There are thousands of pages written about his business techniques which help us to understand his big success. On the other hand, there is not much known about his private life. Find out what stories do we have about Warren Buffett.
Early Life
One of the top 5 businessmen on the planet was born on the 30th of August 1930, in Omaha, Nebraska. He was a second child in his family and the only son of a congressman Howard Buffett.
At an early age, he already showed interest in earning and saving money. As a boy, he was selling chewing gums and newspapers. His grandfather was the owner of a small shop, so he wanted to be a part of the family business and to understand how that works. At the age of 11, he bought his first three shares.
Due to house moving with his family, he finished elementary and high school in Washington. This ambitious man began his studies at Wharton School of the University of Pennsylvania, but later, he carried on studies in Nebraska and graduated there.
Believe it or not, he was rejected from Harvard’s business school, so he had to start this education in Columbia at the same University where Benjamin Graham was studying. This mastermind is well known as “Wizard from Omaha” around the globe.
The entire world population is aware of his constant investments, but also of his modesty despite enormous fortune. He is one of the greatest philanthropists, alongside Bill Gates, because he promised to give away to charity 99% of his wealth after his death.
Career
Warren Buffett is a chairman and CEO of Berkshire Hathaway Inc (Multinational conglomerate company) for the last five decades. However, before he became so successful, he was working and upgrading his business knowledge in several different companies on different positions; Buffett-Falk&Co, as an investment salesman, Graham-Newman Group as a securities analyst, and as the general partner in Buffett Partnership.
Thanks to his partnerships, he became a millionaire for the first time in 1962, when his bank account reached $1.025 million. In 1987 Berkshire Hathaway bought a 12% share in Salomon Inc, so he became a director of the biggest shareholding company at that time.
One of the most profitable investments was purchasing The Coca-Cola stock – up to 7% of the company. In the early 90’s he was already a billionaire when Berkshire Hathaway sold class A shares for $7.175 thousand per share with auction closing. The biggest financial crisis for this man happened between 2007-2008 due to the recession.
Berkshire Hathaway was 77% down in earnings in 2008, and few more big agreements had market value drop. There were ups and downs in his business, but despite all troubles, there is a standing fact that he is the most significant investors of the old century.
In February 2015, Berkshire Hathaway was ranked on number 4, as the most valuable public enterprise in the USA, with a market capitalization of $355 billion.
It is fascinating to know that until ten years ago, this businessman did not use the mobile phone, he didn’t have a computer on his office desk, and he didn’t have a personal driver.
It was published in 2013 that he has an old Nokia (flip) mobile phone and that he sent one email only in his life! In 2008 he was announced as the wealthiest person in the world with a net worth of $62 billion.
Personal Life
In 1952, he got married to Susan Thompson, and they have three children – Susie, Howard, and Peter. Despite their separation in 1977, this famous couple remained married until her death in 2004. Two years later, he got married to his longtime partner.
Generosity is his second name; hence he provides massive support for charities. He topped his own record in donation when he gave away shares of Berkshire Hathaway worth $2.8 billion to Bill and Melinda’s Gate foundation. The total amount of donated money has reached almost $23 billion.
As the most prominent personal investment, he considers the purchase of Benjamin Graham’s book – “Clever Investor” in 1949.
Warren Buffett Net Worth 2024
As of February 2024, Warren Buffett’s net worth is estimated to be $88 billion, and this number makes him the third wealthiest man in the world.
