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WARREN BUFFETT

American businessman and philanthropist
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Also known as: Warren Edward Buffett
Written and fact-checked byThe Editors of Encyclopaedia Britannica
The Editors of Encyclopaedia Britannica
Encyclopaedia Britannica's editors oversee subject areas in which they have
extensive knowledge, whether from years of experience gained by working on that
content or via study for an advanced degree. They write new content and verify
and edit content received from contributors.

Updated: May 15, 2024•Article History

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Mario Tama—Getty Images/Thinkstock
in full:Warren Edward Buffett
born:August 30, 1930, Omaha, Nebraska, U.S. (age 93)
Awards And Honors:Presidential Medal of Freedom (2011)
Recent News
May 16, 2024, 9:31 PM UTC(AP)Stock market today: Wall Street edges back from
records after Dow briefly tops 40,000
May 15, 2024, 11:30 PM UTC(AP)Warren Buffett's Berkshire Hathaway reveals new $7
billion stake in Swiss insurer Chubb
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WHAT IS WARREN BUFFETT KNOWN FOR?

Warren Buffett, known as the "Oracle of Omaha," is an American businessman and
philanthropist, widely considered the most successful investor of the 20th
century. He has amassed a personal fortune of more than $60 billion by defying
prevailing investment trends.


WHAT IS WARREN BUFFETT'S PRIMARY INVESTMENT VEHICLE?

In 1965 Warren Buffett took majority control of the textile manufacturer
Berkshire Hathaway Inc., turning it into his primary investment vehicle. From
the 1960s through the ’90s Berkshire Hathaway’s publicly traded shares gained
about 28 percent per year. Buffett’s success with Berkshire Hathaway made him
one of the world’s wealthiest men.


WHAT CHARITIES DOES WARREN BUFFETT DONATE MONEY TO?

In June 2006 Warren Buffett announced that he would donate more than 80 percent
of his wealth to charitable foundations. The main recipient was the Bill &
Melinda Gates Foundation, which is focused on issues of world health and
education. The other organizations were those run by Buffett’s three children
and the Susan Thompson Buffett Foundation, named for his late wife.


WHEN WAS WARREN BUFFETT AWARDED THE PRESIDENTIAL MEDAL OF FREEDOM?

Warren Buffett was awarded the Presidential Medal of Freedom in 2011.

Warren Buffett (born August 30, 1930, Omaha, Nebraska, U.S.) is an American
businessman and philanthropist, widely considered the most successful investor
of the 20th and early 21st centuries, having defied prevailing investment trends
to amass a personal fortune of more than $100 billion.

Known as the “Oracle of Omaha,” Buffett was the son of U.S. Rep. Howard Homan
Buffett from Nebraska. After graduating from the University of Nebraska (B.S.,
1950), he studied with Benjamin Graham at the Columbia University School of
Business (M.S., 1951). In 1956 Buffett returned to Omaha and in 1965 took
majority control of the textile manufacturer Berkshire Hathaway Inc., turning it
into his primary investment vehicle. From the 1960s through the ’90s the major
stock averages rose by roughly 11 percent annually, but Berkshire Hathaway’s
publicly traded shares gained about 28 percent per year. Though Buffett’s
success with Berkshire Hathaway made him one of the world’s wealthiest men, he
eschewed lavish spending and criticized governmental policies and taxation that
favoured the rich over the middle or lower classes.

In June 2006 Buffett announced that he planned to donate more than 80 percent of
his wealth to charitable foundations; in 2020 he raised that amount to 99
percent. The main recipient was the Bill & Melinda Gates Foundation—created by
Microsoft founder Bill Gates and his then wife, Melinda—which focused on issues
of world health and education; Bill and Buffett had maintained a close
friendship since the early 1990s. The other organizations receiving donations
included those run by Buffett’s three children and the Susan Thompson Buffett
Foundation, named for his late wife, which focused on women’s reproductive
rights and funded college scholarship programs. In 2010 Buffett and the Gateses
created the Giving Pledge, an invitation to other wealthy individuals to donate
the majority of their fortune to charities.

During the subprime mortgage crisis of 2007–08, Buffett made a number of deals
that, though questioned at the time, proved highly profitable. In September 2008
he invested $5 billion in the U.S.-based bank holding company Goldman Sachs
Group, Inc., and the following month Berkshire Hathaway purchased $3 billion in
General Electric Company (GE) preferred stock. In November 2009 Buffett
announced that Berkshire was buying the railroad company Burlington Northern
Santa Fe Corporation for about $26 billion; the investment group already owned
approximately 23 percent of the railroad. Berkshire Hathaway also had
significant shareholdings in companies it did not control, including Coca Cola
and Apple.

Open full sized image

Warren Buffett (left) and U.S. Pres. Barack Obama, 2011.
Pete Souza—Official White House Photo

In 2011 Buffett was awarded the Presidential Medal of Freedom.

The Editors of Encyclopaedia BritannicaThis article was most recently revised
and updated by Encyclopaedia Britannica.



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