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Warren Edward Buffett ( BUF-it; born August 30, 1930) is an American businessman, investor, and philanthropist who currently serves as the co-founder, chairman and CEO of Berkshire Hathaway. As a result of his investment success, Buffett is one of the best-known investors in the world. As of April 2024, he had a net worth of $139 billion, making him the ninth-richest person in the world. Buffett was born in Omaha, Nebraska. The son of US congressman and businessman Howard Buffett, he developed an interest in business and investing during his youth. He entered the Wharton School of the University of Pennsylvania in 1947 before graduating from the University of Nebraska at 19. He went on to graduate from Columbia Business School, where he molded his investment philosophy around the concept of value investing pioneered by Benjamin Graham. He attended New York Institute of Finance to focus on his economics background and soon pursued a business career. He later began various business ventures and investment partnerships, including one with Graham. He created Buffett Partnership Ltd. in 1956 and his investment firm eventually acquired a textile manufacturing firm, Berkshire Hathaway, assuming its name to create a diversified holding company. Buffett emerged as the company's chairman and majority shareholder in 1970. In 1978, fellow investor and long-time business associate Charlie Munger joined Buffett as vice-chairman. Since 1970, Buffett has presided as the chairman and largest shareholder of Berkshire Hathaway, one of America's foremost holding companies and world's leading corporate conglomerates. He has been referred to as the "Oracle" or "Sage" of Omaha by global media as a result of having accumulated a massive fortune derived from his business and investment success. He is noted for his adherence to the principles of value investing, and his frugality despite his wealth. Buffett has pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Bill & Melinda Gates Foundation. He founded the Giving Pledge in 2010 with Bill Gates, whereby billionaires pledge to give away at least half of their fortunes. Early life and education Warren Edward Buffett was born on August 30, 1930 in Omaha, Nebraska, as the second of three children and the only son of Leila (née Stahl) and Congressman Howard Buffett. He began his education at Rose Hill Elementary School. In 1942, his father was elected to the first of four terms in the United States Congress, and after moving with his family to Washington, D.C., Warren finished elementary school, attended Alice Deal Junior High School and graduated from what was then Woodrow Wilson High School in 1947, where his senior yearbook picture reads: "likes math; a future stockbroker". After finishing high school and finding success with his side entrepreneurial and investment ventures, Buffett wanted to skip college to go directly into business but was overruled by his father. Buffett showcased an interest in business and investing at a young age. He was inspired by a book he borrowed from the Omaha public library at age seven, One Thousand Ways to Make $1000. Much of Buffett's early childhood years were enlivened with entrepreneurial ventures. In one of his first business ventures, Buffett sold chewing gum, Coca-Cola, and weekly magazines door to door. He worked in his grandfather's grocery store. While still in high school, he made money delivering newspapers, selling golf balls and stamps, and detailing cars, among other means. On his first income tax return in 1944, Buffett took a $35 deduction for the use of his bicycle and watch on his paper route. In 1945, as a high school sophomore, Buffett and a friend spent $25 to purchase a used pinball machine, which they placed in the local barber shop. Within months, they owned several machines in three different barber shops across Omaha. They later sold the business to a war veteran for a tidy sum of $1200. Buffett's interest in the stock market and investing dated back to his schoolboy days he spent in the customers' lounge of a regional stock brokerage near his father's own brokerage office. His father took interest in cultivating and educating the young Warren's curiosity surrounding the subject of business and investing, even at one point taking him to visit the New York Stock Exchange when he was 10. At 11, he bought three shares of Cities Service Preferred for himself, and three for his sister Doris Buffett (who also became a philanthropist). At 15, Warren made more than $175 monthly delivering Washington Post newspapers. In high school, he invested in a business owned by his father and bought a 40-acre farm worked by a tenant farmer. He bought the land when he was 14 years old with $1,200 of his savings. By the time he finished college, Buffett had amassed $9,800 in savings (about $125,000 today). In 1947, Buffett matriculated at the Wharton School of the University of Pennsylvania. He would have preferred to focus on his business ventures, but enrolled due to pressure from his father. Warren studied there for two years and joined the Alpha Sigma Phi fraternity. He then transferred to the University of Nebraska where at 19, he graduated with a Bachelor of Science in business administration. After being rejected by Harvard Business School, Buffett enrolled at Columbia Business School of Columbia University upon learning that Benjamin Graham taught there. He earned a Master of Science in economics from Columbia in 1951. After graduating, Buffett attended the New York Institute of Finance. The basic ideas of investing are to look at stocks as business, use the market's fluctuations to your advantage, and seek a margin of safety. That's what Ben Graham taught us. A hundred years from now they will still be the cornerstones of investing. Business career Early business career Buffett worked from 1951 to 1954 at Buffett-Falk & Co. as an investment salesman; from 1954 to 1956 at Graham-Newman Corp. as a securities analyst; from 1956 to 1969 at Buffett Partnership, Ltd. as a general partner; and from 1970 as chairman and CEO of Berkshire Hathaway Inc. In 1951, Buffett discovered that Graham was on the board of GEICO insurance. Taking a train to Washington, D.C., on a Saturday, he knocked on the door of GEICO's headquarters until a janitor admitted him. There he met Lorimer Davidson, GEICO's vice president, and the two discussed the insurance business for hours. Davidson would eventually become Buffett's lifelong friend and a lasting influence, and would later recall that he found Buffett to be an "extraordinary man" after only fifteen minutes. Buffett wanted to work on Wall Street but both his father and Ben Graham urged him not to. He offered to work for Graham for free, but Graham refused. Buffett returned to Omaha and worked as a stockbroker while taking a Dale Carnegie public speaking course. Using what he learned, he felt confident enough to tea.... Discover the Mary Buffet David Clark popular books. Find the top 100 most popular Mary Buffet David Clark books.