Warren Edward Buffett is an American business magnate and investor who serves as the chairman and CEO of Berkshire Hathaway. Buffett is one of the most successful and popular investors of all time.
He was born on August 30, 1930, in Omaha, Nebraska. Being interested in business and investing, he purchased his first stock when he was just 11 years old. When he turned 13, he filed for taxes the first time. Simultaneously he learned market ethics and little ideas for profitable investment, watching investors in his father owned small brokerage. During graduation at Columbia Business School, he studied under Benjamin Graham (who became his lifelong friend later) and David Dodd. Both Graham and Dodd were well-known securities analysts. Buffett was a disciple of Benjamin Graham’s philosophy of intelligent investing.
He created Buffett Partnership, Ltd in 1956, and later acquired a textile manufacturing firm “Berkshire Hathaway” in 1962. As a value investor, Buffett saw Berkshire Hathaway cheap and bought it, regardless of the fact that he wasn’t an expert in textile manufacturing. Buffett shifted Berkshire’s focus away from its traditional endeavors, instead used it as a holding company to invest in other businesses. The upcoming decades were waiting for Buffett’s success. He bought, held and sold companies in a variety of different industries and made huge profits. He has a net worth of US$89.9 billion as of May 2019 that makes him the third wealthiest person in the world.
Buffett is a notable philanthropist, having pledged to give away 99 percent of his total earnings to philanthropic causes. He also founded “The Giving Pledge” in 2009 with Bill Gates, whereby billionaires pledge to give away at least half of their fortunes.