common stock investment.

Between 2006 and 2017, Buffett gave away close to $28 billion in charity, according to a report by USA Today .

Healthcare Venture

On January 30, 2018, Berkshire Hathaway, JPMorgan Chase and Amazon delivered a joint press release in which they announced plans to team up and form a new healthcare company for their U.S. employees.

According to the release, the company would be "free from profit-making incentives and constraints" as it tried to find ways to cut costs and improve the overall process for patients, with an initial focus on technology solutions.

Calling the swelling costs of healthcare a "hungry tapeworm on the American economy," Buffett said, "We share the belief that putting our collective resources behind the country’s best talent can, in time, check the rise in health costs while concurrently enhancing patient satisfaction and outcomes."

In March outlets reported that Berkshire Hathaway's HomeServices of America Inc., the second-largest residential brokerage owner in the U.S., was set to take more steps toward the top spot, held by Realogy's NRT LLC. Buffett said he "barely noticed" when Berkshire Hathaway originally acquired HomeServices, then part of MidAmerican Energy Holdings Co., back in 2000.

Buffett returned to the news in spring 2020 with the announcement that Berkshire Hathaway had dumped its holdings in the "big four" airlines — Southwest, American, Delta and United — over concerns that the industry would never fully recover from the coronavirus pandemic.

Personal Life

In 2006 Buffett, at age 76, married his longtime companion Astrid Menks.

Buffett was previously married to his first wife Susan Thompson from 1952 until her death in 2004, although the couple separated in the 1970s. He and Susan had three children: Susan, Howard and Peter.

QUICK FACTS

• Birth Year: 1930
• Birth date: August 30, 1930
• Birth State: Nebraska
• Birth City: Omaha
• Birth Country: United States
• Gender: Male
• Best Known For: Known as the "Oracle of Omaha," Warren Buffett is an investment guru and one of the richest and most respected businessmen in the world.
• Business and Industry
• Astrological Sign: Virgo
• University of Pennsylvania
• Woodrow Wilson High School
• University of Nebraska
• Columbia University

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CITATION INFORMATION

• Article Title: Warren Buffett Biography
• Author: Biography.com Editors
• Website Name: The Biography.com website
• Url: https://www.biography.com/business-leaders/warren-buffett
• Access Date:
• Publisher: A&E; Television Networks
• Last Updated: May 27, 2021
• Original Published Date: April 3, 2014
• You can't make a baby in a month if you get nine women pregnant.
• My kids are going to carve out their own place in this world, and they know I'm for them whatever they want to do.
• It's a lot easier to buy things sometimes than it is to sell them.
• Rule number one: Never lose money. Rule number two: Never forget rule number one.
• I made my first investment at age 11. I was wasting my life up until then.
• It is impossible to unsign a contract, so do all your thinking before you sign.
• It's easier to stay out of trouble than it is to get out of trouble.
• You should invest like a Catholic marries—for life.
• Wall Street is the only place that people ride to in a Rolls-Royce to get advice from those who take the subway.
• If calculus or algebra were required to be a great investor, I'd have to go back to delivering newspapers.
• Price is what you pay. Value is what you get.
• The dumbest reason in the world to buy a stock is because it's going up.
• Never ask a barber if you need a haircut.
• Risk comes from not knowing what you're doing.
• You couldn't advance in a finance department in this country unless you taught that the world was flat.
• After all, you only find out who is swimming naked when the tide goes out.
• You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right.
• Someone's sitting in the shade today because someone planted a tree a long time ago.
• I feel great... and my energy level is 100 percent.

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• Warren Buffett

Who Is Warren Buffett? How Did He Make His Fortune?

From selling soft drinks to making billions of dollars

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• Who Is Warren Buffett? How Did He Make His Fortune? CURRENT ARTICLE
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• Buffett's Best Buys
• Why Did Buffett Invest Heavily in Coca-Cola?
• Why Doesn't Buffett Split Berkshire Hathaway Stock?
• The Best Books on Warren Buffett
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Warren Edward Buffett, the legendary value investor , turned an ailing textile mill into a financial engine that powered what would become the world’s most successful holding company .

Known as the " Oracle of Omaha ” for his investment prowess, Buffett has amassed a personal fortune in excess of $130 billion, according to Forbes. He inspires legions of loyal fans to make a yearly trek to Omaha, Neb., for an opportunity to hear him speak at Berkshire’s annual meeting , an event ironically dubbed “Woodstock for Capitalists.”

Key Takeaways

• Warren Buffett started investing at a young age, buying his first stock at age 11 and his first real estate investment at age 14.
• Buffett studied under the legendary value investor Benjamin Graham while pursuing a business degree at Columbia University (Harvard had rejected him).
• Buffett teamed with Charlie Munger to buy the ailing Berkshire Hathaway textile company, later to be used as a vehicle to acquire other businesses and make investments.
• Buffett is a true value investor, buying underpriced but solid companies and holding them for the long term.
• Buffett always has been a philanthropist and has pledged the vast amount of his personal fortune of more than $100 billion to the Bill & Melinda Gates Foundation upon his death.

Alison Czinkota / Investopedia

Buffett was born to Howard and Leila Buffett on Aug. 30, 1930, in Omaha, Neb. He was the second of three children, and the only boy. His father was a stockbroker and four-term U.S. congressman. Howard Buffett served nonconsecutive terms on the Republican ticket but espoused libertarian views.

Making money was an early interest for Warren, who sold soft drinks and had a paper route. When he was 14 years old, he invested the earnings from these endeavors in 40 acres of land, which he then rented for a profit. At his father's urging he applied to the University of Pennsylvania and was accepted at age 16. Buffett left that university after two years, transferring to the University of Nebraska.

Upon graduation his father once again convinced him of the value of education, encouraging him to pursue a graduate degree. Harvard rejected Buffett, but Columbia University accepted him. Buffett studied under Benjamin Graham , the father of value investing , and his time at Columbia set the stage for a storied career, albeit one with a slow start.

Upon graduation, Graham refused to hire Buffett, even suggesting that he avoid a career on Wall Street . The reason was that Graham himself had been rejected by Wall Street firms, which he believed was because he was Jewish. Thus, Graham made it a policy only to hire Jews for his Wall Street company. Buffett returned to Omaha to work at his father’s brokerage firm. He married Susan Thompson in 1952, and they started a family. After three years Graham had a change of heart and offered Buffett a job in New York.

Unlike his mentor Benjamin Graham, Buffett wanted to look beyond the numbers and focus on a company’s management team and its product’s competitive advantage in the marketplace when considering an investment.

Once in New York, Buffett had the chance to build on the investing theories he had learned from Graham at Columbia. Value investing, according to Graham, involved seeking stocks that were selling at an extraordinary discount to the value of the underlying assets, which he called the “ intrinsic value .” Buffett internalized the concept but had an interest in taking it a step further.

In 1956 he returned to Omaha, launched Buffett Associates, and later purchased a house. In 1962 he was 30 years old and already a millionaire when he joined forces with Charlie Munger , whom he first met in 1959. Their collaboration eventually resulted in the development of an investment philosophy based on Buffett’s idea of looking at value investing as something more than an attempt to wring the last few dollars out of dying businesses.

Along the way the pair purchased Berkshire Hathaway ( BRK.A ), a dying textile mill. What began as a classic Graham-style value play became a longer-term investment when the business showed some signs of life. Cash flows from the textile business were used to fund other investments. Eventually, the original business was eclipsed by the other holdings . In 1985 Buffett shut down the textile business but continued to use the name, eventually growing Berkshire Hathaway into a multi-billion-dollar holding company.

When Buffet first bought shares in Berkshire Hathaway in 1962, the struggling textile firm was facing low-cost competition that threatened to push it under. Entranced by the stock's low cost compared to its book value and net working capital, he purchased a controlling interest in 1965. Shares were trading around $8 when Buffet bought the stock, rising to almost $20 in the late 1960s, when he became CEO. As of July 2024, shares in Berkshire Hathaway Class A stock trade at more than $620,000.

How did he do it? Buffet used the textile company's profits to buy other companies, including life insurance firm National Indemnity. The useful thing about life insurance companies, Buffett found, is the float: the capital available after premiums have been paid but before claims are paid out. Buffett could use this float to invest further, buying securities and other businesses that could generate more money to be invested in more firms and more shares. He closed his investment partnerships by 1969, offering Berkshire Hathaway shares in lieu of cash, and bought insurance companies as wholly owned subsidiaries under the Berkshire umbrella.

He bought See's Candy in 1972, a purchase that generated more cash flow for investing. He also invested in American Express, Bank of America, Coca-Cola, and Apple, among many others, focusing on solid brands and businesses with a secure economic moat. Buffett bought for the long haul, preferring to buy and hold his investments, which tended to terrifically appreciate in value over time. He chooses firms with innovative, shareholder-focused management and high profit margins, seeking solid fundamentals when they're available at a discount.

Buffett closed the last Berkshire Hathaway textile mill in 1985, growing the company steadily as a conglomerate instead. As of July 2024, Berkshire Hathaway owns more than 65 companies outright, with a market cap of more than $896 billion.

What do you do with your money when you are the world’s most successful investor? If you’re Warren Buffett, you give it away. Buffett stunned the world in June 2006 when he announced the donation of the vast majority of his wealth to the Bill & Melinda Gates Foundation , which focuses on world health concerns, U.S. libraries, and global schools, among other issues. It is one of the world’s largest transparent charities.

Buffett’s donations will come in the form of Class B shares of Berkshire Hathaway stock. His total donation to the Gates Foundation is 10 million shares. It will be given out in 5% increments until Buffett’s death or until the foundation fails to meet the spending stipulation or the stipulation that either Bill or Melinda Gates remains actively involved in the foundation’s activities. Buffett’s 2006 donation was 500,000 shares, valued at approximately $1.5 billion.

In June 2022 the foundation’s CEO, Mark Suzman, sent an email to the employees of the Bill & Melinda Gates Foundation. The email was also shared on the foundation’s website that Buffett’s contributions since 2006 have totaled more than $36 billion. The Wall Street Journal reported that his 2024 donation of 9,930,357 shares of Berkshire Hathaway stock amounted to $4 billion. Buffett expects stock price appreciation to increase that amount over time.

In 2024, another stock donation of 695,122 shares was evenly divided among three charities run by Buffett's children. An additional 993,035 shares went to a foundation run in honor of his first wife.

While the enormous size of the donation to the Gates Foundation was certainly a big surprise, Buffett’s charitable endeavors are nothing new. He’d been giving money away for 40 years through the Buffett Foundation, eventually renamed the Susan Thompson Buffett Foundation, which has one purpose: It offers college scholarships to low-income students in Nebraska.

Buffett always planned to give the bulk of his wealth to charity but initially insisted that that would occur posthumously. The change of heart is quintessential Buffett—rational, decisive, maverick, and blazing a path all his own. “I know what I want to do, and it makes sense to get going,” he famously said upon making the change.

Buffett's Investing Strategy

Buffett’s investment philosophy is based on the principle of acquiring stock in what he believes are well-managed, undervalued companies. When he makes a purchase, his intention is to hold the securities indefinitely. Coca-Cola, American Express, and Costco all met his criteria and have remained in Berkshire Hathaway’s portfolio for many years.

In many cases he purchased the companies outright, continuing to let their management teams handle the day-to-day business. A few of the better-known firms that fit into this category include See’s Candies, Fruit of the Loom, Dairy Queen, the Pampered Chef Ltd., Heinz, and GEICO.

Buffett’s mystique remained intact until technology stocks became popular. As a resolute technophobe, Buffett sat out the incredible run-up in technology stocks during the late 1990s. Sticking to his guns and refusing to invest in companies that didn’t meet his mandate, Buffett earned the scorn of Wall Street experts and was written off by many as a man whose time had passed.

The tech wreck that occurred when the dotcom bubble burst bankrupted many of those experts. Buffett’s profits doubled.

Despite a net worth measured in billions, Warren Buffett is legendarily frugal. He still lives in the five-bedroom house he bought in 1958 for $31,500, drinks Coca-Cola, and dines at local restaurants, where a burger or a steak is his preferred table fare. For years he eschewed the idea of purchasing a corporate jet. When he finally acquired one, he named it the Indefensible—public recognition of his criticism about money spent on jets.

Buffett married Susan Thompson in 1952. They separated in 1977 but remained married until her death in 2004. They had three children, Susie, Howard, and Peter. Thompson introduced her husband to Astrid Menks, a waitress, and Buffett and Menks began living together in 1978. They were married in August 2006.

How Did Warren Buffett Amass His Fortune?

Buffett’s fortune was built by highly researched and timely purchases of undervalued stocks and companies, which he would then hold for the long term. For most of the companies he bought, he let existing management remain in place, as they had obviously done a good enough job to make their company attractive to Buffett in the first place. He has been in stocks for the long haul, holding companies such as Coke and American Express for decades. (He still owns both.)

What Are Some of Buffett’s Pearls of Wisdom?

"If you aren’t willing to hold a stock for 10 years, don’t even think about holding it for 10 minutes," wrote Buffett in 1996 in a letter to Berkshire Hathaway shareholders. Another famous quote, part of a 2008 opinion piece in the New York Times , is, "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful.” Indeed, Buffett is well known for his many investing aphorisms, which always come back to the simple rules of value investing.

What Does Warren Buffett Plan to Do With His Fortune?

The simple answer is give it away, which he plans to do by making mega-donations, primarily to the Bill & Melinda Gates Foundation, as he has established a great rapport with both of them and shares and respects their philanthropic causes, such as world health and women’s rights. Warren Buffet is legendarily generous in giving to causes he deems worthy, so it is no surprise he would give away the vast majority of his wealth to causes in need of funding.

The future looks to hold an increase in the amount of money that Buffett will continue to give. As he told BBC News in 2006: “I am not an enthusiast of dynastic wealth, particularly when the alternative is six billion people having much poorer hands in life than we have, having a chance to benefit from the money.”

Buffett has made his fortune by relying on the time-tested rules of value investing, meaning finding high-quality companies at fair market valuations. He then holds these investments for the long term, some indefinitely, always allowing the power of compounding to work its magic.

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Warren Buffett

What is Warren Buffett known for?

What is warren buffett's primary investment vehicle, what charities does warren buffett donate money to, when was warren buffett awarded the presidential medal of freedom.

Warren Buffett (born August 30, 1930, Omaha, Nebraska, U.S.) is an American businessman and philanthropist, widely considered the most successful investor of the 20th and early 21st centuries, having defied prevailing investment trends to amass a personal fortune of more than $100 billion.

Known as the “Oracle of Omaha,” Buffett was the son of U.S. Rep. Howard Homan Buffett from Nebraska . After graduating from the University of Nebraska (B.S., 1950), he studied with Benjamin Graham at the Columbia University School of Business (M.S., 1951). In 1956 Buffett returned to Omaha and in 1965 took majority control of the textile manufacturer Berkshire Hathaway Inc. , turning it into his primary investment vehicle. From the 1960s through the ’90s the major stock averages rose by roughly 11 percent annually, but Berkshire Hathaway’s publicly traded shares gained about 28 percent per year. Though Buffett’s success with Berkshire Hathaway made him one of the world’s wealthiest men, he eschewed lavish spending and criticized governmental policies and taxation that favoured the rich over the middle or lower classes.

In June 2006 Buffett announced that he planned to donate more than 80 percent of his wealth to charitable foundations ; in 2020 he raised that amount to 99 percent. The main recipient was the Bill & Melinda Gates Foundation —created by Microsoft founder Bill Gates and his then wife, Melinda —which focused on issues of world health and education ; Bill and Buffett had maintained a close friendship since the early 1990s. The other organizations receiving donations included those run by Buffett’s three children and the Susan Thompson Buffett Foundation, named for his late wife, which focused on women’s reproductive rights and funded college scholarship programs. In 2010 Buffett and the Gateses created the Giving Pledge, an invitation to other wealthy individuals to donate the majority of their fortune to charities.

During the subprime mortgage crisis of 2007–08, Buffett made a number of deals that, though questioned at the time, proved highly profitable. In September 2008 he invested $5 billion in the U.S.-based bank holding company Goldman Sachs Group, Inc. , and the following month Berkshire Hathaway purchased $3 billion in General Electric Company (GE) preferred stock. In November 2009 Buffett announced that Berkshire was buying the railroad company Burlington Northern Santa Fe Corporation for about $26 billion; the investment group already owned approximately 23 percent of the railroad. Berkshire Hathaway also had significant shareholdings in companies it did not control, including Coca Cola and Apple .

In 2011 Buffett was awarded the Presidential Medal of Freedom .

Warren Buffett

Real time net worth.

• Known as the "Oracle of Omaha," Warren Buffett is one of the most successful investors of all time.
• Buffett runs Berkshire Hathaway, which owns dozens of companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen.
• The son of a U.S. congressman, he first bought stock at age 11 and first filed taxes at age 13.
• He has promised to donate over 99% of his wealth. So far he has given some $60 billion, mostly through the Gates Foundation and his kids' foundations.
• In 2010, he and Bill Gates launched the Giving Pledge, asking other billionaires to commit to donating at least half of their fortune to charitable causes.

Forbes Lists

Rational people don't risk what they have and need for what they don't have and don't need. Warren Buffett

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Warren Buffett

• Born August 30 , 1930 · Omaha, Nebraska, USA
• Birth name Warren Edward Buffett
• The Oracle of Omaha
• Height 5′ 10″ (1.78 m)
• Warren Edward Buffett born in Omaha ( August 30, 1930 ). He developed an interest in business and investing in his youth, eventually entering the Wharton School of the University of Pennsylvania in 1947 before transferring and graduating from University of Nebraska-Lincoln at the age of 19. Buffett went on to enroll and graduate from Columbia University where he learned and eventually molded his investment philosophy around a concept pioneered by Benjamin Graham-value investing. He attended New York Institute of Finance to specialize his economics background and soon after began various business partnerships, including one with Graham. After meeting Charlie Munger, Buffett created the Buffett Partnership. His firm would eventually acquire a textile manufacturing firm called Berkshire Hathaway and assume its name to create a diversified holding company. Filmography : Buffett's work even earned him a glamorous foray into the movie business when he made a appearance in the 2015 movie 'Wall Street: Money Never Sleeps' (2010), 'The Billionaires' Pledge' (2012) and 'The Berkshire Apprentice' (2016). HBO recently created a documentary "Becoming Warren Buffett,"( January, 2017 ) which provides a fresh overview of the "Oracle of Omaha," the subject of a best-selling 'The Snowball' ( 2008 ) biography for which he also extensively cooperated. Directed by Peter Kunhardt, whose film subjects have included President Richard Nixon and media mogul Oprah Winfrey, the documentary was largely narrated by Buffett and contains interviews with people close to him, including his sisters, three children, Berkshire Vice Chairman Charlie Munger, and philanthropists Bill and Melinda Gates. - IMDb Mini Biography By: Jayanta Pramanik.
• Spouses Astrid Menks (August 30, 2006 - present) Susan Thompson (April 19, 1952 - July 29, 2004) (her death, 3 children)
• Children Howard Buffett Peter Buffett Susie Buffett
• Folksy humor
• Refered to as "Wizard of Omaha or Oracle of Omaha."
• Known for his clean business practices and advocacy of transparency and integrity in corporations.
• Always flies coach when traveling.
• He is a huge fan of the series Breaking Bad (2008) .
• According to Forbes, he became the world's richest person with an estimated net worth of $62 billion (2008).
• He still lives in the house in Omaha, Nebraska that he bought in 1958.
• It is better to be approximately right than precisely wrong.
• You only have to do a very few things right in your life so long as you don't do too many things wrong.
• Nothing sedates rationality like large doses of effortless money.
• Investors... should try to be fearful when others are greedy and greedy when others are fearful.
• [on raising taxes on the wealthiest people] If you give me a choice between taking $1000 from twenty million families or hitting 50,000 people who shuffle money around all day, I'll take it from the people who shuffle money.

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Warren Buffett just became the longest-serving CEO of an S&P company. Take a look inside his incredible life and career.

• Leslie Wexner, the CEO and founder of Victoria's Secret's parent company L Brands, recently announced that he would be stepping down after 57 years on the job. He had the longest tenure amongst any current CEO of an S&P company.
• With Wexner's departure, Warren Buffett is now the longest-tenured CEO in the S&P 500 . He's been the CEO of Berkshire Hathaway for 50 years.
• The distinction is particularly impressive given that the average tenure of a CEO was reported to be five years between 2015 and 2017. 
• Buffett's current net worth is estimated at $90 billion , according to Forbes.
• Take a look inside Buffett's incredible life and how he got to where he is today.
• Visit Business Insider's homepage for more stories .

In February 2020, Warren Buffett became the longest-tenured CEO of an S&P 500 company. With a net worth of $90 billion, he is also one of the richest people in the world, something he had been working towards for much of his almost-90-year life.

Buffett gained the title after Les Wexner, 82, of L Brands, the parent company of Victoria's Secret, stepped down as CEO . Wexner had held the position for 57 years.

Sycamore Partners had recently acquired a majority of Victoria's Secret stocks. Wexner and disgraced financier Jeffrey Epstein reportedly had a close relationship, attracting controversy in the months preceding his resignation.

Buffett has led Berkshire Hathaway for 50 years and amassed a massive fortune starting with business ventures in his teen years. 

Buffett was born in 1930 in Omaha, Nebraska.

The "Oracle of Omaha" was born to Howard and Leila Buffett. His father was a four-term US congressman from Nebraska and a stockbroker.

While most kids were playing stickball out in the street, Buffett was rubbing elbows with Wall Street's most powerful players from an early age.

At age 10, Buffett had his "road to Damascus" moment, on Wall Street.

During a visit to New York City, Buffett and his father joined At Mol, a Dutchman who was a member of the New York Stock Exchange , for lunch.

"After lunch, a guy came along with a tray that had all these different kinds of tobacco leaves on it," Buffett recalled. "He made a cigar for Mr. Mol, who picked out the leaves he wanted. And I thought this is it. It can't get any better than this. A custom-made cigar."

It was at that moment Buffett realized he would dedicate his life to making money.

Buffett caught the investing bug early. When he was 11 years old he purchased his first stock.

He bought three shares of Cities Services Preferred at $38 per share. The young Buffett held on to them despite a quick price drop, to $27 per share, but sold them as soon as they reached $40.

Buffett's small profit could have been tremendous if he had waited it out a little longer, as the price of Cities Services Preferred's stock ultimately soared to nearly $200 per share.

The experience imparted an important financial lesson, which has informed his investment decisions to this day: Buy and hold .

Buffett's hustle game was strong as a youth. While he was a high-school student he and a friend operated a lucrative pinball business. He also took on odd jobs like delivering newspapers and washing cars.

When Buffett was in high school he pitched the following business scheme to his friend Don Danley after he purchased a $25 used pinball machine :

"I bought this old pinball machine for 25 bucks, and we can have a partnership. Your part of the deal is to fix it up. And lookit, we'll tell Frank Erico, the barber, 'We represent Wilson's Coin-Operated Machine Company, and we have a proposition from Mr. Wilson. It's at no risk to you. Let's put this nickel machine in the back, Mr. Erico, and your customers can play while they wait. And we'll split the money."

The duo struck a deal with Erico and the machine was an immediate hit, raking in $4 bucks on the first night.

Rather than spending their earnings, the young partners reinvested it in more machines.

In a couple of months, Buffett was a pinball kingpin with several machines operating at barbershops across his town. Buffett sold the business for over $1,000 after a year.

In addition to the pinball business, Buffett undertook a number of odd business ventures during his childhood such as delivering newspapers, selling gum and soda, and washing cars.

Through his various business endeavors, Buffett amassed a small fortune by the time he was 16. In fact, he was so successful that he was reluctant to go to college.

He accumulated so much money as a teenager that he didn't see the point in accepting his offer of admission from the prestigious Wharton School of Business at the University of Pennsylvania.

But he ultimately gave in to the will of his father and went off to college, only to return to Nebraska two years later, at which point he attended the University of Nebraska.

After completing his undergraduate studies, Buffett moved to New York to attend Columbia's School of Business, where he met his mentor and future employer Benjamin Graham.

The catalyst for Buffett's decision to move to the Big Apple was a well-known Wall Street book titled, "The Intelligent Investor." Buffett, an avid reader, said he first picked up the book when he was 19, and its philosophy of "value investing" changed his life . 

The author of the book, Benjamin Graham, went on to become Buffett's professor at Columbia Business School. After he earned his master's degree in 1951, Buffett moved back to work for Buffett-Falk & Co., his father's brokerage firm in Omaha.

Buffett married his wife Susan Thompson in 1952. The two had an open marriage that lasted until her death in 2004.

In 1952, Buffett married Susan "Susie" Thompson. The couple had three children: Susan, Howard, and Peter.

Warren and Susie had a complicated relationship , to say the least. Although they remained married until Susan's death in 2004, they didn't live together for more than half of their marriage.

Susan Buffett left her husband when she was 45. She remained married, to Warren, but lived in San Francisco. The two remained close and spoke frequently on the phone and even went on vacations together. Ultimately it was Susie who set Warren up with Astrid Menks, a waitress who moved in with Buffett and then married him after Susie died.

Buffett moved back to New York City in 1954 after accepting a job with Benjamin Graham.

Graham offered Buffett a job in New York City so the family packed their bags and moved there from Omaha, Nebraska in 1954. Buffett worked for his mentor for two years as an analyst at Graham-Newman Corp., where he made $12,000 a year.

In 1956, Buffet started his own investment firm Buffett Partnership Limited, which ran for 13 years.

In the years that the firm was active, it generated over a hundred million in assets. The initial investment in the firm was a little over $100,000.

In 1969, Buffett closed the partnership and took on a leadership role with Berkshire Hathaway, a position he holds to this day.

Buffett started buying up shares of Berkshire Hathaway, a textile manufacturing firm, during the early 1960s and ultimately took complete control of the business.

The firm now offers investment services and is valued at $516 billion .

Throughout the early '80s, Buffett steadily grew his multimillion-dollar net worth and became a billionaire in 1986.

In 1982, Buffett's net worth stood at $376 million. It increased to $620 million in 1983.

And in 1986, at 56, Buffett became a billionaire , despite his humble $50,000 salary from Berkshire Hathaway.

Buffett bought over $1 billion in Coca-Cola stocks between 1988 and 1994.

Berkshire Hathaway currently owns about 10% of Coca-Cola , which amounts to $22 billion. Buffett is said to drink five cans of Coke a day, after having spent his early years drinking Pepsi.

In 2008, Buffett became the richest person in the world.

Forbes named Buffett as the richest person in the world in March 2008 with an estimated wealth of $65 billion. He dethroned Bill Gates who had held that spot for 13 years. Gates ranked third behind Buffett and Mexican billionaire Carlos Helu.

Gates regained his spot as the richest person the following year. Forbes currently ranks Jeff Bezos at the top of the list.

In 2010, Buffett and Bill Gates created the Giving Pledge, a group of some of the richest people in the world who have made a commitment to donate a majority of their wealth to charity.

Buffett's frugality is a trademark of his "brand ." Until very recently , the 89-year-old used a flip phone and prefers to travel on public transportation. But this does not mean Buffett is a stingy miser.

In 2019, he beat his own personal philanthropic record by donating $3.6 billion worth of Berkshire Hathaway stocks to five charities, including The Bill and Melinda Gates Foundation. 

In addition, Buffett and fellow billionaire Bill Gates agreed to donate at least half of their fortunes to charity when they created and signed the Giving Pledge .

Since 2010, over 150 people have made the pledge, including Facebook's Mark Zuckerberg.

Buffett was presented with the Presidential Medal of Freedom by President Obama in 2011 for his commitment to philanthropy.

The group honored that year also included cellist Yo-Yo Ma and Maya Angelou. President Obama called the recipients "some of the most extraordinary people in America and around the world."

In 2018, Buffett tried to invest in Uber but was unsuccessful. He was also outbid for an energy company in 2017.

Buffett's recent dealmaking efforts have run into a few roadblocks. He was outbid for the energy company Oncor in 2017. The Buffett-backed conglomerate Kraft Heinz  called off plans to merge with Unilever , a deal valued at $143 billion. Buffett tried and failed to invest $3 billion in Uber, in 2018 .

In his  company's annual letter in 2018 , Buffett lamented the fact that high stock valuations derailed nearly every investment idea the firm had in 2017.

The requirement of a sensible purchase price "proved a barrier to virtually all deals we reviewed in 2017, as prices for decent, but far from spectacular, businesses hit an all-time high. Indeed, the price seemed almost irrelevant to an army of optimistic purchasers," he said. 

In 2018, Buffet promoted two vice-chairs to Berkshire Hathaway's board. This fueled speculation that the two men might potentially succeed him one day.

In January 2018, Buffett promoted two senior executives — Greg Abel and Ajit Jain — to Berkshire's board of directors.

Abel was appointed as Berkshire's vice chairman for non-insurance business operations, and Jain as vice chairman, insurance operations. Buffett described the appointments as "part of a movement toward succession," providing the clearest hint of the pool of candidates he's considering to replace himself.  

Abel and Jain each made $18 million in 2018 after they were appointed to the board.

This post was originally authored by Frank Chaparro.

• Main content

Warren Buffett

Warren Edward Buffett (born 30 August 1930 ) is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway . He is one of the most successful investors in the world and has a net worth of over $113 billion as of June 2022, making him the world's fifth-wealthiest person .

• 1.1 Letters to Shareholders (1957 - 2012)
• 1.2 The Superinvestors of Graham-and-Doddsville (Fall, 1984)
• 1.3 Quotes from the press
• 1.4 Rules for success
• 3.1 David Cay Johnston; How The One Percent Enrich Themselves at Government Expense (Jun 23, 2009)
• 4 External links

• Interview in Forbes magazine (1 November 1974)
• 1999 Berkshire Hathaway Annual Meeting, as quoted in The Tao of Warren Buffett by Mary Buffett and David Clark p. 145
• On being dispassionate and patient in investments, in an interview in Forbes magazine (1 November 1974); he is contrasting soft-drinks to intoxicating beverages in this example; Buffett eventually became a major investor in Coca-Cola.
• As quoted in "Should You Leave It All to the Children?" by Richard I. Kirkland Jr, in Fortune (29 September 1986)
• As quoted in Barbarians at the Gate : The Fall of RJR Nabisco (1989), by Bryan Burrough and John Helyar
• Statement of January 1991, as quoted in Of Permanent Value: The Story of Warren Buffett (2007) by Andrew Kilpatrick [1]
• As quoted in Buffett: The Making of an American Capitalist (1995), by Roger Lowenstein, p. 77
• On the game of bridge, as quoted in Forbes (2 June 1997); also quoted in The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy (2000), p. 112
• As quoted in Warren Buffett Speaks: Wit and Wisdom from the World's Greatest Investor (1997) by Janet C. Lowe, pp. 165-166
• 1997 Berkshire Hathaway Annual Meeting, as quoted in Of Permanent Value : The Story of Warren Buffett , by Andrew Kilpatrick, Vol. 2 (2007), p. 1615
• As quoted in The Money Adventure (1998) by Egbert Sukop, p. 128
• 1998 Berkshire Hathaway Annual Meeting, as quoted in The Essays of Warren Buffett : Lessons for Corporate America (1998), p. 92
• 1998 Berkshire Hathaway Annual Meeting, quoted in Wait: The Art and Science of Delay (2012) by Frank Partnoy, p. 177
• As quoted in Homespun Wisdom from the "Oracle of Omaha" by Amy Stone in BusinessWeek (5 June 1999)
• As quoted in "Wisdom from the 'Oracle of Omaha'" by Amy Stone in BusinessWeek (5 June 1999)
• 1999 Berkshire Hathaway Annual Meeting, as quoted in "Why Won't Buffett Invest in Tech Stocks?" at Motley Fool (6 March 2000)
• Quoted in The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy (2000), p. 112, and Think, Act, and Invest Like Warren Buffett: The Winning Strategy to Help You Achieve Your Financial and Life Goals (2012), p. 22
• (August 2, 2018)" Warren Buffett: 2004 Berkshire Hathaway Annual Meeting Part 1 ". Hioim, YouTube . (quote at 2:24:01 of 2:33:25. This is often quoted online as: "If you invested in a very low cost index fund — where you don't put the money in at one time, but average in over 10 years — you'll do better than 90% of people who start investing at the same time.")
• Interview with Lou Dobbs on CNN (25 May 2005)
• Buffett has made similar statements in other interviews:
• As quoted in "In Class Warfare, Guess Which Class Is Winning" by Ben Stein, in The New York Times (26 November 2006)
• As quoted in Corporate Survival: The Critical Importance of Sustainability Risk Management (2005) by Dan Robert Anderson, p. 138
• As quoted in "The Heresy That Made Them Rich" by Joseph Nocera, in The New York Times (29 October 2005)
• To Barack Obama , as quoted in The Audacity of Hope: Thoughts on Reclaiming the American Dream (2006), Ch. 5
• Speaking at a political fundraiser for Hillary Rodham Clinton in New York, as quoted in Henry Goldman, "Buffett, at Clinton Fund-Raiser, Says Congress Favors the Rich" in Bloomberg (27 June 2007)
• As quoted in "Bringing Back Bridge" at CBS News (16 February 2008)
• As quoted in "My $650,100 Lunch with Warren Buffett" by Guy Spier, in TIME (30 June 2008)
• Interview with Charlie Rose , on PBS (1 October 2008), also reported in "Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview" at CNBC (1 October 2008)
• In a panel discussion after the premier of the 2008 documentary I.O.U.S.A. . Panel at the Premier, 0:05:42 ff. , DVD extras, I.O.U.S.A. (2008)
• As quoted in "Rules That Warren Buffett Lives By" by Stephanie Loiacono at Yahoo Finance (23 February 2010)
• " My Philanthropic Pledge " at The Giving Pledge (2010)
• " My Philanthropic Pledge " at the The Giving Pledge (2010)
• Interview on CNBC (1 July 2011)
• "Buffett on Bridge" at Buffetcup.com (2013)
• (February 25, 2019)" CNBC's Becky Quick interviews Warren Buffett (2/25/19) ". CNBC Television, YouTube . (quote at 48:00 of 2:00:00)
• (May 4, 2019)" Warren Buffet and Charlie Munger chair the 2019 Berkshire Hathaway Shareholders Metting (FULL) ". Yahoo Finance, YouTube . (quote at 5:03:03 of 7:10:07)
• (September 30, 2021)" Warren Buffett Interview: Investing under Pandemics | 2020-02-24 ". Buffett Online,YouTube . (quote at 10:50 of 2:04:02)

Letters to Shareholders (1957 - 2012)

• Second annual letter to Limited Partners (1957)
• 2 November 1959
• 29 March 1974
• 1978 Chairman's Letter
• 1979 Chairman's Letter
• 1981 Chairman's Letter
• 1982 Chairman's Letter
• 1985 Chairman's Letter
• 1987 Chairman's Letter
• 1988 Chairman's Letter
• 1989 Chairman's Letter
• 1990 Chairman's Letter
• 1991 Chairman's Letter
• 1992 Chairman's Letter
• 1993 Chairman's Letter
• 1994 Chairman's Letter
• 1995 Chairman's Letter
• 1996 Chairman's Letter
• 1997 Chairman's Letter
• 1998 Chairman's Letter
• Berkshire Hathaway Inc.: An Owner's Manual (1999)
• 1999 Chairman's Letter
• 2000 Chairman's Letter
• 2001 Chairman's Letter
• 2003 Chairman's Letter
• 2004 Chairman's Letter
• 2005 Chairman's Letter
• 2006 Chairman's Letter
• 2007 Chairman's Letter
• 2008 Chairman's Letter

The Superinvestors of Graham-and-Doddsville (Fall, 1984)

• The common intellectual theme of the investors from Graham - Doddsville is this: they search for discrepencies between the value of a business and the price of small pieces of that business in the market... through the medium of marketable stocks...
• Our Graham & Dodd investors... do not discuss beta , the capital asset pricing model or covariance in returns among securities. ...[M]ost of them would have difficulty defining these terms. The investors simply focus on two variables: price and value .
• Walter never went to college, but took a course from Ben Graham at night at the New York Institute of Finance . Walter left Graham-Newman [Partnership] in 1955... He knows how to identify securities that sell at considerably less than their value to a private owner. And that's all he does . ...He simply says, if a business is worth a dollar and I can buy it for 40 cents, something good may happen to me. And he does it over and over again.
• Tom [Knapp] was a chemistry major at Princeton before the war; when he came back... he was a beach bum. And then one day he read that Dave Dodd was giving a night course in investments at Columbia. Tom took it on a non-credit basis, and he got so interested... that he enrolled at Columbia Business School where he got the MBA... He took Dodd's course again, and took Ben Graham 's course. ...35 years later ...I found him on the beach ...he owns the beach!
• [T]he idea of buying dollar bills for 40 cents takes immediately with people or it doesn't take at all. It's like an inoculation. ...It doesn't seem to be a matter of I.Q. or academic training. It's instant recognition, or it's nothing.
• Stan [Perlmeter] was a liberal arts major... We happened to be in the same building... Again, it took five minutes for Stan to embrace the value approach.
• Very, very few pension funds are managed from a value standpoint.
• It's not like I am reciting... the names of a bunch of lottery winners. ...I knew what they had been taught and ...had some personal knowledge of their intellect, character and temperament. ...[T]his group has assumed far less risk than average; note their record in years when the general market is weak. While they differ greatly in style, these investors are, mentally, always buying the business, not buying the stock . ...[A]ll exploit the difference between the market price of a business and its intrinsic value.
• I'm convinced that there is much inefficiency in the market.
• When the price of a stock can be influenced by a " herd " on Wall Street with prices set at the margin by the most emotional person, or the greediest person, or the most depressed person, it is hard to argue that the market always prices rationally. In fact, market prices are often nonsensical.
• The greater the potential for reward in the value portfolio, the less risk there is.
• The Washington Post Company in 1973 was selling for $80 million in the market. ...[Y]ou could have sold the assets ...for not less than $400 million ...Now, if the stock had declined even further... to $40 million... its beta would have been greater. ...This is truly Alice in Wonderland. I have never been able to figure out why it's riskier to buy $400 million worth of properties for $40 million than for $80 million.
• You... have to have the knowledge to... make a very general estimate about the value of the underlying businesses. But you do not cut it close. That is what Ben Graham meant by having a margin of safety .
• [T]he secret has been out for 50 years, ever since Ben Graham and Dave Dodd wrote Security Analysis , yet I have seen no trend toward value investing in... 35 years... There seems to be some perverse human characteristic that likes to make easy things difficult.
• There will continue to be wide discrepancies between price and value in the marketplace, and those who read their Graham and Dodd will continue to prosper.

Quotes from the press

• Risk comes from not knowing what you're doing. "The Three Essential Warren Buffett Quotes To Live By" forbes.com (20 April 2014)
• We're going to move a lot of crude (oil) in this country, and we have to learn how to do it very safely. "Buffett: Moving Oil By Rail Safely Is A Major Industry Concern" Investing.com (24 April 2014)
• You can't make a good deal with a bad person. "23 Quotes from Warren Buffett on Life and Generosity" forbes.com (02 December 2013)
• Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble. "25 Best Warren Buffett Quotes" The Motley Fool (28 September 2014)
• What counts for most people in investing is not how much they know, but rather how realistically they define what they don't know. "The genius of Warren Buffett in 23 quotes" MarketWatch (19 August 2015)
• I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life. "10 Brilliant Quotes From Warren Buffett, America's Second-Richest Person " entrepreneur.com (13 November 2014)
• The best thing that happens to us is when a great company gets into temporary trouble... We want to buy them when they're on the operating table. "resensi buku warren buffett | jatuh bangun" gracetzy.com (30 May 2022)
• The problem with municipal finance generally is that, you know, Neville Chamberlain said “not in our time,” in terms of peace and, basically, many politicians think “not in my time” when they’re dealing with fiscal matters . The pension situation, first states, then cities, and so-on, you… it’s absolutely terrible, because really don’t wanna face – they want, they can give promises now which translate into votes, and they don’t really have to with the pensions they really don’t have to deliver on those until they’re long gone. And Puerto Rico , they’ve been kicking the can down the road for a long time, and they even raised new money, I think, not much more than a year ago, a very high price for hedge funds. The answer to financial problems is not more borrowing, more borrowing, but they’ll do it as long as they can and finally the day of reckoning comes and it would have been so much easier to tackle the problem earlier and no, you know, you got all different classes of bondholders and other claimants and they’re gonna fight like crazy. Charlie [Munger] always says, he says, “an ounce of prevention is worth a ton of cure,” and now you’re in the cure stage in Puerto Rico. "Buffett on Puerto Rico's debt crisis" CNBC (2 May 2016)

Rules for success

• Take the job that you would take if you were independently wealthy.
• Look for integrity, intelligence and energy.
• There's a whole bunch of things I don't know a thing about — I just stay away from those. So, I stay within what I call my circle of competence.
• I just read and read and read. ... I have always enjoyed reading.
• Capitalism is all about somebody coming and trying to take the castle. Now what you need is .... you need a castle that has some durable competitive advantage — some castle that has a moat around it.
• I like to study failure, actually. My partner says, "I want to know where I'll die so I'll never go there." We want to see what has caused businesses to go bad. The biggest thing that kills them is complacency. ... The danger would always be that you rest on your laurels.
• Warren Buffett's Top 10 Rules for Success – YouTube, uploaded by Evan Carmichael, 2015
• "Part 2 — Billionaire Warren Buffett says GOP health reform bills are relief for the rich" PBS Newshour (27 June 2017)
• Confidence comes back one at a time, but fear, is instantaneous.

• Though Buffett is reported to have expressed such ideas with such remarks many times in his lectures, he never claimed to originate the idea, and in the article "The Chains of Habit Are Too Light To Be Felt Until They Are Too Heavy To Be Broken" at the Quote Investigator it is shown that this sort of expression about chains goes back at least to similar ideas presented by Samuel Johnson in "The Vision of Theodore, The Hermit of Teneriffe, Found in His Cell" in The Gentleman’s Magazine , Vol. 18 (April 1748), p.160:
• This maxim (perhaps of gambling or horse racing origin) is widely attributed to Warren Buffett and, as such, has traditionally been cited in print; notably, it was attributed (perhaps facetiously) to him by Mary Buffett in, The Tao of Warren Buffett . A more uncommon, less well known version, and perhaps one with a more lasting credibility (or certainly with a higher degree of checkability), would be: "The first rule is don't lose, and the second rule is never forget the first rule." This version was noted by Steve Forbes in a friendly meeting in Omaha, in an article published as: Jay-Z, Buffett and Forbes on Success and Giving Back . This article is available on the Forbes website, published on September 23, 2010.

Quotes about Buffett

• Benjamin C. Bradlee , remarking on Buffet's honesty and philanthropy , in a television documentary on Buffett on The Biography Channel (2006)
• Justin Elliott , "Lord of the Roths: How Tech Mogul Peter Thiel Turned a Retirement Account for the Middle Class Into a $5 Billion Tax-Free Piggy Bank" (by Justin Elliott, Patricia Callahan and James Bandler June 24, 2021, 5 a.m. EDT)
• Richard I. Kirkland Jr., "Should You Leave It All to the Children?", Fortune (29 September 1986)
• Stephanie Loiacono in "Rules That Warren Buffett Lives By" at Yahoo Finance (23 February 2010)
• Barack Obama , in The Audacity of Hope: Thoughts on Reclaiming the American Dream (2006), Ch. 5
• Bernie Sanders , Late Night with Seth Meyers, (2 June 2015)
• Bernie Sanders Our Revolution (2016)
• Vandana Shiva Oneness vs. the 1%: Shattering Illusions, Seeding Freedom (2018)
• Jonathan Stempel, in "Buffett: Health care "tapeworm" drags on economy" at Reuters (1 March 2010)
• Nassim Nicholas Taleb , Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (2001) Eight: Too Many Millionaires | Double Survivorship Biases | More Experts
• Nassim Nicholas Taleb Antifragile: Things that Gain from Disorder (2013), p. 137

David Cay Johnston; How The One Percent Enrich Themselves at Government Expense (Jun 23, 2009)

• As taxpayers we gave one of Warren Buffet's companies, in 2006, an interest-free loan of $665 million dollars, and he only has to pay half of it back 28 years from now. ...Imagine ...you bought a house in 1980 at the price in 1980. Up until now [2009] you haven't made any payments on the house, and this year you have to pay half in the... dollars you agreed to back then, no adjustment for inflation. Do you think that alone might make you a wealthy man?
• We gave Warren Buffet (another one of his companies) $100 million gift last year. ...[T]he state of New York had to create a special district in Erie County... [T]he justification for this is that Buffalo has the highest unemployment of the cities in New York state, and this would create jobs. It was a call-center for GEICO insurance... [A] competitor closed down their call-center, so there were no new jobs created, and... they created it in one of the whitest, wealthiest suburbs where there is virtually no public transportation. Again, transferring money up the chain of command, benefiting the second wealthiest man in America.
• Warren Buffet controls an electric utility that has operations in the Midwest, Utah and Oregon. Oregon passed a law saying whatever income taxes are embedded in the electric rates paid to this monopoly electric company, must be paid to the government, or the ratepayers get the money back. Warren Buffet's fighting that like mad, because he knows... that company can permanently capture those taxes (if they're very smart about how they handle their finances) and enhance their profits.
• Buffet's electric company in Iowa... There used to be 9 corporate-owned [electric] utilities owned in Iowa. They were rolled up into 2. The people in Johnson City... and 5 or 6 little neighboring communities got together and said, "We want lower electric rates. We've consolidated. Rates should go down." "No way," said the company. So they started organizing to buy out Warren Buffet's company and have municipal power. Everywhere in America that you have municipal power, it's cheaper than corporate [electric] power. Pretty soon they got advice and recommendations and help from the Iowa Association of Municipal Utilities... Two prominent Iowa legislators... had a bill that would tax these municipal power agencies, and would hamstring them from any change in their business model... in the future, and that unless they promised to never again help people try to buy out Mr. Buffet's company, they had the votes to get this enacted. ...[A]s Carol Spaziani, the... retired city librarian... and one of the organizers of this drive said, "...I turn on the television and here are these images and these news stories about this beneficent billionaire, Warren Buffet, who is giving away all of this money. What nobody writes about is how he's gouging the people of Johnson City with excessive electricity rates, and that's how he's making his money.

External links

• Berkshire Hathaway, Buffett's company · Warren Buffett's Letters to Shareholders
• Profile at Forbes
• "FACTBOX: Warren Buffett at a glance", by Jonathan Stempel, editing by Philip Barbara, Reuters (12 February 2008)

• ↑ Flatt, Amelie; Langner, Arne; Leps, Olof (2022) (in en). Model-Driven Development of Akoma Ntoso Application Profiles - A Conceptual Framework for Model-Based Generation of XML Subschemas (1st ed.). Heidelberg: Sprinter Nature. ISBN 978-3-031-14131-7 .  

• 1930 births
• Living people
• Businesspeople from the United States
• Company founders
• Agnostics from the United States
• Philanthropists from the United States
• People from Omaha
• Presidential Medal of Freedom recipients
• Columbia University alumni

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Warren Buffett

Graduation: [1951] M.S. Economics, Columbia University Occupation: , Investor, Chairman & CEO of Berkshire Hathaway In February 2008, he was ranked by Forbes as the richest person in the world, worth about $62 billion. Despite his massive wealth, he lives relatively frugally, still resides in the home he bought in 1958 for $31,500, and drives his own car. In 2006, he announced his plans to give 83 percent of his fortune to the Bill and Melinda Gates Foundation. Warren's Ancestors on his Mother's side are of Pennsylvania Dutch (German) and Swiss Mennonite Peoples. They originally settled in Northampton and Lancaster Counties, before removing to what was originally Northumberland, then Union, and today Snyder County. There, they had three generations of family, before Warren's Grandparents resettled the family in Nebraska Territory. Through Warren's Maternal side, his 4 X's Great Grandmother can be linked by her sister, through marriage, to Queen Elizabeth's Grandmother and German Royalty. http://en.wikipedia.org/wiki/Warren_Buffett https://www.23andme.com/gen101/variation/buffett/ 1. Stahl Family Book- A Trip Thorough History 1991 edition 2. Snyder Co Historical Society, Stahl Family Wing, Middleburg, PA 3. Snyder Co Court House, Middleburg, PA 4. Union Co Court House, Lewisburg, PA 5. Union County Historical Society, Lewisburg, PA 6. "Snyder County Pioneers", Charles A. Fisher 7. Middleburgh Post, Middleburg, PA (1902-1903) Cemetery Listings of Snyder Co. 8. Commemorative Biographical Record of Central Pennsylvania, by J.H. Beers & Co, Published 1898. (Volume p. 615-1231) { https://archive.org/details/commemorativebio04jhbe} 9. Personal Research by Ken Wise Wise-2655 (4th Cousin once removed) Warren's formal name full middle name (E.) exact birthdate birth location private siblings' names Although their Wikipedia Biographies say "they did a DNA test which revealed no relation," the WikiTree Relationship Finder shows Warren and Jimmy are 9th cousins once removed by Wiki Tree Warren Buffett and James William Buffett (1946-2023) are both descendants of Catherine (Estes) Jones (abt.1630-aft.1688). Explore more: 191 common ancestors You mean he's of Mennonite descent on his mother's side, right? Because his father's family is all English with one Welsh ancestor. On his mother's side, British ancestry is also very pronounced. Of course, on his maternal side, his mother is descended from a "Stahl" ancestor and other ancestors from Switzerland or neighbouring Baden-Württemberg. But Warren is clearly predominantly English/British. I'm sure you know, Stahl means steel in German. So some of Frederick Henning Stahl's ancestors might have been blacksmiths in Oberwalden. It's always interesting to discover people's ancestry. I find it fascinating. This week's featured connections are Summer Olympians : Warren is 34 degrees from Simone Biles, 29 degrees from Maria Johanna Philipsen-Braun, 26 degrees from Pierre de Coubertin, 19 degrees from Étienne Desmarteau, 22 degrees from Fanny Gately, 26 degrees from Evelyn Konno, 46 degrees from Paavo Johannes Nurmi, 21 degrees from Wilma Rudolph, 34 degrees from Carl Schuhmann, 17 degrees from Zara Tindall, 22 degrees from Violet Robb and 17 degrees from Mina Wylie on our single family tree . Login to see how you relate to 33 million family members. B  >  Buffett  >  Warren Buffett Categories: Notables WIKITREE HOME   |   ABOUT   |   G2G FORUM   |   HELP   |   SEARCH IMPORTANT PRIVACY NOTICE & DISCLAIMER: YOU HAVE A RESPONSIBILITY TO USE CAUTION WHEN DISTRIBUTING PRIVATE INFORMATION. WIKITREE PROTECTS MOST SENSITIVE INFORMATION BUT ONLY TO THE EXTENT STATED IN THE TERMS OF SERVICE AND PRIVACY POLICY . PRIVACY TAKE-DOWN REQUEST © 2008 - 2023 INTERESTING.COM, INC. CONTENT MAY BE COPYRIGHTED BY WIKITREE COMMUNITY MEMBERS. Warren Buffett Bio, Wiki, Height, Wife & Net Worth Full name: Warren Edward Buffett Born: August 30, 1930 Nationality: American Education: Columbia University Occupation: Chairman & CEO of Berkshire Hathaway Years active: 1951–present Net worth: 99.1 billion USD (2022) Forbes Salary: US$100,000 Marital Status: Widowed, Remarried Children: 3 Height: 1.78 m Religion: None (Agnostic) Warren Edward Buffett is an American business magnate, philanthropist, and the most successful investor of the 20th century. He was named the world’s wealthiest person in 2008 and also an influential person in the world. He started his mission with a shared business. Warren Buffet Early Life: Warren Buffet was born on August 30, 1930, in Omaha, Nebraska to his father, Howard was a stockbroker, and his mother, Leila Stahl Buffet was a homemaker. The buffet was the only boy and the second of three children. In 1942, Buffet’s family moved to Fredricksburg, Virginia, where he attended Woodrow Wilson High School in Washington, D.C. then Buffett enrolled at the University of Pennsylvania at the age of 16 in order to study business. In 1956, Buffett attended Columbia University for his advanced degree. Business Career: From his early childhood, Buffet started investing in various fields and only at the age of 11 made his first investment in the share market. For the first time, Buffet bought three shares at $38 per share but the share price rapidly dropped to only $27 however, Buffet holds patience until the price reached $40. He sold his shares with a small profit and got a reward of patience. By the age of 13, he launched his own business as a paperboy and sold his own horseracing tip sheet. As a continuous process of making money Buffet and a friend purchased a used pinball machine for $25 and installed it in a Washington D.C. barbershop while he studying at Woodrow Wilson High School. With the profit of the business Buffet owned three machines before selling the business for $1200. When he finished his college education Buffet earned $10,000 from his childhood business. After his graduation, he formed a firm Buffet Partnership in his hometown, and his investment has always been successful.   Personal Life: In 1952, Buffett married Susan Buffett and they had three children, Susie, Howard, and Peter. From 1977, the couple began living separately, although they stayed married until her death in July 2004. Wealth: Forbes Magazine ranked Warren Buffet as the richest person in 2008 with an estimated net worth of $75.6 billion. Buffet ranked as the second richest man in the United State after his donating billions of dollars to charity after Bill Gates . Similar Biography: Leave a comment cancel reply. Your email address will not be published. Required fields are marked * Privacy Overview Cookie Duration Description cookielawinfo-checkbox-analytics 11 months This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". cookielawinfo-checkbox-functional 11 months The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". cookielawinfo-checkbox-necessary 11 months This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". cookielawinfo-checkbox-others 11 months This cookie is set by GDPR Cookie Consent plugin. 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It does not store any personal data. 370 IMAGES Warren Buffett Warren Buffett Biography Warren Buffett Warren Buffett Biography Warren Buffett Bio & Wiki: Net Worth, Age, Height & Weight Warren Buffett Biography VIDEO Wareen Buffett TRADER or INVESTOR (revealed) @UmerQureshi How Warren Buffett Really Became Worth Billions (THE UNTOLD STORY) Warren Buffett's Fierce Coca Cola Devotion THE BILLIONAIRE LIFE OF Warren Buffett Warren Buffett DESTROYS Interviewer #warrenbuffett #charliemunger #sharemarket #valueinvesting Fact about Warren Buffett #warrenbuffet COMMENTS Warren Buffett Warren Edward Buffett (/ ˈ b ʌ f ɪ t / BUF-it; born August 30, 1930) is an American businessman, investor, and philanthropist who currently serves as the chairman and CEO of Berkshire Hathaway.As a result of his investment success, Buffett is one of the best-known investors in the world. As of June 2024, he had a net worth of $135 billion, making him the tenth-richest person in the world. Warren Buffett Early Life. Warren Edward Buffett was born on August 30, 1930, in Omaha, Nebraska. Buffett's father, Howard, worked as a stockbroker and served as a U.S. congressman. His mother, Leila Stahl ... Warren Buffett Warren Buffett (born 30 August 1930) is an American investor who is known for his wealth.He was born in Omaha, Nebraska.He is a primary shareholder, chairman and CEO of the company Berkshire Hathaway.He is the third wealthiest person in the world. On April 11, 2012, he was diagnosed with prostate cancer, for which he completed treatment in September 2012. Who Is Warren Buffett? How Did He Make His Fortune? Known as the " Oracle of Omaha " for his investment prowess, Buffett has amassed a personal fortune in excess of $130 billion, according to Forbes. He inspires legions of loyal fans to make a ... Warren Buffett Warren Buffett (born August 30, 1930, Omaha, Nebraska, U.S.) is an American businessman and philanthropist, widely considered the most successful investor of the 20th and early 21st centuries, having defied prevailing investment trends to amass a personal fortune of more than $100 billion. Known as the "Oracle of Omaha," Buffett was the son ... Warren Buffett About Warren Buffett. Known as the "Oracle of Omaha," Warren Buffett is one of the most successful investors of all time. Buffett runs Berkshire Hathaway, which owns dozens of companies, including ... Warren Edward Buffett Warren Buffett (born 1930) is America's most brilliant investor, compiling a year-after-year record of phenomenal returns for the shareholders of his holding company, Berkshire Hathaway, Inc. For example, if someone had given him $10,000 to invest in 1956 he or she would be worth over $60 million by 1994. Buffett is one of the richest men in ... Warren Buffett Warren Buffett. Actor: Entourage. Warren Edward Buffett born in Omaha ( August 30, 1930 ). He developed an interest in business and investing in his youth, eventually entering the Wharton School of the University of Pennsylvania in 1947 before transferring and graduating from University of Nebraska-Lincoln at the age of 19. Buffett went on to enroll and graduate from Columbia University where ... Here's a Look Inside Warren Buffett's Incredible Life Take a look inside his incredible life and career. Warren Buffett, 89, has been the CEO of Berkshire Hathaway for half a century. Steve Pope / Getty Images. Leslie Wexner, the CEO and founder of ... Who is Greg Abel, Warren Buffett's successor at Berkshire Hathaway? Warren Buffett confirmed that Gregory Abel, a 59-year-old Berkshire Hathaway Vice Chairman, is set to be his successor once the investing icon is ready to retire as Berkshire's CEO and chairman. Prem Watsa Prem Watsa CM (born 5 August 1950) is an Indian-Canadian billionaire businessman who is the founder, chairman, and chief executive of Fairfax Financial Holdings, based in Toronto. He has been called the "Canadian Warren Buffett." He was awarded the fourth highest civilian award of India, Padma Shri, in January 2020. The Snowball: Warren Buffett and the Business of Life Before this book was written, Warren Buffett rejected numerous approaches by biographers, journalists, and publishers to cooperate on an account of his life. After spending six years as the only Wall Street analyst Buffett would speak to, Alice Schroeder was approached by Buffett to write his biography. In 2003, she left her job at Morgan Stanley and traveled to Omaha to work on the book full ... Warren Buffett Managers and investors alike must understand that accounting numbers is the beginning, not the end, of business valuation.. Warren Edward Buffett (born 30 August 1930) is an American business magnate, investor, and philanthropist.He is currently the chairman and CEO of Berkshire Hathaway.He is one of the most successful investors in the world and has a net worth of over $113 billion as of June ... Astrid Menks Astrid Menks is a Latvian-American philanthropist and former cocktail waitress who is married to billionaire business magnate Warren Buffett. After spending a considerable part of her early life in her home country of Latvia, Menks moved to the US in pursuit of the proverbial American dream. In the 1970s, she was working as a waitress at a ... Warren Buffett Warren Edward Buffett (/ ˈ b ʌ f ᵻ t /; born August 30, 1930) is an American business magnate, investor, an philanthropist.He is widely considered the maist successfu investor o the 20t century. Buffett is the primary sharehaulder, chairman an CEO o Berkshire Hathaway an consistently rankit amang the warld's wealthiest fowk.He wis rankit as the warld's wealthiest person in 2008 an as the ... Susan Buffett Susan Thompson Buffett (June 15, 1932 - July 29, 2004) was an American activist for the causes of civil rights, abortion rights and birth control, and the first wife of investor Warren Buffett.She was a director of Berkshire Hathaway, owning 2.2 percent of the company worth about $3 billion at the time of her death, making her the 153rd richest person in the world. Warren Buffett Warren Edward Buffett (Omaha, Nebraska, 30 de agosto de 1930) es un inversor y empresario estadounidense.Es considerado uno de los inversores más grandes del mundo, [4] [5] además de ser el mayor accionista, presidente y director ejecutivo de Berkshire Hathaway.En 2008 ocupó el primer puesto en la lista de personas más ricas del mundo elaborada por la revista Forbes, en el 2017 ocupó la ... Warren Buffett Says The Most Important Decision of Your Life Is ... Reflecting on his own life, Warren Buffett has been candid about his personal regrets. In his 2008 self-authorized biography written by Alice Schroeder, he admitted that his biggest mistake was ... Howard Graham Buffett Howard Graham Buffett (born December 16, 1954) is an American businessman, former politician, philanthropist, photographer, farmer, and conservationist. [1] He is the middle child of billionaire investor Warren Buffett. He is named after Howard Buffett, his grandfather, and Benjamin Graham, Warren Buffett's favorite professor. Warren Buffett Warren Edward Buffett, přezdívaný jako Věštec z Omahy či Zázrak z Omahy, (* 30. srpna 1930 Omaha, Nebraska) je americký miliardář, investor, obchodník a filantrop.V roce 2007 jej časopis Time uvedl na seznamu 100 nejvlivnějších lidí světa. V roce 2008 byl podle žebříčku, který sestavuje časopis Forbes, nejbohatším člověkem na světě. Warren Buffett (b. 1930s) Although their Wikipedia Biographies say "they did a DNA test which revealed no relation," the WikiTree Relationship Finder shows Warren and Jimmy are 9th cousins once removed by Wiki Tree Warren Buffett and James William Buffett (1946-2023) are both descendants of Catherine (Estes) Jones (abt.1630-aft.1688). Explore more: 191 common ancestors Bill Gates William Henry Gates III was born on October 28, 1955, in Seattle, Washington as the only son of William H. Gates Sr. (1925-2020) and his first wife, Mary Maxwell Gates (1929-1994). His ancestry includes English, German, and Irish/Scots-Irish. His father was a prominent lawyer, and his mother served on the board of directors of First Interstate BancSystem and United Way of America. Warren Buffett Bio, Wiki, Height, Wife & Net Worth Net worth: 99.1 billion USD (2022) Forbes. Salary: US$100,000. Marital Status: Widowed, Remarried. Children: 3. Height: 1.78 m. Religion: None (Agnostic) Warren Edward Buffett is an American business magnate, philanthropist, and the most successful investor of the 20th century. He was named the world's wealthiest person in 2008 and also an ... Charlie Munger Charlie Munger. Charles Thomas Munger (January 1, 1924 - November 28, 2023) was an American businessman, investor, and philanthropist. He was vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett. Buffett described Munger as his closest partner and right-hand man, and credited him with being the "architect" of ... Doris Buffett Doris Eleanor Buffett (February 12, 1928 - August 4, 2020) was an American philanthropist also known as the 'retail' philanthropist and the founder of The Sunshine Lady Foundation, The Learning By Giving Foundation, and The Letters Foundation which she co-founded alongside her younger brother, billionaire Warren Buffett. She was the daughter of Leila (Stahl) and U.S. politician and ... essay homework paper phd project resume review study thesis