Warren Edward Buffett (born August 30, 1930, in Omaha) is an American stock investor, entrepreneur, and philanthropist. He is the Chief Executive Officer of the Berkshire Hathaway holding company and is regarded as one of the best investors in the world. For years, he has been listed among the richest people in the world by Forbes magazine. In 2023, his net worth was estimated at $108.3 billion.
He is often called the “Oracle of Omaha” or the “Sage of Omaha” and is known for his adherence to the principles of value investing, as well as for his frugality and modesty in his personal life, despite his immense wealth.
He is the son of Leila and Howard Buffett. His father was a stockbroker, entrepreneur, and politician, serving as a member of the House of Representatives for the Republican Party. As a young boy, Warren worked in the family grocery store in Omaha. At the age of 12, he moved with his parents to Washington, where he engaged in activities such as selling newspapers.
He studied at the Wharton School of the University of Pennsylvania, then transferred and completed his undergraduate studies at the University of Nebraska–Lincoln. In 1951, he graduated from Columbia Business School with a Master of Economics degree. He chose Columbia Business School because Benjamin Graham, whose ideas in the books Security Analysis and The Intelligent Investor Buffett greatly valued, was a finance lecturer there. After completing his studies, he returned to Omaha and took a job at his father’s company, Buffett-Falk & Company. In 1954, he accepted Benjamin Graham’s offer to work at his firm, and the Buffett family moved to New York City. They permanently returned to Omaha in 1956 after Graham retired. In the same year, Warren founded his first company.
In 1959, he met Charlie Munger, who soon became his partner and friend.
In 1962, his company, Buffett Partnership, began purchasing shares of Berkshire Hathaway, becoming its majority shareholder. In 1969, he dissolved Buffett Partnership (the company achieved an average annual return of 31.6% from 1957 to 1968). From 1991 to 1992, he served as the temporary president and chairman of the board of the investment bank Salomon Brothers.
Under Buffett’s management, Berkshire Hathaway controls large holdings in publicly traded companies, including Apple, American Express, and Coca-Cola. If you want you can check Buffett’s portfolio here: portfoliosavvy.com. His investment strategy involves acquiring large positions in a relatively small number of well-managed businesses (concentrated investing). He estimates their value using methods such as discounted cash flow analysis.