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Warren Buffett is a famous business tycoon, who is the chairman and CEO of Berkshire Hathaway. He is well known as an American Investor, who considered one of the most successful investors in the world and a celebrated philanthropist. His net worth is US$70.5 billion (as of April 2020), which makes him the fourth richest person in the world. He is known as the “Oracle of Omaha”.
Early Life & Education of Warren Buffett:
Warren Buffett was born on August 30, 1930, in Omaha, Nebraska, USA. His father, Howard, worked as a stockbroker and served as a U.S. congressman. His mother, Leila Stahl Buffett, was a homemaker.
He developed a huge interest in business and investing from his youth. Buffett often visited his father’s shop as a child and chalked in the stock prices on the blackboard in the office. He made his first investment at 11 years old by buying three shares of Cities Service Preferred at $38 per share. He completed his primary education from the University of Pennsylvania, University of Nebraska. He went on to graduate from Colombia Business School. There he molded his investment philosophy around the concept of value investing that was pioneered by Benjamin Graham.
Warren Buffett Career:
Early Business Career: Warren Buffett worked from 1951 to 1954 at Buffett-Falk & Co. as an investment salesman; from 1954 to 1956 at Graham-Newman Corp. as a securities analyst. He created Buffett Partnership, Ltd in 1956. His firm got a textile manufacturing firm called Berkshire Hathaway, assuming its name to create a varied holding company. In 1978, Charlie Munger joined Buffett as vice-chairman of the company.
After being refused by Ben Graham, Warren Buffett returned to Omaha and worked as a stockbroker while taking a Dale Carnegie public speaking course. In this time, he teaches an “Investment Principles” night class at the University of Nebraska-Omaha. He also took a Sinclair Texaco gas station as a side investment, but it was unsuccessful.
In 1954, Warren Buffett accepted a job at Graham’s partnership. Graham was a strict boss. He was adamant that stocks provide a wide margin of safety after weighing the trade-off between their price and their intrinsic value. At this time his savings were over $174,000 and he started Buffett Partnership Ltd. By 1960, Buffett operated seven partnerships. He eventually purchased 23% of the company’s outstanding shares as an activist investor. He had obtained a 50% return on investment in just two years.
In 1962, Warren Buffett became a millionaire because of his partnerships. In January 1962 had an excess of $7,178,500, of which over $1,025,000 belonged to Buffett. He merged these partnerships into one. Buffett invested in and eventually took control of a textile manufacturing firm, Berkshire Hathaway. In 1966, Buffett closed the partnership to new money. He later claimed that the textile business had been his worst trade.
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In 1979, Berkshire began to acquire stock in ABC. The newly merged company, known as Capital Cities/ABC (or CapCities/ABC), two companies also owned several radio stations in the same markets. In 1987, Berkshire Hathaway took a 12% stake in Salomon Inc., making it the largest shareholder and Buffett a director. In 1988, Buffett began buying The Coca Cola Company stock, taking up to 7% of the company for $1.02 billion. It would turn out to be one of Berkshire’s most profitable investments, and one which it still holds.
Later activity and Philanthropist:
In June 2006 Buffett announced that he would be giving his entire fortune away to charity, committing 85 percent of it to the Bill and Melinda Gates Foundation. This donation became the most massive act of charitable giving in USA history. In 2010 Buffett and Gates announced they had formed The Giving Pledge campaign to help more wealthy individuals for philanthropic causes.
Personal Life of Warren Buffett:
In 2006, Buffett married his longtime companion Astrid Menks.
Warren Buffett was previously married to his first wife Susan Thompson from 1952 until she died in 2004, although the couple separated in the 1970s. He and Susan had three children: Susan, Howard, and Peter.
Pichai Sundararajan, well known as Sundar Pichai, an Indian-born American business executive, a computer scientist. He is CEO of both Google Inc. (2015-present) and its holding company Alphabet Inc. (2019-present).
Warren Buffett quotes:
Quotes catch the embodiment of his way to deal with contributing and life. That’s why we love them. Take a look at intelligent and inspiring quotes on investing and success from Warren Buffett.
- “Price is what you pay. Value is what you get.”
- “Risk comes from not knowing what you are doing.”
- “If a business does well, the stock eventually follows.”
- “Our favorite holding period is forever.”
- “Time is the friend of the wonderful company, the enemy of the mediocre.” Etc.