Warren Buffett

Warren Buffett is one of the richest men in the world, a market savvy investor, and perhaps the most frugal billionaire in the world. Buffett's wealth is the direct result of the investing strategies implemented in his financial firm Berkshire Hathaway, of which Buffett is CEO. He is also one of the most admired billionaires in history, for his philanthropy, his statements on the wealthy paying appropriate taxes, and his belief that inherited wealth is dangerous.

About Warren Buffett

Known for: Being one of the richest men and most successful investors in the world, and his personal frugality.
Warren Buffett was born in Omaha, Nebraska and by the time he graduated from high school in 1947, he had already saved $5,000 from delivering newspapers. This was a substantial fortune for the time. His father wanted him to go to college, but he attended Wharton Business School in Pennsylvania and dropped out after only two years, claiming he knew more than his professors.
After graduating from the University of Nebraska while working full-time, he applied to Harvard Business School, which rejected him because of his age. He then applied and was accepted to Columbia Business School where he met his financial mentor, Ben Graham, a famous investor. Buffett became a student of the Value Investing method: investing with little risk in businesses that were undervalued but had great potential, and holding the investments until they achieved great profit.

Warren Buffett's wealth: ?Buffett is consistently ranked as one of the worlds' most wealthy people, ranked number 1 in 2008 and number 3 in 2011. His personal wealth was estimated at $50 billion in 2011. Buffett is the CEO of the financial firm Berkshire Hathaway, which has created immense wealth for many of its investors over the years.

Warren Buffett’s frugality: Buffett has notably continued to live in the same home he bought in 1958 for $31,500, despite his personal wealth. He is also noted for the fact that he did not bequeath a fortune to his children, but gave them just enough money so that they could do anything, but not so much that they would feel like doing nothing. In August 2011, Warren wrote an op-ed in the New York Times stating, ’While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks,’’ and that his taxable income rate of 17.4 percent should be closer to that of middle class Americans who pay between 25 and 28 percent of their taxable income.

Warren Buffett’s philanthropy: Buffett is a notable philanthropist who has pledged to give away 99 percent of his fortune. In 2010, Warren Buffett, Bill Gates and Mark Zuckerberg all signed a pledge they called the Gates-Buffett Giving Pledge’ and are actively recruiting billionaires across the planet to join them. The Giving Pledge (givingpledge.org) calls on the super-wealthy to pledge to donate at least half their wealth to charity before they die, and as of 2011 they had gathered nearly 70 billionaires to their cause.

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