Warren Edward Buffett (born August 30, 1930, in Omaha, Nebraska) is an American investor, businessman and philanthropist.He is regarded as one of the world's greatest investors and is the largest shareholder and CEO of Berkshire Hathaway.With an estimated net worth of around US$62 billion,he was ranked by Forbes as the richest person in the world as of February 11, 2008.
Often called the "Oracle of Omaha,"Buffett is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth.His 2006 annual salary was about $100,000, which is small compared to senior executive remuneration in other comparable companies.When he spent $9.7 million of Berkshire's funds on a business jet in 1989, he jokingly named it "The Indefensible" because of his past criticisms of such purchases by other CEOs.He lives in the same house in the central Dundee neighborhood of Omaha that he bought in 1958 for $31,500, today valued at around $700,000.
Buffett is also a noted philanthropist.In 2006, he announced a plan to give away his fortune to charity, with 83% of it going to the Bill & Melinda Gates Foundation.He has donated around $35 billion to charity.In 2007, he was listed among Time's 100 Most Influential People in The World.He also serves as a member of the board of trustees at Grinnell College.
I Like him very much,Not because of his wealth,but his simplicity & attitude.
In this post im going to post the highlights of his one hour interview with CNBC.
After reading this one,i hope everyone will understand why he is the World's Richest Man..
Here are some very interesting aspects of his life:
1. He bought his first share at age 11 and he now regrets that he started too late!
2. He bought a small farm at age 14 with savings from delivering newspapers.
3. He still lives in the same small 3-bedroom house in mid-town Omaha , that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
4. He drives his own car everywhere and does not have a driver or security people around him.
5. He never travels by private jet, although he owns the world's largest private jet company.
6. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis. He has given his CEO's only two rules:
Rule number 1: do not lose any of your share holder's money.
Rule number 2: Do not forget rule number 1.
7. He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch Television.
8. Bill Gates, the world's richest man met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
9. Warren Buffet does not carry a cell phone, nor has a computer on his desk.
His advice to youngsters: "Stay away from credit cards and invest in yourself and Remember:
A. Money doesn't create man but it is the man who created money.
B. Live your life as simple as you are.
C. Don't do what others say, just listen to them, but do what makes you feel good.
D. Don't go on brand name; just wear those things in which you feel comfortable.
E. Don't waste your money on unnecessary things; just spend on things that you really need.
F. After all it's your life, then why give others the chance to rule your life."
