Warren Buffett (American Business Magnate)
Hi guys, I trust y’all are doing great. Today’s article is about Warren Buffet. If you’ve ever heard of the Oracle of Omaha, that’s him. He is arguably the most successful investor of the 20th century. He has amassed a personal fortune of more than $60 billion by defying prevailing investment trends.
Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is the current CEO and chairman of Berkshire Hathaway. Warren was born on August 30, 1930. He is considered one of the major successful investors around the globe. He is the world’s sixth-wealthiest person with a net worth of over $117 billion as of March 2022.
Buffett was born in Omaha, Nebraska. Point of fact, one of the things Omaha is famous for is that it is the home of Warren Buffett. Growing up, he developed an interest in business and investing, precisely in his youth. Eventually, he entered the Wharton School of the University of Pennsylvania in 1947, before he transferred to and graduated from the University of Nebraska at 19.
Moving on, he went on to graduate from Columbia Business School, where he moulded his investment philosophy around the concept of value investing pioneered by Benjamin Graham. He also attended the New York Institute of Finance to focus on his economics background and soon after, he began various business partnerships, including one with Graham.
Warren created Buffett Partnership, Ltd in 1956 and his firm eventually acquired a textile manufacturing firm called Berkshire Hathaway, assuming its name to create a diversified holding company. In 1978, Charlie Munger joined Buffett as vice-chairman.
Warren has been the chairman and largest shareholder of Berkshire Hathaway since 1970. He has since been referred to as the “Oracle” or “Sage” of Omaha by global media. He is noted for his adherence to value investing, and his inherent frugality, despite his immense wealth.
Warren Buffett is a prominent philanthropist, having pledged to give away 99% of his fortune to philanthropic causes, primarily via the Bill & Melinda Gates Foundation. He founded The Giving Pledge in 2009 with Bill Gates; here, billionaires pledge to give away, at least, half of their fortunes. In 2009, Warren Buffett was elected to the American Philosophical Society.
SOME RANDOM FACTS ABOUT WARREN BUFFETT
There’s actually so much to write about Warren. He has got so much to his name and resume, which is virtually everywhere on the internet. So I’ll instead just highlight a few random, yet, interesting facts about him. One of which is, he eats like a six-year-old: In an interview with Fortune, Warren Buffett affirmed he is “one-quarter Coca-Cola”. “If I eat 2,700 calories a day, a quarter of that is Coca-Cola. I drink at least five 12-ounce servings. I do it every day.”
For breakfast, Warren mentioned he constantly frequents McDonald’s for a bacon, egg and cheese biscuit if the market is up, or an austere two sausage patties if the market is down. On most days, Warren will visit his beloved Dairy Queen for an ice cream dessert. When he was asked how he’s managed to stay healthy with such a salty and sugary diet, he said, “I checked the actuarial tables, and the lowest death rate is among 6-year-olds. So I decided to eat like a 6-year-old.” Isn’t that fascinating? He’s got educative and interesting facts like that about him. I’m getting ahead of myself! Let’s delve right into them!
- Warren bought his first stock at age eleven.
- At sixteen, Warren made $53,000.
- He had a person well respected by him affirm him in the negative.
- He was rejected by Harvard Business school.
- Warren earned $37million daily in 2013.
- He has lived in the same house since 1958.
- A significant number of people will pay millions of dollars just to have a meal with him.
- Almost 94 per cent of his wealth was acquired after he turned 60.
- He spends 80 per cent of his day reading.
- Warren has up to 20 suits but never paid for any.
- Warren pledged to donate 85 per cent of his Berkshire Hathaway stocks to charitable foundations.
- Barack Obama awarded him the Presidential Medal of Freedom.
- Warren has the best track record for beating the market out of all legendary investors.
- When markets decline, he looks to a poem.
- He follows no one on Twitter.
- He hardly emails.
- He plays the Ukulele.
Warren married Susan in 1952, they had three children together. she died at the age of 72 after suffering a cerebral haemorrhage during the summer of 2004 in Cody, Wyoming. Bono performed “Forever Young” and “All I Want Is You” at her funeral. Warren was so grief-stricken that he did not attend. Afterwards, he married Astrid Menks in 2006 who is his wife up until this day.
Conclusively, Warren Buffett is one of the greats in history. He is seen as an extremely successful and moral investor who has made his money through dedication and diligence. He is indeed a great guy; with tremendous achievements, not just financially, but in virtually all areas of life; health, marital, mental, parental, morals and so on. He is the kind that the greats call great!
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Insightful! Warren is a great investor. My all-time favourite of his quote is: “Be fearful when others are greedy and be greedy when others are fearful”.
Thank you Celestine! Same here.