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As of April 2007, Warren Buffett is the third-richest man in the world having a net worth of $52 billion. He is the Chief Executive Officer and the biggest shareholder of the Berkshire Hathaway holding firm.
He is referred by many as the ideal American, having surpassed all the odds and did things the way he thought was best despite other's contrary opinions.
He has a straightforward approach when doing business and is very decisive in all of his actions and investments without being influenced by forecasts and rumors.
He shows his tenacity in trying different kinds of businesses with his corporation and is hugely involved in the stock market. What's more intriguing and amazing than his enormous riches and talent in making money is his frugal lifestyle and humble humanitarian displays.
Warren Buffett's Get-Rich Formula
Warren Buffett was born to become a rich man. At a very young age, he was already very much into business as evidenced by his talent in solving mathematical problems mentally and reading a lot about investing and the market. At 11 years old, he worked at his father's brokerage and bought his first shares of Cities Services.
At 14, he purchased pinball machines and spent the proceeds to buy a 40-acre farm. Buffett already owned Wilson Coin Op, a pinball machine company when he graduated at Woodrow Wilson High School in Washington DC.
Buffett continued to gain more knowledge about business at Wharton School at the University of Pennsylvania, University of Nebraska and Columbia Business School. He studied under the tutelage of Benjamin Graham after which he returned to work in his father's brokerage as a salesman and Graham's company in 1954.
Two years later, he started Buffett Associates, Ltd then Buffett Partnership Limited earning more than 30% annually. The Buffett Partnerships began buying shares of Berkshire Hathaway in 1962. Seven years later, he closed his partnerships to run the company alone, redirected the assets to more amiable companies with stronger and more stable advantages in the long run. Within the next 30 years, he made Berkshire Hathaway a corporate giant and single-handedly earned billions of dollars.
The Warren Buffett Quick Bio
Full name: Warren Edward Buffett
Birth date: August 30, 1930
Birth place: Omaha, Nebraska
Company: Berkshire Hathaway
Industry: Financial, Property and Casualty Insurance
Key success traits: tenacious investor, multitalented entrepreneur, humble idealist
Additional:
Warren Buffett showed that his heart is bigger than his riches when he gave away a massive amount (over $30 billion!) to charity with 83% going to the Bill and Melinda Gates Foundation. The donation was bigger than the foundation itself and the biggest in history.
Buffett has received several recognitions and awards for his accomplishments and philanthropist actions. At present he is still very active in doing charity work and prefers to live the simple life in his old Nebraska home.
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