WARREN BUFFETT
BIOGRAPHY
One of the world’s richest men, whom the world’s richest man Bill Gates considers his best friend and inspiration. A boy from a simple family who teaches the world that it matters more than being the richest whether you can be the kindest or not. Such a successful person around whom the entire world economy revolves. Despite earning billions of dollars, whose honesty and professionalism are exemplified. We are talking about Warren Buffett or Warren Buffett, the owner of Berkshire Hathaway here.
1. Full Name – Warren Buffett
2. Nickname – Oracle of Omaha
3. Date of Birth – 30 August 1930
4. Place of Birth – Nebraska, Omaha, S. Ra. America
5. Father – Howard Buffett
6. Mata – Leela Stall
7. Wife – Susan Thompson, Astrid Manx
8. Children – Alice Howard and Peter
9. Profession – Investor
10. Company – Berkshire Hathaway
Warren Buffett is considered the owner of Berkshire Hathaway and one of the best investors in the stock market. According to the ranking released by Forbes magazine, he is one of the richest people in the world and according to the list released in 2008, his net worth is more than 62 billion US dollars. Warren Buffett was born on August 30, 1930, in the Nebraska town of Omaha. Due to being from Omaha, he is also called the Devani of Omaha or the Oracle of Omaha. Warren’s father’s name was Howard Buffett and his mother’s name was Leela Stoll.
His father also worked as an investor and advisor in the stock market, so it would not be wrong to say that Warren had inherited the art of investing. Following the footsteps of his father, he also decided to find his future in the stock market. He completed his schooling at Woodrow Wilson High School in Washington DC. After taking his degree from the Wharton School of the University of Pennsylvania, he studied management at the Columbia School of Management. Even today, he lives in his small house in Omaha, which keeps the simplicity and high thoughts of this wonderful man in front of the whole world.
Warren Buffett’s personal life
Warren Buffett’s personal life is as exciting as his professional life. His relationship with his wife Susan Thompson can be said to be sour-sweet. The couple had three children, but after a few years of marriage, they started living separately in 1977, although they never divorced. Warren married his friend Astrid Manx in 2006, just two years after Susan’s death. The friendship between these two was made by Warren’s wife Susan. Apart from this, Warren Buffett is very fond of playing bridge and for this, he used to make Bill Gates and Paul Allen his companions. He also organized a competition for the bridge on the lines of the Ryder Cup for golf. He spent his whole life with such simplicity that sometimes he was even ridiculed for this frugality, but when he told how big his heart is and donated all his wealth, then people’s minds bowed with respect towards him. This richest man in the world still drives his own car, he has no cell phone and no computer on his desk.
Warren Buffett taught the world that in the end, it doesn’t matter how much money you make, what matters is how you invest it. He donated his money and said that this is the wisest investment of my life which I have made to change millions of lives. Warren says that we all have a duty to return something to the world that gave us everything in the end.
Warren Edward Buffett (born August 30, 1930, in Omaha, Nebraska) is an American investor, businessman, and philanthropist personality. He is considered one of the world’s greatest stock market investors and is the chief executive officer (CEO) and largest shareholder of Berkshire Hathaway Company. As of February 11, 2008, He was rated as the richest person in the world by Forbes, with an estimated net worth of US$62 billion.
Often called the “Oracle of Omaha.” Despite his enormous wealth, Buffett is known for his principles of value investing and personal frugality. His 2006 annual salary was approximately $100,000, Which is much less than the remuneration of senior executives at other companies like him. When he spent $9.7 million from Berkshire’s money to buy a business jet in 1989 Then they jokingly named him “Unsupportable”,
Because in the past he himself had criticized other chief officers in this context. He still lives in the same house in Omaha’s central Dundee neighborhood that he bought in 1958 for $31,500, which is worth $7 million today.
Buffett is also a noted philanthropist. In 2006 he announced plans to donate his assets, with 83% going to the Bill & Melinda Gates Foundation. In 2007, he was named one of the 100 Most Influential People in the World by Time.
Public stance
Buffett:
According to him, the number of such consultants was increasing who do not add any value and they get compensation only on the basis of the increase in business. For this, he has repeatedly criticized the financial industry. He points to the ever-increasing volume of share buying and selling, calling it evidence that the majority of investor profits are going into the pockets of brokers and other intermediaries.
In 1998 at Harvard, he emphasized the non-productive aspect of gold: “It’s got to be dug out of the ground in Africa or somewhere else. Then we melt it, dig another pit, put it in, and then some people.” They also give money to protect him. It is of no use. If someone is watching from Mars, then he will be scratching his head.
They announced that in 2006 they paid only 19% of their total income in federal taxes, while their employees paid 33% even after earning significantly less.
He believes that the US dollar will lose its value in the long run. In his view, the growing trade deficit of the US is a matter of concern which will lead to the devaluation of the US dollar and other assets. As a result, the ownership of a large part of American wealth is passing into the hands of foreigners. This prompted Buffett to enter the forex market for the first time in 2002. Although he significantly increased his stake in 2005, Because changing interest rates increased the cost of holding currency contracts. According to Buffett, the bearish phase of the dollar will continue and he is planning to acquire some companies whose significant share of revenue comes from outside the US. Buffett invested in PetroChina Company Limited and wrote about it for the first time on the Berkshire Hathaway Company’s website,[15] as to why he would not withdraw his investment despite protests by some activists.
He is of the opinion that the world is close to the maximum capacity of its oil production and gradually this production will continue to decrease.
He is of the opinion that the government should not be in the business of gambling. According to them it is a tax on ignorance.
Buffett’s speeches are known for their mix of business and humor. Each year Buffett presides over the annual meeting of Berkshire Hathaway shareholders at Quest Center (in Omaha, Nebraska).
More than 20,000 people come to this meeting from America and abroad, due to which it has been nicknamed the “Woodstock of Capitalism”.
Buffett’s annual report and letter to Burke Shire shareholders are frequently given coverage by the financial media. In Buffett’s writings, you’ll find literary quotes from the Bible to Mae West, as well as Midwestern advice and many jokes. Few Web sites praise Buffett’s qualities While others criticize their way of doing business and reject their investment advice and decisions.
NETWORTH
As of 2018, Buffett has an estimated net worth of $84 billion. He is renowned for his value investments and personal humility to follow, despite his vast wealth. According to a report by USA Today, between 2006 and 2017, Buffett has donated $28 billion to charities.
Veteran investor Warren Buffett’s net worth has exceeded $100 billion (Rs 7.28 lakh crore). Due to the share price of Buffett’s company Berkshire Hathaway reaching a record high, his net worth has crossed 10 thousand million dollars. According to Forbes magazine, the majority of his wealth comes from Berkshire, in which he owns One-Sixth.
Berkshire is a $60 trillion company. In March, Berkshire’s stock price reached record highs and exceeded $4 million per share. Despite the Corona epidemic, Nebraska-based company Omaha informed on February 27 that there has been an improvement in operating results in the fourth quarter of 2020 last year, October-December 2020. Apart from this, due to gains in other stocks including Apple, there was a profit of 3580 thousand crores in Buffet’s profit.
The special thing is that Buffett’s net worth, the fifth richest person, would have been higher if he had not started donating Berkshire’s shares to the Bill & Melinda Gates Foundation and four family charities from 2006. Buffett previously owned a one-third stake in Berkshire. He has donated more than 4100 million dollars. According to Forbes, Buffett has promised to donate 99 percent of his net worth.
The fifth richest person in the world
Buffett is the fifth richest person in the world according to Forbes. In the Forbes list of the world’s richest people, Amazon CEO Jeff Bezos has been placed at the top with a net worth of $ 17.96 thousand million. Tesla CEO Elon Musk, the world’s second-richest person after Jeff Bezos, has an estimated net worth of 16.51 thousand crores. Bernard Arnault & Family of LVMH with a net worth of 15.85 thousand crores has been placed in the third place and Microsoft co-founder Bill Gates has been placed in the fourth place with a net worth of $ 12.56 thousand crores.
BUSINESS
Warren Buffett’s Beginning to Be an Investor
Buffett showed interest in trading and investing at an early age. He was inspired by “One Thousand Ways to Make $1000”, a book he borrowed from the Omaha Public Library at the age of seven.
Buffett used to think like an investor since childhood and the best example of this is –
In one of his first commercials, Buffett sold chewing gum, Coca-Cola bottles, and weekly magazines door-to-door, earning him over $175.
He used to work in his grandfather’s grocery store. While in high school, he made money by distributing newspapers, selling golf balls and tickets, and detailing cars, among other means.
On his first income tax return in 1944, Buffett deducted $35 for the use of his bicycle and watch on his paper route.
In 1945, as a high school student, Buffett and a friend spent $25 to buy a used pinball machine, which they kept at a local barbershop. Within months, he had several machines in three different barbershops in Omaha. He sold the business later in the year to a war veteran for $1,200.
Berkshire Hathaway
In 1956 Buffett formed the firm Buffett Partnership Limited in his hometown of Omaha. Using the techniques he learned from Graham, he was able to identify undervalued companies and became a millionaire.
There was a clothing company called Berkshire Hathaway. He began accumulating stock in the early 1960s, and by 1965 he took control of the company.
Despite the success of the Buffett Partnership, its founder focused on the development of Berkshire Hathaway in 1969.
Instead of expanding the Berkshire Hathaway company, he ended its clothing division by buying shares in companies such as media (The Washington Post), insurance (GEICO), and oil (Exxon).
Following Berkshire Hathaway’s significant investment in Coca-Cola, Buffett became a director of the company from 1989 to 2006.
Warren Buffett Investing History
He worked as an investment salesman at his father’s company, Buffett-Falk & Company, from 1951 to 1954. By the age of 20, he had already saved about $10,000 in 1950 – a testament to what a successful investor he was.
He was hired in 1954 in partnership with Benjamin Graham at a starting salary of $12,000 per year. His boss was difficult to work with and investing rules Warren Buffett and Benjamin Graham did not match. Both had different thinking about investing.
When Benjamin Graham retired in 1956, he ended his partnership with Warren Buffett. By this time Buffett had saved a large amount of money, with which he opened an investing partnership company named “Buffett Partnership Limited” in Omaha.
He began operating several other partnerships and by the end of the decade, he had seven operating partnerships. He became a millionaire in 1962 as a result of the earnings from all his partnerships.
He merged all the partnerships into one and invested in a clothing manufacturing firm called Berkshire Hathaway. He began aggressively buying shares of Berkshire Hathaway in the early 1960s and eventually took control of the company.
During the late 1960s, they transformed the Berkshire Hathaway Company’s textile business into the insurance sector, and by 1985 the last textile mills under Berkshire Hathaway had been sold.
Berkshire Hathaway acquired Salomon Inc. in 1987. bought a 12% stake and became its largest shareholder; Buffett became its director. Following a scandal in 1990, Salomon Brothers CEO John Gutfreund left the company 1991. Buffett took over as chairman until the crisis passed.
Buffett began buying stock in The Coca-Cola Company in 1988 and eventually bought up to 7% of the company for $1.02 billion. It will prove to be one of Berkshire’s best investments to date.
He traded the U.S. dollar against other currencies in 2002. Entered into forwarding contracts worth $11 billion to deliver dollars. He had earned over $2 billion as of April 2006.
In June 2006, Buffett made an announcement that he would gradually give 85% of his Berkshire holdings to five foundations, with the largest contribution going to the Bill & Melinda Gates Foundation.
He became the world’s richest person in 2008 with an estimated net worth of $62 billion by Forbes, overtaking Bill Gates, who had been No. 1 on the Forbes list for the past 13 years. The very next year, Gates took first place, and Buffett moved to second.
He formed Buffett Partnership Limited in 1956, and by 1965 he took control of Berkshire Hathaway. Complemented the growth of a conglomerate with holdings in the media, insurance, energy, and food and beverage industries.
Buffett became the richest man in the world and a famous philanthropist. He attended the New York Institute of Finance to focus on his economics background and soon began several business partnerships with Graham.
After meeting Charlie Munger, he formed the Buffett Partnership, and his firm eventually acquired a clothing manufacturing company called Berkshire Hathaway and accepted the name to form a variety of holding companies.
Buffett has been the chairman and largest shareholder of Berkshire Hathaway since 1970 and has been referred to by global media outlets as the “Magician”, “Oracle” or “Sage” of Omaha.
Following Berkshire Hathaway’s significant investment in Coca-Cola, Buffett remained the company’s chairman from 1989 to 2006. He has also served as a director of Citigroup Global Market Holdings, Graham Holdings Company and The Gillette Company.
On January 30, 2018, Berkshire Hathaway, JPMorgan Chase and Amazon issued a joint press release announcing plans to form a new healthcare company for their US employees.
In 1949, he was influenced by a book by Graham, his book was titled, The Intelligent Investor. Buffett sold securities for Buffett-Falk & Company for three years, then worked as an analyst at Graham-Newman Corp. for two years as his advisor.
EDUCATION
He started his education at Rose Hill Elementary School. In 1942, his father was elected to the United States Congress, and after moving with his family to Washington, D.C., Warren finished elementary school, attended Alice Deal Junior High School, and in 1947 from Woodrow Wilson High School Graduated.
Buffett enrolled in 1947 to study at the Wharton School of the University of Pennsylvania. He stayed for two years, going to the University of Nebraska to complete his degree.
After being rejected by Harvard Business School, he received his master’s degree in economics at Columbia University in 1951, where he studied under economist Benjamin Graham and furthered his education at the New York Institute of Finance.
Warren Buffett never intended to go to college, but even at a young age, Buffett had a knack for business. His entrepreneurial spirit was shining at the age of 6 when he bought packs of Coca-Cola and chewing gum and sold them door-to-door for a profit. Buffett then distributed newspapers and magazines, earning him about $175 per month.
Warren Buffett started his education at Hill Elementary School. At the age of 16, Buffett enrolled himself at the Wharton School of the University of Pennsylvania to study business. After complaining for two years that he knew more than his professors,
He went to the University of Nebraska in Lincoln and completed his degree. He earned a Bachelor of Science in business administration from the University of Nebraska at 19. Although rejected by Harvard, Buffett went on to Columbia University, where he earned a Master of Science in economics in 1951
Warren Buffett wanted to continue his education, so he applied to Harvard but Warren was rejected. He then found out at Columbia University, where he was delighted to find Benjamin Graham, who became his mentor and worked with him. Buffett earned his Master of Science in Economics from Columbia in 1951. Then, shortly after graduating from Columbia, he also briefly attended the New York Institute of Finance.
