Warren Buffett Biography - Profile |
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Warren
Edward Buffett Biography :
Famous American Investor - Stock Market
Guru
Famous for :
The successful Berkshire Hathaway Company,
being one of the richest men in the world,
and for being a generous philanthropist.
Buffet details
: Born - August 30, 1930 Omaha,
Nebraska, USA
/ Lives - United States of America - Omaha
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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
After Graham's retirement, Buffett returned
to Omaha and began a limited investing fund
partnership with a group of friends, family
and associates. The "Buffett Partnerships
Ltd" fund racked up amazing returns
for its investors over a ten year period,
with returns 10 times higher than the Dow
Jones Industrial average for the same time.
Buffett liquidated the fund and took control
of the textile company 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).
Selected Berkshire subsidiary companies
include:
- Borsheim's
Fine Jewelry
- Acme
Brick Company
- Buffalo
NEWS, Buffalo NY
- Clayton
Homes
- Fruit
of the Loom
- GEICO
Direct Auto Insurance
- General
Re
- Helzberg
Diamonds
- Nebraska
Furniture Mart
- The
Pampered Chef
- See's
Candies
- United
States Liability Insurance Group
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
 Buffett
is a generous philanthropist and was giving
more than $USD12 million each year to
the Buffett Foundation (no called the
"Susan Thompson Buffett Foundation").
His largest charitable donation was to
be upon his death when he had planned
to give 99% of his massive fortune to
the 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.
Read more about the Warren
Buffett philanthropy plans.
Warren Buffett
becomes the Richest Man in the World in
2008
Warren Buffett finally knocked Bill
Gates out of first position to become
the richest
man in the world in 2008 on
the world rich list according to the Forbes
business magazine.
Lunch with Warren
Buffett
Find out more about the Warren
Buffett power lunch auction for charity,
where the billionaire spends time with
the winning bidder and seven friends at
a Smith and Wollensky steakhouse restaurant
in New York. The winning bid for lunch
with Warren Buffett in 2008 was an impressive
$2.1 million paid by Zhao Danyang of the
Pureheart China Growth Investment Fund.
This Warren Buffett biography may
not be reproduced online.
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