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A Buffet of Warren Buffett Facts

A Buffet of Warren Buffett Facts

| March 14, 2024

Written by Hannah Morgan, an assistant to Eric Wasson

Warren Buffett — an influential financial guru who is a billionaire, not to be confused with Jimmy Buffett, a famous singer who was also a billionaire. Warren Buffett is to investing as Shakespeare is to literature. He owns such famous companies as Coca Cola, Fruit of the Loom, and Geico. And with fame comes polarized opinions; you either love him, or you hate him. 

Setting all opinions aside, I wanted to share some interesting facts I collected about him. Maybe you know nothing about him like I did, or maybe you follow his life like the media follows Taylor Swift and Travis Kelce. Either way, let's get into it. 

Quick Facts 

Age: 93 (Born August 30, 1930)

Net worth: $125.2 billion, the seventh richest person in the world 

Investing philosophy: Acquire stock for good companies at low prices, and stick with them for the long haul

Summary 

Buffett was born in 1930, in Omaha, Nebraska. His family was well-off, but not phenomenally (not Warren Buffet-level!). He started out selling soda and magazines door-to-door as a child, and bought his own stock at age eleven. You have to give it to him for work ethic! 

He was rejected by Harvard Business School, so instead went to Columbia University, where he was trained by a role model of his. From there, he continued his career in economics, eventually ending up being the chairman of Berkshire Hathaway with his business partner, Charlie Munger. With that company they have grown their wealth exponentially. 

Points of Interest

1) Buffett doesn't plan to leave the majority of his fortune to his family. He has pledged 99% of it to charity, and will leave his children 2 billion dollars each. Still an astronomical amount to most of us, but he summarizes it this way: "I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing."

2) He still lives in the same five bedroom, two-and-a-half bath home that he bought back in the fifties, in Omaha. This is where he raised his children, and he has no intention of ever leaving it. 

3) Warren Buffett and late Jimmy Buffett were not related, but they were good friends! Warren Buffett once said of Jimmy, "In his first call to me, he began with 'Cousin Warren?' and I replied 'Cousin Jimmy' and that's the way it stayed." 

4) Speaking of friends, Buffett is also close to Bill Gates, another well-known billionaire. They are both avid bridge players. 

5) As far as his lifestyle goes, it's atypical for a billionaire. He frequently eats McDonalds for breakfast, even altering his order to be cheaper when the market is down. Coke is his favorite drink, and he loves ice cream. On his eating habits, he once commented, "I checked the actuarial tables, and the lowest death rate is among 6-year-olds. So I decided to eat like a 6-year-old."

Takeaway 

Warren Buffett has impacted the world of economics more than almost anyone, and he is looked to as a role model by many. Whether you love him, hate him, or are somewhere in the middle, now you know a little more about the famed nonagenarian. 

Sources: 

Omaha World Herald 

Wikipedia 

Forbes

Investopedia 

CNBC

Entrepreneur