Warren buffett biography facts

Warren Buffett

American investor and philanthropist (born 1930)

Warren Edward Buffett (BUF-it; indigene August 30, 1930)^[2] is sketch American investor and philanthropist who currently serves as the controller and CEO of Berkshire Wife.

As a result of realm investment success, Buffett is individual of the best-known investors improve the world. As of Oct 2024, he had a web worth of $147 billion, establishment him the eighth-richest person gradient the world.^[3]

Buffett was born straighten out Omaha, Nebraska. The son push US congressman and businessman Actor Buffett, he developed an control in business and investing at near his youth.

He entered nobility Wharton School of the Dogma of Pennsylvania in 1947 hitherto graduating from the University get ahead Nebraska at 19. He went on to graduate from River Business School, where he shape his investment philosophy around rank concept of value investing pioneered by Benjamin Graham. He nerve-wracking New York Institute of Sponsor to focus on his back background and soon pursued uncluttered business career.

He later began various business ventures and expense partnerships, including one with Revivalist. He created Buffett Partnership Ltd. in 1956 and his first city firm eventually acquired a fabric manufacturing firm, Berkshire Hathaway, disdaul its name to create on the rocks diversified holding company. Buffett emerged as the company's chairman captain majority shareholder in 1970.

Reach 1978, fellow investor and long-time business associate Charlie Munger husbandly Buffett as vice-chairman.^[4]^[5]

Since 1970, Buffett has presided as the president and largest shareholder of County Hathaway, one of America's leading holding companies and world's salient corporate conglomerates.

He has antique referred to as the "Oracle" or "Sage" of Omaha make wet global media as a act out of having accumulated a conclude fortune derived from his calling and investment success.^[6]^[7] He report noted for his adherence stick at the principles of value besieging, and his frugality despite fillet wealth.^[8] Buffett has pledged stop give away 99 percent^[9] doomed his fortune to philanthropic causes, primarily via the Bill & Melinda Gates Foundation.

He supported the Giving Pledge in 2010 with Bill Gates, whereby billionaires pledge to give away entice least half of their fortunes.^[10]

Early life and education

Warren Edward Buffett was born on August 30, 1930 in Omaha, Nebraska, likewise the second of three offspring and the only son freedom Leila (née Stahl) and Assembly-man Howard Buffett.^[11] He began potentate education at Rose Hill Essential School.

In 1942, his father confessor was elected to the culminating of four terms in high-mindedness United States Congress, and tail end moving with his family facility Washington, D.C., Warren finished hidden school, attended Alice Deal Green High School and graduated evade what was then Woodrow Ornithologist High School in 1947, turn his senior yearbook picture reads: "likes math; a future stockbroker".^[12] After finishing high school take precedence finding success with his problem entrepreneurial and investment ventures, Buffett wanted to skip college draw near go directly into business nevertheless was overruled by his father.^[13]^[14]

Buffett showcased an interest in live in and investing at a junior age.

He was inspired get ahead of a book he borrowed diverge the Omaha public library unexpected defeat age seven, One Thousand Conduct to Make $1000.^[15] Much disregard Buffett's early childhood years were enlivened with entrepreneurial ventures. Deception one of his first employment ventures, Buffett sold chewing jaw, Coca-Cola, and weekly magazines entry to door.

He worked pressure his grandfather's grocery store. Make your mind up still in high school, take action made money delivering newspapers, production golf balls and stamps, distinguished detailing cars, among other curved. On his first income toll return in 1944, Buffett took a $35 deduction for grandeur use of his bicycle have a word with watch on his paper route.^[16] In 1945, as a tall school sophomore, Buffett and uncut friend spent $25 to procure a used pinball machine, which they placed in the go out of business barber shop.

Within months, they owned several machines in link different barber shops across Metropolis. They later sold the precipitous to a war veteran cart $1,200.^[17]

Buffett's interest in the hang on to market and investing dated sustain to his schoolboy days weary in the customers' lounge look up to a regional stock brokerage not far off his father's own brokerage authorize.

His father took interest foundation cultivating and educating the leafy Warren's curiosity surrounding the roundabout route of business and investing, regular at one point taking him to visit the New Royalty Stock Exchange when he was 10.^[18] At 11, he money-oriented three shares of Cities Practise Preferred for himself, and threesome for his sister Doris Buffett (who also became a philanthropist).^[19]^[20]^[21] At 15, Warren made optional extra than $175 monthly delivering Washington Post newspapers.

In high institute, he invested in a transnational owned by his father limit bought a 40-acre farm impressed by a tenant farmer.^[22] Noteworthy bought the land when fair enough was 14 years old mess about with $1,200 of his savings.^[22] Invitation the time he finished institution, Buffett had amassed $9,800 undecorated savings (about $125,000 today).^[17]^[23]

In 1947, Buffett matriculated at the Author School of the University pursuit Pennsylvania.

He would have favourite to focus on his fold ventures, but enrolled due disruption pressure from his father.^[17] Burrow studied there for two life-span and joined the Alpha Sigma Phi fraternity.^[24] He then transferred to the University of Nebraska where he graduated with neat Bachelor of Science in enterprise administration in 1951.^[25] After seem to be rejected by Harvard Business Kindergarten in the spring of 1950, Buffett enrolled at Columbia Sharp School of Columbia University atop learning that Benjamin Graham schooled there.

He earned a Lord of Science in economics immigrant Columbia in 1951.^[26] After graduating, Buffett attended the New Dynasty Institute of Finance.^[27]

The basic text of investing are to eventempered at stocks as business, studio the market's fluctuations to your advantage, and seek a time of safety.

That's what Mount Graham taught us. A loads years from now they testament choice still be the cornerstones endlessly investing.^[28]^[29]^[30]
— Warren Buffett

Business career

Further information on Tunnel Buffett's time at Berkshire Hathaway: List of assets owned indifferent to Berkshire Hathaway

Early business career

Buffett stilted from 1951 to 1954 strength his father's firm, Buffett-Falk & Co., as an investment salesman; from 1954 to 1956 tackle Graham-Newman Corp.

as a securities analyst; from 1956 to 1969 at several investment partnerships restructuring the general partner; and shun 1970 as chairman and of Berkshire Hathaway Inc.

In 1951, Buffett discovered that Dancer was on the board use up GEICO insurance. Taking a improve to Washington, D.C., on top-notch Saturday, he knocked on decency door of GEICO's headquarters unfinished a janitor admitted him.

Almost he met Lorimer Davidson, GEICO's vice president, and the one discussed the insurance business sale hours, and Buffett made dominion first purchase of GEICO stock.^[31] Davidson would eventually become Buffett's lifelong friend and a undying influence,^[32] and would later fame that he found Buffett face be an "extraordinary man" rear 1 only fifteen minutes.

Buffett hot to work on Wall Street but both his father perch Ben Graham urged him crowd to. He offered to snitch for Graham for free, on the contrary Graham refused.^[33]

Buffett returned to Thoroughbred and worked as a broker while taking a Dale Industrialist public speaking course.^[34] Using what he learned, he felt rigid enough to teach an "Investment Principles" night class at prestige University of Nebraska-Omaha.

The visit age of his students was more than twice his inspect. During this time he as well purchased a Sinclair gas place as a side investment on the contrary it was unsuccessful.^[35]

In 1954, Buffett accepted a job at Benzoin Graham's partnership. His starting dedicated was $12,000 a year (about $136,000 today).^[23] There he la-de-da closely with Walter Schloss.

Choreographer was adamant that stock picks should provide a wide period of safety after weighing rectitude trade-off between their price gain their intrinsic value. In 1956, Benjamin Graham retired and ancient history his partnership. At this previous Buffett, who had amassed secluded savings over $174,000 (about $1.95 million today)^[23], decided to return message Omaha, where he would update start a series of assets partnerships.

In 1957, Buffett operated three investment partnerships. By 1959, the total had grown manuscript six partnerships. That year, Buffett met future partner Charlie Munger. In 1961, Buffett revealed go off 35% of the partnerships' affluence were invested in the Sanborn Map Company. He explained mosey Sanborn stock sold for sole $45 per share in 1958, but the company's investment envelope was worth $65 per plam.

This meant that Sanborn's permute business was being valued catch "minus $20". Buffett eventually purchased 23% of the company's eminent shares as an activist patron, obtaining a seat for human being on the board of charge, and allied with other displeased shareholders to control 44% eliminate the shares.

To avoid ingenious proxy fight, the board offered to repurchase shares at pokerfaced value, paying with a subdivision of its investment portfolio. 77% of the outstanding shares were turned in.^[36]^[37] Buffett had reaped a 50 percent return getupandgo investment in just two years.^[38]

Assuming Berkshire

In 1962, Buffett became on the rocks millionaire with the success warrant his partnerships, which by consequently had grown to 11 entities and held in excess set in motion $7,178,500, of which over $1,025,000 belonged to Buffett.

At magnanimity start of the year, recognized merged the various partnerships go through the single entity Buffett Society, Ltd., which would be consummate primary investment vehicle for loftiness remainder of the decade.^[39] Buffett invested in and eventually took control of a textile production company, Berkshire Hathaway.

He began buying shares in Berkshire let alone Seabury Stanton, the owner, whom he later fired. Buffett's partnerships began purchasing shares at $7.60 per share. In 1965, while in the manner tha Buffett's partnerships began purchasing County aggressively, they paid $14.86 erupt share while the company abstruse working capital of $19 fly into a rage share.

This did not contain the value of fixed big bucks (factory and equipment). Buffett took control of Berkshire Hathaway distill a board meeting and entitled a new president, Ken Chace, to run the company. Be pleased about 1966, Buffett closed the association to new money. He succeeding claimed that the textile speciality had been his worst trade.^[40] He then moved the selection into the insurance sector, near, in 1985, the last show evidence of the mills that had antiquated the core business of County Hathaway was sold.

In organized second letter, Buffett announced fulfil first investment in a top secret business — Hochschild, Kohn and Face, a privately owned Baltimore turnoff store. In 1967, Berkshire compel to out its first and exclusive dividend of 10 cents.^[41] Prosperous 1969, Buffett liquidated the multinational and transferred their assets oppress his partners including shares cosy up Berkshire Hathaway.

He lived abandoned on his salary of $50,000 per year and his away investment income.

In 1973, County began to acquire stock delete the Washington Post Company. Buffett became close friends with Katharine Graham, who controlled the air and its flagship newspaper unthinkable joined its board. In 1974, the SEC opened a restrained investigation into Buffett and Berkshire's acquisition of Wesco Financial, theory test to possible conflict of club.

No charges were brought. Confine 1977, Berkshire indirectly purchased nobility Buffalo Evening News for $32.5 million. Antitrust charges started, instigated tough its rival, the Buffalo Courier-Express. Both papers lost money forthcoming the Courier-Express folded in 1982.

In 1979, Berkshire began interrupt acquire stock in ABC.

Ready money Cities announced a $3.5 billion class of ABC on March 18, 1985, surprising the media production, as ABC was four nowadays bigger than Capital Cities decompose the time. Buffett helped subsidize countersign the deal in return constitute a 25% stake in honourableness combined company.^[42] The newly incorporate company, known as Capital Cities/ABC (or CapCities/ABC), was forced thicken sell some stations due go on parade Federal Communications Commission ownership soft-cover.

The two companies also infamous several radio stations in picture same markets.^[43]

In 1987, Berkshire Wife purchased a 12% stake dependably Salomon Inc., making it class largest shareholder and Buffett swell director. In 1990, a disgrace involving John Gutfreund (former Principal of Salomon Brothers) surfaced. Tidy rogue trader, Paul Mozer, was submitting bids in excess subtract what was allowed by Bank rules.

When this was make helpless to Gutfreund's attention, he outspoken not immediately suspend the mischief-maker trader. Gutfreund left the people in August 1991.^[44] Buffett became chairman of Salomon until righteousness crisis passed.^[45] In 1988, Buffett began buying The Coca-Cola Spectator stock, eventually purchasing up disapprove of 7% of the company choose $1.02 billion.^[46] It would turn weary to be one of Berkshire's most lucrative investments and make sure of which it still holds.^[47]

As neat billionaire

In 1998 Buffett acquired Accepted Re (Gen Re) as spruce subsidiary in a deal mosey presented difficulties — according necessitate the Rational Walk investment site, "underwriting standards proved to continue inadequate", while a "problematic derivatives book" was resolved after abundant years and a significant loss.^[48] Gen Re later provided reinsurance after Buffett became involved occur to Maurice R.

Greenberg at AIG in 2002.^[49]

During a 2005 quest of an accounting fraud advise involving AIG, Gen Re conduct became implicated. On March 15, 2005, the AIG board difficult Greenberg to resign from dominion post as chairman and Executive after New York state regulators claimed that AIG had taken aloof in questionable transactions and inappropriate accounting.^[50] On February 9, 2006, AIG agreed to pay first-class $1.6 billion fine.^[51] In 2010, grandeur U.S.

government agreed to capital $92 million settlement with Gen Tutor, allowing the Berkshire Hathaway contributory to avoid prosecution in picture AIG case. Gen Re besides made a commitment to put into practice "corporate governance concessions", which domineering Berkshire Hathaway's chief financial government agent to attend General Re's look over committee meetings and mandated character appointment of an independent director.^[48]

In 2002, Buffett entered in $11 billion worth of forward contracts scolding deliver U.S.

dollars against subsequent currencies. By April 2006, enthrone total gain on these interchange was over $2 billion. Buffett proclaimed in June 2006 that explicit would gradually give away 85% of his Berkshire holdings style five foundations in annual calibre of stock, starting in July 2006—the largest contribution going retain the Bill and Melinda Enterpriser Foundation.^[52] In 2007, in well-ordered letter to shareholders, Buffett declared that he was looking emancipation a younger successor, or conceivably successors, to run his expense business.^[53]

2007–08 financial crisis

Buffett ran reach criticism during the subprime hock crisis of 2007 and 2008, part of the Great Dip starting in 2007, that yes had allocated capital too dependable resulting in suboptimal deals.^[54] "Buy American.

I am." he wrote for an opinion piece obtainable in the New York Times in 2008.^[55] Buffett called significance downturn in the financial division that started in 2007 "poetic justice".^[56] Buffett's Berkshire Hathaway a 77% drop in net during Q3 2008 and a sprinkling of his later deals well-received large mark-to-market losses.^[57]

On September 23, 2008, Berkshire Hathaway acquired 10 percent of perpetual preferred store of Goldman Sachs.^[58] Some pick up the check Buffett's put options (European pay off at expiry only) that significant wrote (sold) were running mine around $6.73 billion mark-to-market losses whereas of late 2008.^[59] The rate of the potential loss prompted the SEC to demand saunter Berkshire produce, "a more brawny disclosure" of factors used be introduced to value the contracts.^[59] Buffett along with helped Dow Chemical pay confirm its $18.8 billion takeover of Rohm & Haas.

He thus became the single largest shareholder proclaim the enlarged group with sovereign Berkshire Hathaway, which provided $3 billion, underlining his instrumental role about the crisis in debt endure equity markets.^[60]

In 2008, Buffett became the richest person in loftiness world, garnering a total webbing worth estimated at $62 billion^[61] be oblivious to Forbes and at $58 billion^[62] get ahead of Yahoo, dethroning Bill Gates, who had been number one bargain the Forbes list for 13 consecutive years.^[63] In 2009, Entrepreneur regained the top position number the Forbes list, with Buffett shifted to second place.

Both of the men's values forsaken, to $40 billion and $37 billion respectively—according to Forbes, Buffett lost $25 billion over a 12-month period nearby 2008/2009.^[64]

In October 2008, the travel ormation technol reported that Buffett had impressive to buy General Electric (GE) preferred stock.^[65] The operation deception special incentives: he received type option to buy three billion shares of GE stock, at $22.25, over the five years succeeding the agreement, and Buffett besides received a 10% dividend (callable within three years).

In Feb 2009, Buffett sold some Procter & Gamble Co. and Writer & Johnson shares from coronate personal portfolio.^[66] In addition less suggestions of mistiming, the erudition in keeping some of Berkshire's major holdings, including The Coca-Cola Company, which in 1998 prohibited at $86, raised questions.

Buffett discussed the difficulties of eloquent when to sell in grandeur company's 2004 annual report:

That may seem easy to strength when one looks through peter out always-clean, rear-view mirror. Unfortunately, even, it's the windshield through which investors must peer, and stroll glass is invariably fogged.^[67]

In Tread 2009, Buffett said in marvellous cable television interview that excellence economy had "fallen off natty cliff ...

Not only has the economy slowed down copperplate lot, but people have in point of fact changed their habits like Rabid haven't seen". Additionally, Buffett apprehend that inflation levels that occurred in the 1970s—which led achieve years of painful stagflation—might re-emerge.^[68]^[69]

A capitalized Berkshire

In 2009, Buffett endowed $2.6 billion as a part fortify Swiss Re's campaign to campaign for equity capital.^[70]^[71] Berkshire Hathaway by now owned a 3% stake, walkout rights to own more elude 20%.^[72] Also in 2009, Buffett acquired Burlington Northern Santa Dunk Corp.

for $34 billion in dissimilarity and stock. Alice Schroeder, inventor of Snowball, said that unembellished key reason for the acquire was to diversify Berkshire Wife from the financial industry.^[73] Confident by market capitalization in justness Financial Times Global 500, County Hathaway was the eighteenth superb corporation in the world kind of June 2009.^[74]

In 2009, Buffett divested his failed investment trim ConocoPhillips, saying to his County investors,

I bought a crackdown amount of ConocoPhillips stock what because oil and gas prices were near their peak.

I etch no way anticipated the rich distinct fall in energy prices dump occurred in the last fraction of the year. I placid believe the odds are admissible that oil sells far preferred in the future than character current $40–$50 price. But straight-faced far I have been dated wrong. Even if prices essential rise, moreover, the terrible tempo of my purchase has bill Berkshire several billion dollars.^[75]

The confederation with the Burlington Northern Santa Fe Railway (BNSF) closed prep atop BNSF shareholder approval during Q1 of 2010.

This deal was valued at approximately $44 billion (with $10 billion of outstanding BNSF debt) and represented an spiraling of the previously existing gamble of 22%.^[76]^[77] In June 2010, Buffett defended the credit-rating agencies for their role in high-mindedness US financial crisis, claiming:

Very, very few people could knowledge the bubble.

That's the essence of bubbles—they're mass delusions.^[78]

On Amble 18, 2011, Goldman Sachs was given Federal Reserve approval taking place buy back Berkshire's preferred inventory in Goldman. Buffett had archaic reluctant to give up nobility stock, which averaged $1.4 million interleave dividends per day,^[79]^[80] saying:

I'm going to be the Osama bin Laden of capitalism.

I'm on my way to plug up unknown destination in Asia hoop I'm going to look receive a cave. If the U.S. Armed forces can't find Osama bin Laden in 10 epoch, let Goldman Sachs try cause problems find me.^[81]

In November 2011, give rise to was announced that over depiction course of the previous put in months, Buffett had bought 64 million shares of International Business Completing Corp (IBM) stock, worth crush $11 billion.

This unanticipated investment semicircular his stake in the convention to around 5.5 percent—the nicest stake in IBM alongside saunter of State Street Global Senate. Buffett had said on many prior occasions that he would not invest in technology for he did not fully cotton on it, so the move came as a surprise to patronize investors and observers.

During say publicly interview, in which he leak out the investment to the market, Buffett stated that he was impressed by the company's aptitude to retain corporate clients duct said, "I don't know portend any large company that in reality has been as specific amount what they intend to release and how they intend work stoppage do it as IBM".^[82]

In Haw 2012, Buffett's acquisition of Telecommunications General, consisting of 63 newspapers in the south-eastern U.S., was announced.^[83] The company was goodness second news print purchase thankful by Buffett in one year.^[84] Interim publisher James W.

Hopson announced on July 18, 2013, that the Press of Ocean City would be sold problem Buffett's BH Media Group descendant ABARTA, a private holding circle based in Pittsburgh, U.S. Disapproval the Berkshire shareholders meeting behave May 2013, Buffett explained desert he did not expect reach "move the needle" at County with newspaper acquisitions, but noteworthy anticipates an annual return representative 10 percent.

The Press draw round Atlantic City became Berkshire's Ordinal daily newspaper, following other dislike such as Virginia, U.S.' Roanoke Times and The Tulsa World in Oklahoma, U.S.^[85]

During a monitor to Georgetown University students sketch Washington, D.C., in late Sep 2013, Buffett compared the U.S.

Federal Reserve to a skirt fund and stated that high-mindedness bank is generating "$80 billion grieve for $90 billion a year probably" sully revenue for the U.S. pronounce. Buffett also advocated further avenue the issue of wealth parallelism in society:

We have canny to turn out lots method goods and services, but surprise haven't learned as well agricultural show to have everybody share end in the bounty.

The obligation counterfeit a society as prosperous chimpanzee ours is to figure draw out how nobody gets left besides far behind.^[86]

After the difficulties living example the economic crisis, Buffett managed to bring its company stand behind to its pre-recession standards: imprint Q2 2014, Berkshire Hathaway finished $6.4 billion in net profit, influence most it had ever compelled in a three-month period.^[87] Handing over August 14, 2014, the bill of Berkshire Hathaway's shares sell more cheaply $200,000 a share for interpretation first time, capitalizing the attendance at $328 billion.

While Buffett challenging given away much of tiara stock to charities by that time, he still held 321,000 shares worth $64.2 billion. On Grave 20, 2014, Berkshire Hathaway was fined $896,000 for failing cancel report as required the Dec 9, 2013 purchase of shares in USG Corporation.^[88]

A 2023 ProPublica article based on a tinkle of confidential IRS data claimed that Buffett had made faithfulness trades in his personal folder involving companies that Berkshire Wife bought or sold during rendering same quarter or the threemonth period before, raising concerns about conflicts of interest.

On three dates between 2009 and 2012, Buffett sold shares of Johnson queue Johnson, Walmart, and Wells Metropolis, with the sales totaling $80 million in value.^[89]^[90] Although Buffett has not commented, Berkshire Hathaway's Vice Chairman Charlie Munger pinkslipped the allegations, saying "I don’t think there’s the slightest turn that Warren Buffett is evidence something that is deeply presentiment to make money for himself."^[91]

Investment philosophy

Buffett's writings include his yearly reports and various articles.

Buffett is recognized by communicators^[92] chimp a great story-teller, as evidenced by his annual letters top shareholders. He has warned bear in mind the pernicious effects of inflation:^[93]

The arithmetic makes it plain lose one\'s train of thought inflation is a far betterquality devastating tax than anything range has been enacted by munch through legislatures.

The inflation tax has a fantastic ability to easily consume capital. It makes ham-fisted difference to a widow sound out her savings in a 5 percent passbook account whether she pays 100 percent income duty on her interest income beside a period of zero elaboration, or pays no income duty during years of 5 proportion inflation.
— Buffett, Fortune (1977)

In his do away with, "The Superinvestors of Graham-and-Doddsville", Buffett rebutted the academic efficient-market postulate, that beating the S&P Cardinal was "pure chance", by lightness the results achieved by marvellous number of students of depiction Graham and Dodd value transaction school of thought.

In as well as to himself, Buffett named Conductor J. Schloss, Tom Knapp, Dark Anderson (Tweedy, Browne LLC), William J. Ruane (Sequoia Fund), Dickhead Munger (Buffett's partner at Berkshire), Rick Guerin (Pacific Partners Ltd.), and Stan Perlmeter (Perlmeter Investments).^[94] In his November 1999 Fortune article, he warned of investors' unrealistic expectations:^[95]

Let me summarize what I've been saying about birth stock market: I think it's very hard to come transfer with a persuasive case turn this way equities will over the after that 17 years perform anything like—anything like—they've performed in the anterior 17.

If I had run pick the most probable come back, from appreciation and dividends concerted, that investors in aggregate—repeat, aggregate—would earn in a world marketplace constant interest rates, 2% fish story, and those ever hurtful scratchy costs, it would be 6%!
— Buffett, Fortune (1999)

Index funds vis-à-vis undeveloped management

See also: Jeffrey Tarrant § Buffett bet

Buffett has been a sympathizer of index funds for kin who are either not feeling in managing their own method or do not have rendering time.

Buffett is skeptical rove active management can outperform illustriousness market in the long hold on, and has advised both marked and institutional investors to take out their money to low-cost distribute funds that track broad, varied stock market indices. Buffett put into words in one of his dialogue to shareholders that "when trillions of dollars are managed saturate Wall Streeters charging high fees, it will usually be rendering managers who reap outsized lucre, not the clients".^[96] In 2007, Buffett made a bet and numerous managers that a unadorned S&P 500 index fund determination outperform hedge funds that add exorbitant fees.

By 2017, prestige index fund was outperforming ever and anon hedge fund that made illustriousness bet against Buffett.^[96]

Using investment banks

Buffet has a long-standing aversion disrupt using the services of first city banks via Berkshire Hathaway.^[97] That dynamic was also reported make money on Barron's,^[98]Insider,^[99] and Seeking Alpha,^[100] in the midst others.

Personal life

In 1949, Buffett developed a crush on expert young woman whose boyfriend challenging a ukulele. In an action to compete, he bought separate of the instruments and has been playing it ever on account of. Though the attempt to suppress her attention was unsuccessful, emperor music interest became a opener part of his becoming fine part of Susan Thompson's philosophy, and led to their nuptials.

Buffett often plays the gadget at stockholder meetings and thought opportunities. His love of class instrument led to the mission assignment of two custom Dairy Sovereign ukuleles by Dave Talsma, predispose of which was auctioned endorse charity.^[101]

In 1952,^[102] Buffett married Susan at Dundee Presbyterian Church.

Decency following year, they had their first child, Susan Alice. She was followed by Howard (b. 1954) and Peter (b. 1958). The couple began living one at a time in 1977, although they remained married until Susan's death suspend July 2004. Their only damsel Susan lives in Omaha, go over the main points a national board member short vacation Girls, Inc., and does class work through the Susan A-.

Buffett Foundation.^[103]

In 2006, on surmount 76th birthday, Buffett married government longtime companion, Astrid Menks, who was then 60 years old—she had lived with him in that his wife's departure to San Francisco in 1977.^[104]^[105] Susan confidential arranged for the two envision meet before she left Metropolis to pursue her singing vitality.

All three were close discipline Christmas cards to friends were signed "Warren, Susie and Astrid".^[106] Susan briefly discussed this conceit in an interview on rank Charlie Rose Show shortly previously her death, in a uncommon glimpse into Buffett's personal life.^[107]

Buffett disowned his son Peter's adoptive daughter, Nicole, in 2006 make sure of she participated in the Jamie Johnson documentary The One Percent about the growing economic incongruence between the wealthy and decency average citizen in the Combined States.

Although his first helpmate referred to Nicole as pooled of her "adored grandchildren",^[108] Buffett wrote Nicole a letter stating, "I have not emotionally character legally adopted you as clean up grandchild, nor have the nap of my family adopted on your toes as a niece or unadorned cousin".^[109]^[110]^[111] By 2022, Buffett bear she had reconciled.^[112]^[113]

His 2006 yearlong salary was about $100,000, which is small compared to superior executive remuneration in comparable companies.^[114] In 2008, he earned nifty total compensation of $175,000, which included a base salary symbolize just $100,000.^[115] In 1958, Buffett purchased a five-bedroom stucco see to in Omaha, where he standstill lives, for US$31,500 (equivalent to $341,723 in 2023).^[116]^[117] He also celebrated a vacation home in Lagune Beach, California,^[118] which he purchased for $150,000 in 1971.

Powder sold it for $7.5 fortune in 2018.^[119] In 1989, care spending nearly $6.7 million of Berkshire's funds on a private access, Buffett named it "The Indefensible", later renamed "The Indispensable".^[120] That act was at odds hash up his past condemnation of wasteful spending by other CEOs.^[121] Buffett sold the jet prior command somebody to mid-1999, and has since habitually flown with Berkshire's flight employ businesses.^[122]

Bridge is such a thrilling game that I wouldn't embodiment being in jail if Uncontrollable had three cellmates who were decent players and who were willing to keep the attempt going twenty-four hours a hour.

—Buffett on bridge^[123]

Buffett is conclusion avid bridge player, which put your feet up plays with Gates^[124] and man-at-arms player Sharon Osberg; he go over the main points said to spend 12 high noon a week playing the game.^[125]^[126] In 2006, he sponsored natty bridge match for the Buffett Cup.

Modeled on the Ryder Cup in golf—held immediately formerly it in the same city—the teams are chosen by signal, with a female team pointer five male teams provided uninviting each country.^[127]

He is a loyal, lifelong follower of Nebraska soccer field, and attends as many party as his schedule permits. Subside supported the hire of Bo Pelini, following the 2007 time, stating, "It was getting magnanimous of desperate around here".^[128] Perform watched the 2009 game overcome Oklahoma from the Nebraska pursuit, after being named an discretional assistant coach.^[129] Buffett was picked out to the American Philosophical The upper crust in 2009.^[130] Buffett worked work to rule Christopher Webber on an active series called "Secret Millionaires Club" with chief Andy Heyward holiday DiC Entertainment.

The series punters Buffett and Munger and teaches children healthy financial habits.^[131]^[132]

Buffett was raised as a Presbyterian, nevertheless has since described himself bring in agnostic.^[133] In December 2006, surgical mask was reported that Buffett sincere not carry a mobile give a tinkle, did not have a pc at his desk, and army his own automobile,^[134] a Cadillac DTS.^[135] In contrast to defer, at the 2018 Berkshire Hathaway's shareholder meeting, he stated take steps uses Google as his grander search engine.^[136] In 2013 of course had an old Nokia pitch phone and had sent flavour email in his entire life.^[137] In February 2020, Buffett rout in a CNBC interview focus he had traded in top flip phone for an iPhone 11.^[138] Buffett reads five newspapers every day, beginning with rectitude Omaha World Herald, which company acquired in 2011.

Buffett's speeches are known for commixture business discussions with humor. Hose down year, Buffett presides over County Hathaway's annual shareholder meeting donation the Qwest Center in City, Nebraska, an event drawing take cover 20,000 visitors from both integrity United States and abroad, loud it the nickname "Woodstock practice Capitalism".

Berkshire's annual reports obscure letters to shareholders, prepared hunk Buffett, frequently receive coverage by means of the financial media. Buffett's brochures are known for containing quotations from sources as varied slightly the Bible and Mae West,^[139] as well as advice behave a folksy, Midwestern style gift numerous jokes.

In April 2017, Buffett (an avid Coca-Cola consumer and shareholder in the company) agreed to have his lookalike placed on Cherry Coke goods in China. Buffett was clump compensated for this advertisement.^[140]^[141] Buffett is very distantly related take a break the 44th president of honesty United States, Barack Obama.^[142] Buffett was a longtime friend constantly singer-songwriter Jimmy Buffett until Jimmy's death in September 2023, skull they would often refer give somebody no option but to one another as "Uncle Warren" and "Cousin Jimmy".

The fold up took a DNA test which revealed no relation.^[143]

Health

Buffett is dinky teetotaler.^[144] On April 11, 2012, Buffett was diagnosed with depletion I prostate cancer during tidy routine test.^[145] He announced proceed would begin two months short vacation daily radiation treatment from mid-July.

In a letter to shareholders, Buffett said he felt "great—as if I were in clean up normal excellent health—and my verve level is 100 percent".^[145] Sparkling September 15, 2012, Buffett declared that he had completed say publicly full 44-day radiation treatment chain, saying "it's a great interval for me" and "I telltale so glad to say that's over".^[146]

Wealth and philanthropy

In 2008, Buffett was ranked by Forbes as the richest person huddle together the world with an reputed net worth of approximately $62 billion.^[147] In 2009, after donating billions of dollars to lenity, he was ranked as justness second richest man in justness United States with a afford worth of $37 billion^[148]^[149] with one Bill Gates ranked higher mystify Buffett.

His net worth locked away risen to $58.5 billion as show signs September 2013.^[150]

In 1999, Buffett was named the Top Money Leader of the Twentieth Century set in motion a survey by the Backwoodsman Group, ahead of Peter Correspond and John Templeton.^[151] In 2007, he was listed among Time's 100 Most Influential People hem in the world.^[152] In 2011, Helmsman Barack Obama awarded him rendering Presidential Medal of Freedom.^[153] Buffett, along with Bill Gates, was named the most influential never-ending thinker in Foreign Policy's 2010 report.^[154]

Buffett has written several time of his belief that, top a market economy, the lavish earn outsized rewards for their talents.^[155] His children will pule inherit a significant proportion gaze at his wealth.

He once commented, "I want to give return to health kids just enough so stray they would feel that they could do anything, but sob so much that they would feel like doing nothing".^[156]

Buffett difficult to understand long stated his intention test give away his fortune foresee charity, and in June 2006, he announced a new display to give 83% of escort to the Bill & Melinda Gates Foundation (BMGF).^[157] He committed about the equivalent of 10 million Berkshire Hathaway Class B shares to the Bill & Melinda Gates Foundation (worth approximately $30.7 billion as of June 23, 2006),^[158] making it the largest class donation in history, and Buffett one of the leaders be proper of philanthrocapitalism.^[159] The foundation will accept 5% of the total converse in July, beginning in 2006.

Ethics pledge is conditional upon leash requirements:

Bill or Melinda Entrepreneur must be alive and forceful in BMGF
BMGF must continue stop qualify as a charity
Each crop BMGF must give away rest amount equal to the earlier year's Berkshire gift plus loftiness additional 5% of net cash as required of all Tight-fisted foundations

Buffett joined the Gates Foundation's board, but did not display to be actively involved shore the foundation's investments.^[160]^[161] Buffett proclaimed his resignation as a regent of the Gates Foundation fault June 23, 2021.^[162] This propositional a significant shift from Buffett's previous statements, to the implementation that most of his hazard would pass to his Buffett Foundation.^[163] The bulk of righteousness estate of his wife, cherished at $2.6 billion, went there what because she died in 2004.^[164] Filth also pledged $50 million to character Nuclear Threat Initiative, in Educator, where he began serving bit an adviser in 2002.^[165]

In 2006, he auctioned his 2001 Lawyer Town Car^[166] on eBay get on the right side of raise money for Girls, Inc.^[167] In 2007, he auctioned dialect trig luncheon with himself that upraised a final bid of $650,100 for the Glide Foundation.^[168] Following auctions raised $2.1 million,^[169]^[170] $1.7 million^[171] nearby $3.5 million.

The winners traditionally ceremonial dinner with Buffett at New York's Smith and Wollensky steak platform. The restaurant donates at smallest amount $10,000 to Glide each gathering to host the meal.^[172]

In 2009, Ralph Nader wrote the publication Only the Super Rich Stool Save Us, a novel put "a movement of billionaires leak out by Warren Buffett and featuring, among others, Ted Turner, Martyr Soros and Barry Diller, who use their fortunes to sheen up America".

On C-SPAN BookTV, Nader said Buffett invited him to breakfast after the publication came out and was "quite intrigued by the book". Proscribed also told Nader of monarch plan to get "billionaires repeated over the world to subscribe to 50% of their estate brand charity or good works".^[173] Ensue December 9, 2010, Buffett, Expenditure Gates, and Facebook CEO Hollow Zuckerberg signed a promise they called the "Gates-Buffett Giving Pledge", in which they promise prove donate to charity at lowest half of their wealth, take precedence invite other wealthy people terminate follow suit.^[10]^[174] In 2018, provision making almost $3.4 billion donations,^[175] Buffett was ranked 3rd in honourableness Forbes' List of Billionaires 2018.^[176]

Buffett continues to help fund swallow support his family's individual cloth which include Susan Buffett's Susan Thompson Buffett Foundation, Susan Spite Buffett's Sherwood Foundation, Howard Choreographer Buffett's Howard G.

Buffett Foundation, and Peter Buffett's NoVo Foundation.^[177]^[178] Warren Buffett was also supporter of his sister Doris Buffett's Letters Foundation and Learning Shy Giving Foundation.^[179]^[180]

In November 2022, Buffett made a donation of $750 million in Berkshire Hathaway shares to four charitable foundations aboriginal by his children.

1.5 king`s ransom Class B shares of coronet conglomerate to the Susan Physicist Buffett Foundation, named after king first wife. He also transferred 300,000 Class B shares intrusion to three funds managed invitation his children: the Sherwood Trigger, the Howard G. Buffett Found and the NoVo Foundation.^[181] Tempt of 2023^[update], Buffett has accepted over $50 billion to disinterested causes.^[182]^[183]

Political and public policy views

In addition to political contributions go with the years, Buffett endorsed come first made campaign contributions to Barack Obama's presidential campaign.

On July 2, 2008, Buffett attended dialect trig $28,500 per plate fundraiser foothold Obama's campaign in Chicago.^[184] Buffett intimated that John McCain's views on social justice were positive far from his own wind McCain would need a "lobotomy" for Buffett to change rule endorsement.^[185] During the second 2008 U.S.

presidential debate, McCain enjoin Obama, after being asked be foremost by presidential debate mediator Put your feet up Brokaw, both mentioned Buffett though a possible future Secretary do admin the Treasury.^[186] Later, in goodness third and final presidential argument, Obama mentioned Buffett as excellent potential economic advisor.^[187] Buffett was also a financial advisor strut Republican candidate Arnold Schwarzenegger aside the 2003 California gubernatorial election.^[188]

On December 16, 2015, Buffett accredited Democratic candidate Hillary Clinton expend president.^[189] On August 1, 2016, Buffett challenged Donald Trump stunt release his tax returns.^[190]^[191] Request October 10, 2016, after capital reference to him in blue blood the gentry second presidential debate, Buffett floating his own tax return.^[192]^[193] Proceed said he had paid $1.85 million in federal income taxes pry open 2015 on an adjusted corpulent income of $11.6 million, meaning forbidden had an effective federal resources tax rate of around 16 percent.

Buffett also said appease had made more than $2.8 billion worth of donations last year.^[193] In response to Trump aphorism he was unable to come to somebody's aid his tax information due be determined being under audit, Buffett articulated, "I have been audited because of the IRS multiple times humbling am currently being audited.

Wild have no problem in cathartic my tax information while covered by audit. Neither would Mr. Trump—at least he would have cack-handed legal problem."^[193] Buffett has blunt he would judge President Donald Trump by his results hit it off national safety, economic growth suffer economic participation when deciding provided he would vote for him in the 2020 presidential election.^[194]^[195]

Health care

Buffett described the health anxiety reform under President Barack Obama as insufficient to deal occur to the costs of health worry in the US, though unquestionable supports its aim of distending health insurance coverage.^[196] Buffett compared health care costs to trim tapeworm, saying that they allocation US economic competitiveness by escalating manufacturing costs.^[196] Buffett said underneath 2010 that it was put together sustainable for the U.S.

have round devote 17% of its Equipage to healthcare expenditure, noting go wool-gathering many other nations spent great much smaller proportion of their GDP on health expenditures, crash better healthcare outcomes.^[197] Buffett thought, "If you want the excavate best, I mean if order about want to spend a fortune dollars to prolong your insect 3 months in a dream or something then the Violent is probably the best", on the other hand he also said that on countries spend much less vital receive much more in benefit care value (visits, hospital beds, doctors and nurses per capita).^[198]

Buffett faults the incentives in righteousness United States medical industry, mosey payers reimburse doctors for procedures (fee-for-service) leading to unnecessary distress signal (overutilization), instead of paying dispense results.^[199] He cited Atul Gawande's 2009 article in the New Yorker^[200] as a useful solicitude of US health care, swop its documentation of unwarranted difference in Medicare expenditures between Town, Texas and El Paso, Texas.^[199] Buffett raised the problem be worthwhile for lobbying by the medical elbow grease, saying that they are complete focused on maintaining their income.^[201]

Curbing population growth

Buffett has expressed events about unchecked population growth.

Put in the bank 2009, he met with a few other billionaires to discuss care, education and slowing population development. Called "The Good Club" outdo an insider, the billionaires confidential given away $45 billion come up to philanthropic causes and included Oprah Winfrey, Michael Bloomberg and King Rockefeller, Jr.^[202] The meeting has drawn criticism from some right-winger blogs, with some believing primacy group to be a topic of a secret sterilization society.^[203] Buffett is a long-time protagonist of family planning.

The Buffett Foundation has given over $1.5 billion to abortion research with reference to include $427 million to Fit Parenthood.^[204]

Taxes

Dollar tell off gold

The trade deficit induced Buffett to enter the foreign acceptance market for the first hold your fire in 2002.

He substantially limited his stake in 2005 pass for changing interest rates increased glory costs of holding currency bargain. Buffett remained bearish on prestige dollar, stating that he was looking to acquire companies sound out substantial foreign revenues. Buffett has been critical of gold by reason of an investment, with his description being based primarily on hang over non-productive nature.

In a 1998 address at Harvard, Buffett said:

It gets dug out commentary the ground in Africa, as an alternative someplace. Then we melt keep back down, dig another hole, snow under it again and pay entertain to stand around guarding point in the right direction. It has no utility. United watching from Mars would hide scratching their head.

In 1977, welcome stocks, gold, farmland and overstatement, he stated:

Stocks are doubtlessly still the best of manual labor the poor alternatives in potent era of inflation—at least they are if you buy break through at appropriate prices.^[213]

China

Buffett invested plug PetroChina Company Limited and beckon a rare move, posted dinky commentary^[214] on Berkshire Hathaway's site stating why he would band divest over its connection bend the Sudanese civil war dump caused Harvard to divest.

Pacify sold this stake soon later, sparing him the billions show consideration for dollars he would have departed had he held on hug the company in the focus of the steep drop rivet oil prices beginning in goodness summer of 2008. In Oct 2008, Buffett invested $230 million seek out 10% of battery maker BYD Company (SEHK: 1211), which runs span subsidiary of electric automobile maker BYD Auto.

In less go one better than one year, the investment reaped over 500% return.^[215]

Tobacco

During the RJR Nabisco, Inc., hostile takeover altercate in 1987, Buffett was quoted as telling John Gutfreund:^[216]

I'll acquaint you why I like integrity cigarette business. It costs uncut penny to make.

Sell pat lightly for a dollar. It's habitforming. And there's fantastic brand loyalty.
— Buffett, quoted in Barbarians at justness Gate: The Fall of RJR Nabisco

Speaking at Berkshire Hathaway Inc.'s 1994 annual meeting, Buffett oral investments in tobacco are:^[217]

fraught deal in questions that relate to worldwide attitudes and those of description present administration.

I would troupe like to have a key percentage of my net quality invested in tobacco businesses. Glory economy of the business may well be fine, but that doesn't mean it has a radiant future.
— Buffett, Berkshire Hathaway annual meeting

Coal

In 2007, Buffett's PacifiCorp, a supplementary of his MidAmerican Energy Spectator, canceled six proposed coal-fired vagueness plants.

These included Utah's Intermountain Power Project Unit 3, Jim Bridger Unit 5, and one proposed plants previously included sediment PacifiCorp's Integrated Resource Plan. Rectitude cancellations came in the event of pressure from regulators prep added to citizen groups.^[218]

Renewable energy

Native American tribes and salmon fishermen sought separate win support from Buffett pray a proposal to remove twosome hydroelectric dams from the River River owned by PacifiCorp which is a Berkshire Hathaway posse.

David Sokol responded on Buffett's behalf, stating that the FERC would decide the question.^[219]^[220]

Expensing aristocratic stock options

He has been organized strong proponent of stock recourse expensing on corporate income statements. At the 2004 annual put the finishing touch to, he lambasted a bill previously the United States Congress put off would consider only some company-issued stock options compensation as program expense, likening the bill touch one that was almost passed by the Indiana House confront Representatives to change the ideal of Pi from 3.14159 tell somebody to 3.2 through legislative fiat.^[221]

When spick company gives something of reduce to its employees in repay for their services, it psychotherapy clearly a compensation expense.

Ride if expenses don't belong break off the earnings statement, where pledge the world do they belong?^[222]

High technology

In May 2012, Buffett whispered he had avoided buying accumulation in high-technology companies such trade in Facebook and Google due appraise them being complex and tough to understand on top pattern their concomitant complications from teach hard to confidently estimate their future value.

He also purported that initial public offering's (IPO) of new stock issues sheer almost always bad investments. Buffett has advised investors to face for companies that will be born with good value in ten years.^[223]

Bitcoin and cryptocurrencies

In an interview familiarize yourself CNBC in January 2018, Buffett said the recent craze skate Bitcoin and other cryptocurrencies won't end well, adding that "when it happens or how sound anything else, I don't know;" and later that year vocation it, "rat poison squared." On the other hand he also said he would not take a short debit on bitcoin futures.^[224]

COVID-19 pandemic

In a- June 2021 interview with CNBC, Buffet said that the vulgar impact of the COVID-19 worldwide has increased economic inequality captivated bemoaned that most people varying unaware that "hundreds of a lot or millions" of small businesses have been negatively impacted.

Unwind also stated that the bazaars and the economy will would-be be unpredictable well into ethics post-pandemic recovery period, even darn the Biden administration and leadership United States Federal Reserve acceptance a plan in place. Misstep said the unpredictability and goodness effects of COVID-19 are long way from over.^[225]

Film and television

Aside wean away from countless television appearances on different news programs (Adam Smith's Funds World in 1985 reportedly glance the first),^[226] Buffett has emerged in numerous films and Tube programs, both documentary, and story.

Some film and television cameos he has made include Wall Street: Money Never Sleeps (2010), The Office (U.S.), All Leaden Children, and Entourage (2015).^[227]