Warren Buffet
There was a one hour interview on CNBC with Warren Buffet, the richest man who donated $31 billion to charity. Here are some very interesting aspects of this great HUMAN:
- He bought his first share at the age of 11 and he now regrets that he started too late!
- He bought a small farm at the age of 14 with savings from delivering newspapers.
- He still lives in the same small 3-bedroom house in mid-town. Omaha that he bought after he got married 50 years ago.
- He says that he has everything he needs in that house. His house doest not wall or a fence.
- He drives his own car everywhere and doest not have a driver or security around him.
- He never travels by private jet, although he owns the worlds largest private jet company.
- His company, Berkshire Hathaway, Owns 63 companies. He writes only one letter each year to the CEOs of the companies, giving them goals for the year, He never holds meetings or calls them on regular bases. He has given his CEOs only two rules.
Rule number 1: do not lose any of your share holder’s money .Rule number 2: Do not forget rule number 1,
- He does not socialize with the high society crowed. His past time after he gets home is to make himself some pop corn and watch Television.
- Bill Gates, once met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour, But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
- Warren Buffet does not carry a cell phone, nor has a computer on his desk.
His advice to young people:
“Stay away from credit cards and invest in yourself and
Remember:
a) Money doesn’t create man but man who created money.
b) Live your life as simple as you are.
c) Don’t do what other’s say, just listen to them, but do what makes you feel good.
d) Don’t go on brand name; just wear those things in which you feel comfortable.
e) Don’t waste your money on unnecessary things; just spend on things that you really need.
f) After all it’s your life, then why give others the chance to rule your life.”
“No one can make you feel inferior without your permission, remember they are no better.”
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Stephanie Kuykenal/Bloomberg News/Landov |
Age: 77
Fortune: self made
Source: Berkshire Hathaway
Net Worth: $62.0 bil 
Country Of Citizenship: United States
Residence: Omaha, Nebraska , United States, North America
Industry: Investments
Marital Status: widowed, remarried, 3 children
Education: University of Nebraska Lincoln, Bachelor of Arts / Science
Columbia University, Master of Science
America’s most beloved investor is now the world’s richest man. Soared past friend and bridge partner Bill Gates as shares of Berkshire Hathaway climbed 25% since the middle of last July. Son of Nebraska politician delivered newspapers as a boy. Filed first tax return at age 13, claiming $35 deduction for bicycle. Studied under value investing guru Benjamin Graham at Columbia. Took over textile firm Berkshire Hathaway 1965. Today holding company invested in insurance (Geico, General Re), jewelry (Borsheim’s), utilities (MidAmerican Energy), food (Dairy Queen, See’s Candies). Also has noncontrolling stakes in Anheuser-Busch, Coca-Cola, Wells Fargo. Insurance operations flourished in 2007. “That party is over. It’s a certainty that insurance-industry profit margins, including ours, will fall significantly in 2008.” The Oracle of Omaha issued a challenge to members of The Forbes 400 in October; said he would donate $1 million to charity if the collective group of richest Americans would admit they pay less taxes, as a percentage of income, than their secretaries. Had long promised to give away his fortune posthumously. Irrevocably earmarked the majority of his Berkshire shares to charity in 2006, mostly to the Bill & Melinda Gates Foundation. Gift was valued at $31 billion on day of announcement; donation will far exceed that sum so long as Berkshire shares continue to rise.
