Who is Warren Buffett? A Biography

Biography of Warren Buffett, an investment educator and one of the richest and most respected businessmen in the world.

Warren Buffett was born in Nebraska in 1930 and had strong financial intelligence since childhood.

He founded the Buffett Partnership in 1965 with limited liability and by 1965 took control of Berkshire Hathaway.

At that time, Buffett was in charge of a business complex that had invested in media, insurance, energy, and food and beverage industries.

thus becoming one of the richest men in the world and a renowned philanthropist.

Warren Buffett’s net worth

Warren Buffett’s real estate and assets had a net worth of 123.1 billion USD (2023).

Recent Donations to Charity Between 2006 and 2017, Buffett donated $28 billion to charities, according to US Today.

In the words of the Oracle himself, “The stock market is designed to transfer money from the Active to the Patient.

” Warren Buffett’s enduring success is a testament to the wisdom of patience and the enduring power of time and compounding in the world of investing.

childhood

Warren Buffett’s biography states that his father Howard Buffett was a businessman and politician. Warren Buffett was the second of three children and the only son in the Buffett family.

Even as a child, he showed amazing talent in business.

Warren began her education at Rose Hill Elementary School in Omaha. In 1942, his father won the election to the US Congress.

after that, Warren Buffett moved to Washington DC with his family.

He continued his education there at Alice Dale Middle School.

and graduated from Woodrow Wilson High School in 1947 at the age of 17.

At that time, Warren Buffett started his career by door-to-door selling chewing gum, Coca-Cola, and weekly magazines and he also worked in his grandfather’s shop for a while.

At the age of 11, he bought three shares of Sites Service Company at a price of 37 dollars per share.

After some time, the price per share decreased to 27 dollars.

He held back and sold each share for $40 after a while. But the upward trend of the mentioned stock price continued and reached 500 dollars.

This experience later turned into one of Warren Buffett’s biggest investment lessons.

and found the message that patience is one of the basic principles of investing, which is mentioned in Warren Buffett’s biography.

Warren Buffett Education and first jobs

At the age of 16, Buffett began his studies in economics at the University of Pennsylvania.

After spending two years in Pennsylvania, he went to the University of Nebraska to finish his studies.

graduating at the age of 20 with his childhood earnings of ten thousand dollars. In 1951, he received his bachelor’s degree in economics from Columbia University.

where he attended the classes of the great economist Benjamin Graham.

After that, Warren Buffett continued his studies at the New York Financial Institute.

Buffett, inspired by Graham’s “Intelligent Investor” book, sold Buffett-Falk securities for three years.

and also worked as an analyst at Graham-Newman for two years in the service of his teacher Graham.

Berkshire Hathaway Company In his youth and after leaving school, Warren’s father and his teacher Graham tried to dissuade him from working on Wall Street.

But Warren, who was very interested in business, offered Graham to work for his company for free, but his offer was not accepted. After that, disillusioned, Warren returned to his hometown and started working in his father’s brokerage firm. In 1954, Graham had a change of heart and accepted Warren into his company. But with the closure of Graham’s company, Warren Buffett had to start his own business.

In 1956, Warren Buffett founded the Buffett Partnership Limited Liability Company in his hometown of Omaha. Using the techniques he learned from Graham, he identified many companies that were worth more than analysts’ estimates and thus became a millionaire.

One of these companies was Berkshire Hathaway Textile. He started to collect shares of this company in the early 1960s and took full control of it by 1965. Despite the success of the partnership, Buffett dissolved the company in 1969 to focus on developing Berkshire Hathaway.

Berkshire Hathaway gradually pared down Berkshire Hathaway’s textile holdings and instead expanded its holdings by buying stakes in media (The Washington Post), insurance (GEICO), and oil (Exxon).

At this time, Warren Buffett, who had now achieved great success, turned seemingly weak investments into powerful sources of money, including the scandal-ridden Solomon Brothers.

After Berkshire’s significant investment in Coca-Cola, Buffett managed the company from 1989 to 2006. Warren Buffett also manages Citigroup International Holding, Graham Holding and Gillette.

Warren Buffett Humanitarian activities

There are many philanthropic activities in Warren Buffett’s biography, and in June 2006, announcing that he would donate all his wealth to charity, he left 85% of it to the Bill and Melinda Gates Foundation.

This is the largest donation in US history. In 2010, Warren Buffett and Bill Gates launched a campaign to attract more wealthy people to philanthropy.

In 2012, Buffett announced that he was diagnosed with prostate cancer. He was treated in July of the same year and his treatment period ended by the end of November. Physical problems have little effect on the successful performance of 80-year-old Buffett, and he remains on the list of the richest people in the world in Forbes magazine.

wife and children

Warren Buffett married his longtime partner Astrid Marx in 2006 at the age of 76. Before his second marriage, Buffett was with his first wife Susan Thomson from 1952 until her death in 2004. Although the couple separated in the 70s.

He and Susan had three children: Susan, Howard, and Peter.

Warren Buffett Investment Philosophy

At the core of Warren Buffett’s success lies his investment philosophy, which emphasizes value investing.

Buffett seeks out companies with strong fundamentals, competitive advantages, and the potential for long-term growth. He famously said, “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”

One of Buffett’s most celebrated principles is the power of compound interest. He believes in holding onto investments for the long term to let compound interest work its magic. This approach has allowed him to turn relatively modest investments into colossal wealth.

Buffett’s success isn’t just about making money; it’s about a lifelong commitment to learning. He spends much of his day reading and studying, emphasizing the importance of continuous education.

Warren Buffett companies and investments

In February 2013, Buffett bought HG Heinz with personal assets worth $28 billion. Battery maker Duracell and Kraft Foods Group joined Berkshire Hathaway in 2015 to become the third largest US food and beverage company.

IBM and Apple companies In May 2017, Warren announced that he had sold about 81 million shares of IBM and believed that the value of the company had decreased compared to six years ago. After another sale in the third quarter, his stake in the company was reduced to 37 million shares. On the other hand, he increased his investment in Apple by 3% and became the largest shareholder of Bank of America by transferring 700 million shares. . At the beginning of the following year, he bought more shares of Apple, making it Berkshire Hathaway’s largest investment yet.

What is Warren Buffett’s most successful business?

Warren Buffett’s most successful and well-known business is Berkshire Hathaway. Berkshire Hathaway is a multinational conglomerate holding company that Buffett has led for many years. Under his leadership, Berkshire Hathaway has grown into one of the largest and most profitable conglomerates in the world.

Berkshire Hathaway’s success can be attributed to its diverse portfolio of subsidiary companies operating in various industries, including insurance (such as GEICO and Berkshire Hathaway Reinsurance Group), manufacturing (such as See’s Candies and Clayton Homes), utilities (such as MidAmerican Energy and PacifiCorp), and more. The company also holds significant investments in publicly traded companies like Apple, Coca-Cola, and American Express.

Buffett’s strategy of acquiring well-managed businesses with strong competitive advantages and holding onto them for the long term has been a key factor in Berkshire Hathaway’s success. The company’s ability to generate substantial profits and cash flow from its diverse holdings has contributed to its reputation as one of the most successful conglomerates in history.

Investment in medical services

On January 30, 2018, Berkshire Hathaway, JP Morgan, Chase and Amazon officially announced in a press release that they are considering a group plan to form a new healthcare company for US employees.

According to this news, the said company will not have the goals and limitations of profit-oriented companies, because it is trying to reduce costs and make the overall process of medical services easier for patients with a primary focus on technology-based solutions.

Buffett, who likened medical expenses to an insatiable leech in the American economy, said.

“We believe that supporting our common funds for the country’s brightest talents can control the increasing medical expenses in the long term and at the same time gain the satisfaction of patients.” ».

According to reports in March, Berkshire Hathaway’s HomeServices, which is in second place in the ranking of the largest owners of residential brokerage in the United States, is getting closer to the first place in this list.

Currently, Relogi NRT Company is on the first rank of this list. In the biography of Warren Buffett, he did not know much about the purchase of Homeservice by Berkshire Hathaway as part of the Mid-American Energy Company in 2000.

According to statistics, Warren Buffett currently has a fortune of 123.1 billion USD in 2023

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