Warren Buffett Biography

Warren Buffett was one of the three children of Howard and Leila Buffett. He had two sisters. His father was a four-term U.S. congressman.

Warren Buffett enrolled at the Wharton School of the University of Pennsylvania in 1947, where he studied for two years. He shifted to University of Nebraska–Lincoln from where he graduated with a Bachelor of Science in business administration.

Warren attended Columbia Business School and earned a Master of Science in economics in 1951. There he had the privilege of attending classes taught by Benjamin Graham and David Dodd.

Warren Buffett  worked at his father’s company, Buffett-Falk & Co. from 1951 to 1954, as an investment salesman. By the age of 20, he had already amassed savings worth almost $10,000 in 1950 — this showed what an astute investor he was.

He started operating several other partnerships and by the end of the decade he had seven partnerships operating. He became a millionaire in 1962, as a result of his earnings from all his partnerships.

During the late 1960s, he shifted the business from textile into the insurance sector and by 1985, the last of the textile mills under Berkshire Hathaway had been sold off.

Berkshire Hathaway purchased a 12% stake in Salomon Inc. in 1987, and became its largest shareholder; Buffett became its director. Following a scandal in 1990, John Gutfreund the CEO of Salomon Brothers left the company in 1991. Buffett took over as chairman till the crisis passed.

Buffett began buying stocks in Coca-Cola Company in 1988, eventually purchasing up to 7% of the company for $1.02 billion. It would prove to be one of Berkshire’s best ever investments.

In June 2006, Warren Buffett made an announcement that he would be gradually giving away 85% of his Berkshire holdings to five foundations, the largest contribution of which would go to the Bill and Melinda Gates Foundation.

He became the richest person in the world in 2008, with a total net worth estimated at $62 billion by Forbes, overtaking Bill Gates who had been the No.1 on Forbes list for the past 13 years. The very next year, Gates regained the first position and Buffett moved to second place.

Warren Buffett was presented with the Presidential Medal of Freedom by President Barack Obama in 2011.

Warren Buffett married Susan Thompson in 1952. The couple had three children. Susan left him in 1977, to pursue her own career and started living separately. They never divorced and remained legally married till Susan’s death in 2004.

He was diagnosed with prostate cancer in April 2012, and has successfully completed his treatment.

According to Forbes, in 2022, Warren Buffett's net worth is $129.7 billion.

Warren Buffett still lives in the same modest house in Omaha, Nebraska. Despite his immense wealth, he chooses to live a simple and frugal lifestyle.

Buffett is known for his love of junk food, particularly Cherry Coke and hamburgers. He is often seen dining at fast food restaurants like McDonald's and Dairy Queen.

Buffett plays the ukulele and is a self-taught musician. He has even performed at various events and charity functions.

In his younger days, Buffett delivered newspapers, sold chewing gum, and even set up pinball machines in barber shops to make money.

Buffett is an avid bridge player and has even competed in bridge tournaments.