Money & Savings -> The Best Businessmen in the World -> Warren Edward Buffett

Warren Edward Buffett was born on August 30, 1930, Omaha, Nebraska, USA. He is the world's biggest and one of the most famous investors. He had 47 billion U.S. dollars in 2010.He is considered the richest man in the world and second richest man in the U.S. He is known by the nickname the Oracle of Omaha.

Biography

Warren Buffett was the second of three children in the family of the politician and businessman, Howard Buffett and his wife Leila Stahl Buffett . The first school he went to was Rose Hill Elementary School in Omaha. In 1942 his father won the elections in the U.S. Congress, and after the family moved to Washington. Buffett finished Alice Deal Junior High School and Woodrow and Wilson High School.. At the age of 11, Warren tried his hand at the stock exchange, buying on his father’s borrowed money some shares of Cities Service( 38 dollars a piece). Warren earned the initial 10 thousand dollar- capital by implementing a successful business idea - pinball machines in the hairdresser’s. In 1965, Buffett bought a controlling stake in producing textile company Berkshire Hathaway, which became his main investment company for years to come. In 1967, Buffett bought a «National Indemnity Co», then GEICO. He paid $ 8.6 million and $ 17 million for them. Buffett studied under Benjamin Graham at Columbia University, New York. According to Buffett, Graham taught him how to make reasonable investments. On December 14, 2004 Bill Gates joined the board of Berkshire Hathaway, as an independent director. Berkshire Hathaway is a conglomerate, which includes GEICO (auto insurance), Benjamin Moore (paint), Fruit of the Loom (textiles) and many others. Thus this is a businessman who has a very developed intuition how to invest money.

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