Warren Buffett is an American business magnate, investor, speaker, author and philanthropist who serves as the chairman and CEO of Berkshire Hathaway.
The billionaire is considered as one of the richest persons in the world; third to be precise, and dubbed the “Wizard,” “Sage”, or “Oracle” of Omaha by global media outlets. Warren’s influence spans across the United State and Oxford University research described his investment methodology as falling within “founder centrism”.
Warren Buffett Biography, Age
Born on August 30, 1930, in Omaha, Nebraska, Warren Buffett is the second among three children. He is the only son of Leila and Howard Buffett, a businessman and a politician.
Buffett demonstrated his business acumen at a young age and through his days as a youth, he developed an interest in investment and eventually enrolled in Wharton School of the University of Pennsylvania in 1947 before transferring to the University of Nebraska from where he graduated at the age of 19 with a degree in Business Administration.
He also enrolled in Columbia Business School after being rejected by Havard Business School. Buffet acquired a Master of Science in Economics from Columbia in 1951, and it further molded his investment philosophy.
Afterwards, he attended the New York Institute of Finance to focus his economics background and soon after, began various business partnerships that include Benjamin Graham who was a huge influence on Buffett. He created Buffett Partnership, Limited in 1956 and his firm eventually acquired a textile manufacturing firm called Berkshire Hathaway and with the name, he created a diversified holding company.
Warren Buffett’s net worth is estimated at $86 billion which places him at number three on the list of the richest people in the world, behind Jeff Bezos, and his good friend Bill Gates. The overwhelming majority of his worth is in Berkshire Hathaway and its shares. That means his net worth is known to fluctuate quite a bit and despite that, it continues to remain astronomically high.
In 2017, it was revealed that Buffett’s income at the age of 14, in 1944, was $592.50. His income tax at that time was reported to be $7, as per US rules which mandated anyone earning more than $500 to file tax returns.
Warren Buffett’s House
Despite his billions, Warren Buffett’s house, located in a quiet neighborhood of Omaha, Nebraska, is not only surprisingly modest but also the same one he has lived in since purchasing it in 1958 for the sum of $31,500 an amount that would be equivalent to about $250,000 or more currently.
The house, which is now worth an estimated $652,619, is considered a measly .001% of his entire wealth. Buffett thinks the house is the “third-best investment he’s ever made.”
According to him, he and his family had “gained 52 years of terrific memories with more to come.”
There have been upgrades and additions to the property since 1958. It has 5 bedrooms and 2 ½ bathrooms and was built in 1921. The stucco home is just a mile away from Buffett’s Berkshire Hathaway offices with 6234 square foot and is located in the Happy Hollow neighborhood of Omaha, Nebraska.
Buffett also has a vacation home, in Laguna Beach, California which he sold in 2005 for almost $6 million, after nine years of ownership. The home, located in the Emerald Bay section of Laguna Beach, was valued at 1.05 million.
This typically means, the top richest man in the world has only one house and for him, stocks are better investments than real estate.
Warren Buffett’s Quotes
You’ll drift in a better direction by picking out associates whose behavior is better than yours because it’s better to hang out with people better than you.
2. Everything in life has a time flam, therefore, you can’t produce a baby in one month by getting nine women pregnant. It takes time to get results, no matter how great the talent or efforts.
3. If you think deep, you’ll do things differently because it takes 20 years to build a reputation and five minutes or less to ruin it.
4. To get extraordinary results, it is not necessary to do extraordinary things.
5. You owe it to the rest of humanity to think about the other 99% If you’re in the luckiest 1% of humanity.
6. You don’t need to be a rocket scientist to be a good investor because investment is not a game where the guy with the 160 IQ beats the guy with 130 IQ.
7. Value is what you get and Price is what you pay.
8. Because someone planted a tree a long time ago, someone’s sitting in the shade today
9. Simple behavior is more effective, but business schools reward difficult complex behavior more than simple behavior.
10. You do things when the opportunities come along. Because I’ve had periods in my life when I’ve had a bundle of ideas come along and a long dry spells as well. Therefore if I get an idea next week, I’ll do something. If not, I won’t do a damn thing because delay is dangerous.
11. The energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks, should you find yourself in a chronically leaking boat.
12. As long as you don’t do too many things wrong, you only have to do a very few things right in your life
13. If history was all that is needed to play the game of money, the richest people would be librarians.
14. Never invest in a business you can’t understand.
15. Lead your people as though their lives depend on your success but focus on your customers.
16. The poor invest in money, the rich invest in time.
17. If you are in a poker game and after 20 minutes you don’t know who the patsy is, then you’re the patsy.
18. I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.
19. You discover who’s been swimming naked only when the tide goes out.
20. The rearview mirror is always clearer than the windshield in the business world.
21. Not knowing what you’re doing is where Risk developed from.
22. Until they are too heavy to be broken the chains of habit are too light to be felt.