Warren Buffett

Warren Edward Buffett (born August 30, 1930) is a wealthy American investor and businessman. Nicknamed the "Oracle of Omaha", Buffett has amassed an enormous fortune from astute investments, particularly his company Berkshire Hathaway, of which he holds more than 31% as of 2005. With an estimated net worth of $40 billion as of 2005, he is ranked by Forbes as the second-richest person in the world, behind Bill Gates.

Biography

Warren E. Buffett was born in Omaha, Nebraska on August 30, 1930. His father, Howard Buffett, was a stockbroker and member of Congress. Warren Buffett has two sisters, Doris and Bertie. His grandfather owned a grocery store in Omaha.

Related Topics:
Omaha, Nebraska - August 30 - 1930 - Howard Buffett - Congress

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He was educated at the University of Nebraska (transferring there from the Wharton School at the University of Pennsylvania) and took a Master's degree in economics at Columbia Business School, studying under Benjamin Graham.

Related Topics:
University of Nebraska - Wharton School - University of Pennsylvania - Master's degree - Columbia Business School - Benjamin Graham

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He went on to work for Graham at Graham-Newman where he followed Graham's value investing rules. He returned to Omaha in 1956 with no plan in mind, until someone asked Warren Buffett to manage investments for him. This was how Warren Buffett started his investment partnership, putting in his own money together with money from friends and family.

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By 1969, he had returned an average of almost 30% a year, in a market where 7% to 11% is the norm and anything more is outstanding. Later, he dissolved all partnerships, and went on to acquire a textile firm, Berkshire Hathaway.

Related Topics:
1969 - Berkshire Hathaway

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He married Susan Thompson in 1952. They separated in 1977 but remained married until her death in 2005. They had three children together. He currently lives with Astrid Menks.

Related Topics:
Susan Thompson - Astrid Menks

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Mr. Buffett has stated that virtually all of his fortune will pass to his Buffett Foundation. He is opposed in principle to the transfer of great fortunes from one generation to the next.

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