An Introduction of Warren Buffett
A genius business magnate as well as investor and philanthropist of America, Warren Buffett serves as the CEO of Berkshire Hathaway. The third wealthiest man in the world had a net worth of astounding $87.5 billion, as of February the 17th, 2018. The ‘Sage’ or ‘Oracle’ of Omaha is known for his inspiring quotes and confidence in Investments.
How did Warren Buffett start out?
Developing an interest in Business during his early years of life, Mr. Buffett moulded the philosophy of investment upon the concept of value investing, originally brought in by Benjamin Graham. The firm of Buffet Partnership, created after meeting Charlie Munger, eventually incorporated the textile manufacturing firm now known as the Berkshire Hathaway. His hands still remain at value investing, in spite of being a wealthy philanthropist, and decided to give up 99% of his wealth for philanthropic interests.
He graduated with Science & Business Administration from University of Nebraska. He joined Columbia University to attend Benjamin-Graham’s lectures and earned an MSc. in Economics in 1951 before proceeding to to join the New-York Institute of Finance.
Stairs To The Top and Few Short Retreats
In 1954, he joined Benjamin Graham’s Partnership with a starting salary of $12,000 per annum. He started the Buffett Partnership Ltd. Way back in 1956, when Graham closed his Partnership. Buffett had accumulated $174,000 by then. By 1960, Buffett was operating seven Partnerships.
He was already a billionaire by 1962 at $1,025,000 for himself. Merging all the partnerships into one, he annexed in the business of Berkshire Hathaway textile manufacturing company and made more money there on. But his constant rise was hit by the financial crisis of 2007-08, in which he had shed 77% of his earnings in Market Losses.
‘The Richest Man’ – Forbes, 2008
Buffett later on held reign and in 2008 numbered the 1st position in Forbes ‘Richest Man’ at $62 billion net worth, which he lost to Bill Gates in 2009, February. Buffett had lost $25 billion in 12 months from 2008-09.
His Major success lit up when Berkshire hit $200,000 per share at $328 billion. Buffett invested in Swiss Re’s Campaign in 2009 and accrued Burlington-Northern Santa-Fe Corp too.
Warren Buffett Alongside Business
Buffett invested in Philosophy too alongside Business and is recognised as a great �Story-teller’. He is an active Philanthropist and is one of the leaders in philanthrocapitalism.
He united with Mark Zuckerberg along with Bill Gates 2009 to found the Giving Pledge where billionaires have pledged to give up half of their wealth for the same cause as his. In 2011, he was awarded the Presidential Medal of Freedom as one of the most influential People.
Warren Buffets Other Business Profiles
Alongside Buffett’s recent campaign has seen investments and interests in Health Care, little in politics as well as coal, renewable energy and foreign investment where he liked to stick to dollar as a currency due to his concept of gold standards.
His look into Tech business is interesting as he likes to make deals on Tech Goods but is sly upon the fact of the huge popularity of Cryptocurrencies. It should also be noted that the mogul is on record as stating that he believes despite the hype on cryptocurrencies, they may soon come to a sad end.