An Industrialist with a Wide Vision
Warren Edward Buffett is aninvestor, business magnate, and philanthropist of the U.S. He is the CEO of ‘Berkshire Hathaway’ which is widely acclaimed as one of the best financial organizations globally. Buffett has been the biggest investor of the company from 1970 onwards. He is commended for his normal lifestyle that he takes pride in. He is a prominent charity donor and has promised to part with his substantial fortune for charitable causesthrough the Bill and Melinda Gates Foundation. In 2009, Buffet and Bill Gates established ‘The Giving Pledge’, through which business tycoons make pledges to donate their riches for charitable causes. Warren Buffett
- Early life
Buffett was born in August 1930 in Omaha, Nebraska. He is the second child of Leila and Howard Buffett. He started his schooling at the Rose Hill Elementary School. In 1942, his dad was chosen for the first time in the U.S. Congress. Thus, the family moved to Washington, D.C. wherehe completed his primary schooling. Then he went to Woodrow Wilson High School in 1947.
Later, he joined the Columbia Business School, where he formed his ‘venture reasoning’on the central idea of ‘significant worth contribution’. He went to the ‘New York Institute of Finance’ to continue his financial studies, and after completing, he made the ‘Buffett Partnership’ in 1956.
He worked at the ‘Buffett-Falk and Company’ from 1951 to 1954 and from 1954 to 1956 at the ‘Graham-Newman Corporation’ as a ‘Protections Expert’. From 1956 to 1969 he was a general accomplice at Buffett Partnership, Ltd. and in 1970 he became the Chairman and CEO of ‘Berkshire Hathaway Inc. In 1962, Buffett became a business tycoon due to his immaculate connections and had a fund of $7,178,500. Out ofthat amount, over $1,025,000 were exclusive with Buffett!
In 1970, Buffett started creating his ‘yearly letters’ to investors, but he lived only on his compensation of $50,000 a year and his outside venture salary. In 1973, Berkshire started to buy the stocks of the ‘Washington Post Company’. In 1977, Berkshire made a deal of $32.5 million and bought the ‘Buffalo Evening News’indirectly. Subsequently, ‘antitrust charges’ were slapped on Berkshire by its competitor, the ‘Buffalo Courier-Express’. Both dailies lost significant cash until the Courier-Express finally collapsed in 1982.
In 1979, Berkshire began buying the stocksof‘ABC’. ‘Capital Cities’ reported a $3.5 billion acquisition of ‘ABC’in March 1985. The media industry was astonished by the deal as the latter was four times as huge as Capital Cities at that point. Buffett helped in making the dealand receiveda 25% share in the consolidated organization. He became a billionaire when Berkshiresoldits ‘class A’shares in 1990 as the markets closed at $7,175 for a share!
In 2008, he was the richest person globally. In August 2014, for the first time, the cost of Berkshire Hathaway’s shares hit $200,000 for a share, and the organization was worth a whopping $328 billion!
- Net Worth
He owns a total asset of US$70.5 billion as of April 2020, making him the fourth-wealthiest individual on the planet. However, he has also pledged to donate at least $38.8 billion.
- Unknown facts
Buffett is a superb player of the card game, Bridge—people close to him maintain that he plays the game for seven hours a day.
He is a fan of Nebraska football and even attends their matches.
He worked with Christopher Webber for an animated program, ‘Secret Millionaires Club’ that was especially aimed at children.