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Warren Edward BUFFETT

Primary Position:
Chairman
Primary Company:
Berkshire Hathaway
Estimated Net Worth:
At least $65.6 billion
Source of Wealth:
Self-Made
Age:
86
Birthday:
30 August 1930
Religion:
Agnostic
Nationality:
United States
Hometown:
Omaha, Nebraska, United States
Marital Status:
Married

Biography

Warren Buffett started young in the field of investment; he bought his first shares of Cities Service Preferred at $38 a share and sold it at a $5 profit. He delivered newspapers on his bike, for which he filed his first tax returns. He also bought 40 acres of farmland in Nebraska, from his paper route savings, and collected rent from his tenant. His interest in the investment field continued. In 1950, he graduated with a Bachelor's degree from the University of Nebraska at ...

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Education History

Institution Name:
University of Nebraska Omaha (UNO)
Qualification Name:
Bachelor's degree
Education Type:
Undergraduate
Start Date:
 
End Date:
1950
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Interesting Facts

In August 2013, Berkshire Hathaway invested around $5 billion in Bank of America, a banking and financial services provider, during its financial crisis. According to the deal, Berkshire Hathaway received preferred stock worth $5 billion with 6% of dividend paid annually. The company also received warrants for 700 million shares that can be exercised at any time with a premium of 5%. In February 2014, the terms of the agreement were planned to be changed to seek favor of the regulators towards the investment, which allowed the bank to consider preferred shares, which were worth $2.9 billion as Tire 1 capital, and also it had to wait for at least five years to redeem the preferred stock. This amendment was yet to be approved by Bank of America's shareholders.

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Interests, Passion, Hobbies

Kind of Interests, Passion and Hobbies: Card Games - Poker
Description: Buffett is a passionate poker player. The Berkshire Hathaway subsidiary NetJets hosts the NetJets Poker Invitational. Participants in the event, where Buffett regularly plays, are required to be a NetJets fractional owner.

Kind of Interests, Passion and Hobbies: Politics
Description: Buffett has donated more than $300,000 to Democratic candidates and causes.

Kind of Interests, Passion and Hobbies: Technology - Social Networks
Description: Buffett reportedly does not have a computer at home and rarely switches on a mobile phone. Though a technophobe, he joined Twitter in 2013, announcing "Warren is in the house." He reached approximately 60,000 Twitter followers in less than an hour, adding an average of 1,000 per minute.

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Philanthropy

Giving Profile: Buffett is a Trustee of the Bill & Melinda Gates Foundation, to which he has donated generously. In 2006, Buffett pledged to give away 85% of his Berkshire shares to the Bill & Melinda Gates Foundation and to four foundations set up by his family. In the same year, he also pledged to give more than $30 billion spread over 20 years to the Bill & Melinda Gates Foundation. Between 2001 and 2014, Buffett has reportedly donated more than $1 billion to pro-choice groups. Recipients include Planned Parenthood, The Susan Thompson Buffett Foundation and NARAL. In 2010, Buffett turned over $1.9 billion to the foundation. In 2011, he teamed with Gates to create the Giving Pledge, which signed up 69 wealthy individuals and families to commit to giving the majority of their wealth to philanthropy. In 2012, he donated $20 million worth of Berkshire Hathaway shares to eight unidentified charities and 10 shares to each of the 15 elementary school children who were finalists in a business contest. On his 82nd birthday, Buffett pledged to donate an additional 12.2 million Class B shares worth over $3 billion to his three children's foundations. In 2013, Buffett donated $2.6 billion worth of Berkshire Hathaway stock to five foundations, out of which the Bill & Melinda Gates Foundation received $2 billion worth of stock. Buffett participates annually in a charity auction on online platform, eBay, through the Annual Warren Buffett Charity Auction, to raise money and benefit the Glide Foundation, a nonprofit which works to alleviate suffering and break the cycles of poverty and marginalization. In July 2014, Buffett donated Berkshire Hathaway stocks worth $2.8 billion to five charitable foundations, of which the Bill & Melinda Gates Foundation received $2.1 billion and the remainder was donated to his family foundations. The Susan Thompson Buffett Foundation has reportedly donated more than $35 million to Planned Parenthood. In February 2015, Buffett's car, a 2006 Cadillac DTS, was reportedly auctioned for $122,500 to raise money to benefit Girls Incorporated of Omaha, a nonprofit which provides educational and recreational opportunities to girls in the U.S. and Canada. In July 2015, Buffett donated part of his stock in Berkshire Hathaway worth more than $2.8 billion to charity. The recipients included the Bill and Melinda Gates Foundation as well as the foundations of Buffett's family members. In July 2016, Buffett donated about $2.86 billion worth of Berkshire Hathaway stock to five charities which include: Gates Foundation, Susan Thompson Buffett Foundation, Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.

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