|birth date||August 30, 1930 (92 years old)|
|Born in||Omaha, Nebraska, USA|
|Marital status||married to Astrid Menks (since 2007)|
|Full name||Warren Edward Buffett|
|Children||3 (Howard Graham, Peter, Susan Alice)|
How rich is Warren Buffett?
Retirement? This is not an issue for Warren Buffett, who was born in 1930. Understandable when you’re the fourth richest man in the world. This reputation is hard earned. Warren Buffett’s estimated net worth is $101.44 billion . In order to keep it that way, or even more so, the CEO of Berkshire Hathaway has no intention of retiring. The stock market guru promises: “I plan to work until I’ve passed 100.” It remains to be seen whether he will catch up with Bill Gates or Jeff Bezos . Barack Obama presented the entrepreneur with the Presidential Medal of Freedom in 2011 .
Warren Buffett Net Worth
Warren Buffett’s wealth is inseparable from his holding company, Berkshire Hathaway. The corporation had sales of $182 billion in 2013, resulting in net income of approximately $28.8 billion. These numbers continue to increase every year. In 2014, sales were $194.7 billion and profit was $28.1 billion. In 2015, the company even managed $210.9 billion in sales and $34.9 billion in profit. The company figures were also exemplary in 2016. Revenue was $223.6 billion and profit was $33.7 billion. Berkshire Hathaway is considered one of the most valuable public companies in the United States. The more profits the company makes, the richer Warren Buffett becomes and his net worth keeps growing.
The stock market legend practices early
His father was a securities dealer , his grandfather was a shopkeeper – Warren Edward Buffett was born on August 30, 1930 in Omaha, Nebraska, with this family heritage. He showed a passion for collecting and an affinity for numbers early on. As a boy, he used both profitably by supplementing his pocket money with smaller shops in the neighborhood. At just 11 years old, the boy made his first experiences in his father’s business. Howard Homan Buffett owned an investment office in which the filius bought three shares and then sold them at a profit. The proceeds from the sale were quickly reinvested in property and business purchases.
The young Buffett remained loyal to his father’s company after completing his master’s degree in economics at the renowned Columbia University in New York in 1951. At the same time, he continued his education and began lecturing on investment issues at the University of Nebraska. In 1954 he became a securities analyst at the Graham-Newman brokerage firm. In 1956 he founded his own company, The Buffett Partnership Ltd.
In 1965, Buffett acquired Berkshire Hathaway. He gradually transformed the previous textile company into a holding company specializing in insurance. Berkshire Hathaway has a reputation for being Buffett’s “investment vehicle.” The underlying principle: to divert the capital from companies with little chance of success to more promising investments. Today, Berkshire Hathaway’s operations span more than 60 different lines of business, mostly insurance and reinsurance. Despite its status as one of America’s most valuable companies, Berkshire employs just 22 people, along with Buffett himself and Vice President Charles Munger. Warren Buffett’s annual salary: $100,000 .
Incidentally, a Berkshire Hathaway share currently costs around 176,000 euros, making it the most expensive in the world. For ordinary investors there is still an affordable B share, which is traded around 120 euros per share. The annual general meeting in Omaha is now attended by over 40,000 investors who want to hear their big idol speak.
Warren Buffett’s corporate investments
In addition to holding stakes in companies, Berkshire Hathaway often acquired entire companies. For example, in 1983 Buffet’s company took over the successful furniture retailer Nebraska Furniture Mart and in 2003 Clayton Homes, America’s largest manufacturer of trailer park accommodation. But shares in companies were also bought and expanded. Thus, Berkshire Hathaway owns 16.5% of Apple and 12.8% of the American bank Wells Fargo. The investment company also owns 11.2% of Bank of America. Shares are also held in the food sector, for example 11% in The Kraft Heinz Company and 9.8% in Coca-Cola. Berkshire Hathaway has interests in more than 25 companies. The investment sum was more than 1,000,000,000 euros for most of them. At the end of 2017 it was Value of all Buffet company investments at over 140,000,000,000 euros .
Philanthropist – Charitable donations
As one of the richest people in the world, Warren Buffett is well aware of his social duty. In 2010, together with Bill Gates, he launched a company that has set itself the task of “giving something back”. The idea behind “The Giving Pledge” – as the campaign is called – is to get as many wealthy people as possible to pledge to use their wealth for philanthropic purposes . At the beginning of 2014, 122 billionaires and their families had agreed to participate.
In 2014, Buffett bequeathed a total of $2.8 billion in Berkshire stock to charities, mostly to the Bill & Melinda Gates Foundation. The 4 family foundations were also taken into account. Between 2001 and 2012, the billionaire supported various abortion organizations with around $1.2 billion. In all, he has raised around $31 billion for philanthropy in his life to date. His most recent donation was in July 2018, where he again donated $3.4 billion to charities. After his death, 99% of all assets are to go to charitable and charitable foundations.