Warren Buffet

Warren Edward Buffett  Warren

Buffett, the ‘Sage of Omaha', is generally considered to be the world’s most successful investor. His investment vehicle, Berkshire Hathaway Inc, is legendary. He is the second richest business man of the world with a Net worth of $37 Billion. He is the chairman and the CEO of Berkshire Hathaway Inc in Omaha U.S.A.

Personal Life   

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Born on August 30, 1930 in Omaha, Nebraska, U.S.A. Buffett was educated at Woodrow Wilson High School, Washington, D.C. In 1950, he joined University of Nebraska where he received a B.Sc. in Economics and completed M.Sc at Columbia University in 1951. In 1953 Buffett married Susan Thompson who died in 2004 and has three children, Susan Alice Buffett,Howard Graham Buffett, Peter Andrew Buffett. In 2006, on his seventy-sixth birthday, he married his longtimecompanion, Astrid Menks.

CAREER      

Buffett was employed from 1951–54 at Buffett-Falk & Co., Omaha as an Investment Salesman. In 1954–1956 at Graham-Newman Corp., New York as a Securities Analyst . In 1954, Buffett accepted a job at Benjamin Graham's partnership. His starting salary was $12,000 p.a. In 1960, Buffett had seven partnerships operating: Buffett Associates, Buffett Fund, Dacee, Emdee, Glenof, Mo-Buff and Underwood. In 1962, Buffett became a millionaire because of his partnerships, in January 1962 he had $1,025,000. Buffett discovered a textile manufacturing firm, Berkshire Hathaway in 1970.

CAREER  

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From 1970–Present at Berkshire Hathaway Inc, Omaha is working as a Chairman and CEO. He lived solely on his salary of $50,000 per year, and on his outside investment income. In 1979, Berkshire began the year trade and at that time Buffet's net worth reached $620 million. In 1999, Buffett was named the top money manager of the twentieth century in a survey by the Carson Group, ahead of Peter Lynch and John Templeton. In 2007, he was listed among Time's 100 Most Influential People in the world In 2008 was ranked by Forbes as the richest person in the world with an estimated net worth of approximately $62 billion. His salary as a CEO at Berkshire Hathaway Inc is US$ 100,000.

BUSINESS      

In 1973, Berkshire Hathaway Inc began to acquire stock in the Washington Post Company. In 1977, Berkshire indirectly purchased the Buffalo Evening News for $32.5 million. In 1979, Berkshire began to acquire stock in ABC. Capital Cities' announced $3.5 billion purchase of ABC on March 18, 1985. In 1987, Berkshire Hathaway purchased 12% stake in Salomon Inc., making it the largest shareholder and Buffett the director. In 1987 he took over RJR Nabisco, Inc a tobacco company. In 1988, Buffett began buying stock in Coca-Cola Company, eventually purchasing up to 7 percent of the company for $1.02 billion and also acquired 10% stock of Goldman Sachs.

BUSINESS

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Buffett invested in Petro China Company Limited in 2005. In 2007, Buffet's PacifiCorp, a subsidiary of his MidAmerican Energy Company, cancelled six proposed coal-fired power plants. In October 2008, Buffett invested in new energy automobile business by paying $230 million for 10% of BYD Company shares which got him a profit of 500% within a year. In October 2008, the media reported that Warren Buffett had agreed to buy General Electric (GE) preferred stock. In 2009, Warren Buffett invested $2.6 billion as a part of Swiss Reinsurance Company of Zurich raising equity capital. Berkshire Hathaway already owns a 3% stake.

Buffett into politics…. 

Buffett has formally endorsed and made campaign contributions to Barack Obama's presidential campaign. On July 2, 2008, Buffett attended a $28,500 per plate fundraiser for Obama's campaign in Chicago hosted by Obama's National Finance Chair, Penny Pritzker, as well as Obama advisor Valerie Jarrett. During the second 2008 U.S. presidential debate, candidates John McCain and Barack Obama, after being asked first by presidential debate mediator Tom Brokaw, both mentioned Buffett as a possible future Secretary of the Treasury. Later, in the third and final presidential debate, Obama mentioned Buffett as a potential economic advisor.Buffett was also finance advisor to California Republican Governor Arnold Schwarzenegger during his 2003 election campaign.

Buffett as a Philanthropist  

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He also pledged $50-million to the Nuclear Threat Initiative, in Washington, where he has served as an adviser since 2002. Most of his fortune would pass to his Buffett Foundation. The bulk of the estate of his wife, valued at $2.6 billion, went to that foundation when she died in 2004. In 2006, he auctioned his 2001 Lincoln Town Car on eBay to raise money for Girls, Inc. In 2006, Buffett gave away 85% of his Berkshire holdings to five foundations in annual gifts of stock. The largest contribution to the Bill and Melinda Gates Foundation.

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