Who is Warren Buffett: Biography, Personal Life and Net Worth
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| Photo: WallStreetJournal.com |
Known as the "Oracle of Omaha," Warren Buffett is an investment guru and one of the richest and most respected businessmen in the world, Bloomberg pointed out.
Who Is Warren Buffett?
Warren Buffett demonstrated keen business abilities at a young age. He formed Buffett Partnership Ltd. in 1956, and by 1965 he had assumed control of Berkshire Hathaway. Overseeing the growth of a conglomerate with holdings in the media, insurance, energy and food and beverage industries, Buffett became one of the world's richest men and a celebrated philanthropist, according to Biography.
Warren Edward Buffett was born on August 30, 1930, in Omaha, Nebraska. Buffett's father, Howard, worked as a stockbroker and served as a U.S. congressman. His mother, Leila Stahl Buffett, was a homemaker. Buffett was the second of three children and the only boy. He demonstrated a knack for financial and business matters early in his childhood: Friends and acquaintances have said the young boy was a mathematical prodigy who could add large columns of numbers in his head, a talent he occasionally demonstrated in his later years.
Buffett’s Wives: Late Susan Buffett, Astrid Menks
Late Susan Buffett
Susan, wife of Buffett, was a director of Berkshire Hathaway Inc. She was very active with social causes and gave many performances as a singer in New York. During her association with the company, she contributed millions of dollars in the form of charity to educational institutes and other organizations. She suffered from oral cancer and later at the age of 72, she breathed her last due to cerebral hemorrhage.
Astrid Menks
Astrid Menks, the new wife of Warren Buffett, is the long time companion and worked in a bar as a restaurant hostess where Susan, his first wife, used to sing. She married Buffett in the year 2004 after the demise of Susan. It is believed that Susan herself fixed the match of Astrid and Warren Buffett before she left in the year 1977 to pursue her singing career, according to Businessinsider.
Career of Warren Buffett
In 1949, He joins Columbia University and learns from Benjamin Graham. He was willing to work for Benjamin Graham, even for free, but was not offered a job.
In 1959, Buffett was introduced to Charlie Munger by his friend Edwin Davis at a dinner. Charlie Munger later becomes the Vice Chairman of Berkshire Hathaway. Munger introduces Buffett to Harry Bottle, CEO of Dempster, who cut costs, laid off workers, and turned around Dempster to generate cash. At this time, Buffett notices Berkshire Hathaway selling for $8 a share and starts buying aggressively.
In 1963, Buffett partnership becomes a single largest shareholder of Berkshire Hathaway.
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In 1967, Buffett Partnership now owns 59.5% of Berkshire Hathaway. Berkshire Hathaway pays a 10 cent dividend. This is the first and only dividend it has paid ever.
In 1976, Berkshire invests $4 million in GEICO (Insurance) when its stock price was just above $2. Buffett continually invests in GEICO until 1996, when Berkshire acquires the company. Berkshire’s subsidiary, National Fire and Marine Insurance Company, acquires Central Fire & Casualty Company, and Cypress Insurance Company.
In 1985, Buffett shuts down Berkshire Hathaway’s textile business.
In 2000, Buffett is still going strong. Berkshire acquires a long list of companies. Buffett is named the top money manager of the 20th century in a survey by the Carson Group, ahead of Peter Lynch and John Templeton.
In 2004, Bill Gates is elected as a director for Berkshire Hathaway.
In 2007, in a letter to shareholders, Buffett announces that he is looking for a young successor or perhaps successors to run Berkshire.
From 2014, as Berkshire continues to accumulate more cash, it’s capital spending will increase and you will no doubt see big deals occur going forward. Buffett has one of the most illustrious investing careers the world has ever seen. The story is not over yet, Oldschoolvalue regarded.
Being a member of Forbes
| Forbes discovered Warren Buffett in 1969 when he was just making his mark as a shrewd financier who consistently beat the market, bear or bull. Since then our editors and reporters have covered Buffett and Berkshire Hathaway—gaining access precious few have ever enjoyed—as the billionaire continues to make an indelible mark in the investing world. Herein you’ll find 15 carefully curated profiles of the Oracle of Omaha, ranging from 1969 to 2013, each one shining light on the man Buffett has become through his many years as an unparalleled capitalist-cum-philanthropist. |
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