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Warren Buffett Bio

 

Warren Buffet

Often regarded as the greatest investor of all-time, Warren Buffet was born on August 30, 1930 in Omaha, Nebraska. The son of stockbroker, Howard Buffet, he began working at his father's brokerage at the young age of 11. He also made his first stock purchase that year, securing Cities Services shares for $37 each. Buffet attended the Wharton School at the University of Pennsylvania, but later transferred (reportedly because he believed he knew more than the school’s professors) to the University of Nebraska.

He earned a Master's degree in economics in 1951 at Columbia Business School, and went to work as a salesman for his father's brokerage. In 1956, 26-year-old Buffet established his first investment partnership, Buffet Associates, Ltd., and later added other partnerships which were consolidated as Buffet Partnership Limited.

He ran the partnerships out of his bedroom, and by 1962, they had begun acquiring shares of the large textile manufacturing company, Berkshire Hathaway. Today, the company generates revenues of approximately $81.663 billion annually, and Buffet has amassed a personal fortune of $36 billion dollars.Berkshire Hathaway's annual shareholders' meeting in Omaha, Nebraska, is regarded as a special event, drawing approximately 20,000 international visitors and garnering the nickname "Woodstock of Capitalism".

In letters and annual reports to his shareholders Buffett is known to use quotes from a range of literature, anything from the Bible to Mae West.

Buffet’s annual report to shareholders often reflect his sense of humor, quoting literary witticisms which also serve as investment advice.In 1962, Buffet married first wife, Susan Thompson, with whom he had three children: Susie, Howard, and Peter. Susan passed away in 2004, although the couple had by that time been leading separate lives for over 15 years. In 2006, Buffet married long-time companion, Astrid Menks.Famous for his frugality, Buffet lives minimally, opting to not carry a cell phone or use a computer in his office.

He also continues to live in the same house in Omaha that he bought in 1958 for $31,500.In June 2006, Buffet made the largest act of charitable giving in United States history when he committed to give away his fortune to charity, with 85% going to the Bill and Melinda Gates Foundation.

Bill Gates, who trumps Buffet as the first richest person in the world, is a close friend and bridge player.Although he also announced plans to also donate billions to his daughter’s Susan Thompson Buffet Foundation and the other charities headed by his three children, Buffet has previously stated his disdain for passing down wealth to his own children rather than donating it to charity.

In an interview with Jeff Hull of the Financial Post, Warren Buffett was quoted as saying, his only tax advisor is President George W Bush. He commented on the disparity between the rich and the poor in America and that he beleived the wealthy should take responsibilty for the poor.

In a conversation with Jeff Hull, the Financial Post's "insider" at the

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