- Warren Buffett is the chairman and CEO of Berkshire Hathaway.
- Buffett is known as the Oracle of Omaha for his keen sense of investing in the stock market.
- Buffett has pledged to give away 99% of his income over his lifetime.
Philanthropic entrepreneur and investor Warren Buffett holds the number three position on the Forbes list of richest people in the world. He is surpassed only by Amazon's Jeff Bezos in the number one spot and Microsoft's Bill Gates in the number two spot. Buffett's net worth is currently valued at around $63 billion dollars, although this figure is prone to move up or down by billions as the stock market fluctuates.
The Oracle of Omaha
Buffett made his first stock investment at age eleven and has built a fortune ever since. A native of Omaha, Nebraska, Buffett is known as “The Oracle of Omaha” because of his impeccable understanding and incredible success in the stock market. As one of the world’s richest investors, Buffett is often sought out by financial institutions and other investors wanting to know how to better forecast the stock market and manage risk.
Buffett’s main strategy in investing is to seek value in discounted stocks and hold on to them as investments for the long term rather than the short term. Many investors think buying and selling in the short term is what can make them the most money. However, as seen with Buffett’s monumental track record, long-term investment strategies are often the better option.
As the head of Berkshire Hathaway, a holding company, Buffett has amassed an empire of business and enterprise. Companies that are part of the Berkshire Hathaway family include Geico, Duracell, and Dairy Queen, among other multimillion-dollar companies and famous brands.
Despite having enough money to buy homes anywhere in the world, Buffett still remains in the first house he ever bought in Omaha. He purchased the residence in 1958 for $31,500. Of course, it is currently worth many more times than that. However, it shows that for all his wealth, Buffett is a humble man who prefers to live simply.
While Buffett is clearly a wizard in the business and investing world, he was originally rejected as an applicant to Harvard Business School. However, he was accepted to Columbia, where he earned his master’s degree in economics. He had previously completed his undergraduate degree closer to home at the University of Nebraska-Lincoln.
A Generous Billionaire
As a multi-billionaire, Buffett has copious funds with which to be charitable. He is indeed known for his generosity to many different causes. In fact, he has pledged to give away all but 1% of his fortune to charities and nonprofit organizations.
In 2019 alone, Buffett gave away $3.6 billion to worthy causes. The majority of that sum went to the Bill and Melinda Gates and Foundation, as he is friends with the billionaire couple. The Gates foundation awards grants to organizations that encourage people to lead healthy and productive lives, particularly in developing countries.
In 2010, Gates joined Buffett in launching the Giving Pledge, which charges other billionaires to give away half of their wealth to charity
According to Forbes, Buffett has already given away $35.1 billion over his lifetime, which equates to 28% of his net worth. Even in times of stock market unrest, Buffett still remains firmly seated in billionaire territory.