|Warren Buffett was born in Nebraska, Omaha USA on the 30th of August in 1930. He is one of the worlds richest men, with a fortune that is only surpassed by Bill Gates of Microsoft fame. He is considered one of the most successful investors of all time and has picked up the nickname of the “Oracle of Omaha”.
Buffett was born to Leila and Howard Buffett and was the second of three children, he being the only boy. Buffett’s father, Howard was a stockbroker and also became a member of congress. Warren Buffett showed early signs of being entrepreneurial through being involved in various business dealings as a child, including purchasing bottles of cola cheaply and selling them for a profit. He also made his first investment in the stock market when he was just 11 years old.
Buffett began studying at the Wharton School of Finance at the University of Pennsylvania, but transferred to the University of Nebraska where he graduated. He then went on to the Columbia University to do a Masters in economics. This was where he met the influential value investor Benjamin Graham.
The young investor was very influenced by Benjamin Graham and went to work for him in his company “Graham-Newman”. It was here that Warren Buffett developed many of his stock market investing skills that have now become legendary. Graham developed a method where investors could work out the intrinsic value of a company and make intelligent investing decisions by comparing the stock price to the intrinsic value.
Warren Buffett’s Berkshire Berkshire Hathaway
It was a difficult time for the textile industry and Buffett eventually wound up Berkshire Hathaway’s textile activities, but kept the name for Buffett’s portfolio of companies and investments. The insurance industry was the first major area of success that Berkshire Hathaway had, with the funds used to acquire carefully selected investments each year. Major undervalued companies that Buffett took advantage of included “American Express”, “Coca-Cola” “The Washington Post” and “Gillette”. Berkshire Hathaway owns large holdings of each of the above major brand companies (more than 5% each).
Warren Buffett lives with his long time partner Astrid Menks in Omaha, USA. He was married to Susan Thompson up until her death from stroke in July 2004, but the couple were separated in 1977. They chose not to divorce and remained good friends and business associates. Buffett’s late wife was set to inherit much of his fortune upon his death.
Warren Buffet Gives Away his Billions to the Bill & Melinda Gates Foundation
In June 2006 Buffett announced plans to give much of his wealth away while he is still living. The majority of the Buffett billions will go to the foundation of his Bridge partner and friend of fifteen years, Bill Gates.
Warren Buffett becomes the Richest Man in the World in 2008