We bring to you Warren Buffett Net Worth 2024
Warren Buffett net worth 2024: Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of over $137 billion making him the world’s seventh-wealthiest person
Important Facts About Warren Buffet net worth
- Warren Buffet became a billionaire after age 56
- Warren Buffet acquired 99% of his current wealth after turning age 50
- He made his first $1 million at age 30
- Warren Buffett is one of the most successful investors of all time.
- He has promised to donate over 99% of his wealth
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Warren Buffett Net Worth
| Net worth | $137 billion |
| Source of wealth | Investor, business tycoon, |
| Date of birth | August 30, 1930 |
| Country of Residence | United States of America |
Warren Buffett Net Worth
Warren Buffett net worth 2024 makes him one of the richest people in the world. He has a net worth of $137 billion.
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- Known as the “Oracle of Omaha,” Warren Buffett is one of the most successful investors of all time.
- Buffett runs Berkshire Hathaway, which owns more than 60 companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen.
- Buffet started investing in stocks at age 11
- The son of a U.S. congressman, he first bought stock at age 11 and first filed taxes at age 13.
- He has promised to donate over 99% of his wealth. So far he has given more than $41 billion, mostly to the Gates Foundation and his kids’ foundations.
- In 2010, he and Bill Gates launched the Giving Pledge, asking billionaires to commit to donating at least half of their wealth to charitable causes.
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Profile
Buffett was born in Omaha, Nebraska. He developed an interest in business and investing in his youth, eventually entering the Wharton School of the University of Pennsylvania in 1947 before transferring to and graduating from the University of Nebraska at 19. He went on to graduate from Columbia Business School, where he molded his investment philosophy around the concept of value investing pioneered by Benjamin Graham.
Warren Buffett net worth 2024 makes him one of the richest people in the world. He has a net worth of $137 billion.
He attended New York Institute of Finance to focus his economics background and soon after began various business partnerships, including one with Graham. He created Buffett Partnership, Ltd in 1956 and his firm eventually acquired a textile manufacturing firm called Berkshire Hathaway, assuming its name to create a diversified holding company. In 1978, Charlie Munger joined Buffett as vice-chairman.
Buffett has been the chairman and largest shareholder of Berkshire Hathaway since 1970. He has been referred to as the “Oracle” or “Sage” of Omaha by global media. He is noted for his adherence to value investing, and his personal frugality despite his immense wealth.
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Research published at the University of Oxford characterizes Buffett’s investment methodology as falling within “founder centrism”, defined by a deference to managers with a founder’s mindset, an ethical disposition towards the shareholder collective, and an intense focus on exponential value creation. Essentially, Buffett’s concentrated investments shelter managers from the short-term pressures of the market.
Buffett is a notable philanthropist, having pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Bill & Melinda Gates Foundation. He founded The Giving Pledge in 2009 with Bill Gates, whereby billionaires pledge to give away at least half of their fortunes.
Buffet has a long-standing aversion to using the services of investment banks via Berkshire Hathaway.
This dynamic was also reported in Barron’s, Insider, and Seeking Alpha, among others
Early business career
Buffett worked from 1951 to 1954 at Buffett-Falk & Co. as an investment salesman; from 1954 to 1956 at Graham-Newman Corp. as a securities analyst; from 1956 to 1969 at Buffett Partnership, Ltd. as a general partner; and from 1970 as chairman and CEO of Berkshire Hathaway Inc.
In 1951, Buffett discovered that Graham was on the board of GEICO insurance. Taking a train to Washington, D.C., on a Saturday, he knocked on the door of GEICO’s headquarters until a janitor admitted him.
There he met Lorimer Davidson, GEICO’s vice president, and the two discussed the insurance business for hours. Davidson would eventually become Buffett’s lifelong friend and a lasting influence, and would later recall that he found Buffett to be an “extraordinary man” after only fifteen minutes.
Buffett wanted to work on Wall Street but both his father and Ben Graham urged him not to. He offered to work for Graham for free, but Graham refused.
Buffett returned to Omaha and worked as a stockbroker while taking a Dale Carnegie public speaking course.
Using what he learned, he felt confident enough to teach an “Investment Principles” night class at the University of Nebraska-Omaha. The average age of his students was more than twice his own. During this time he also purchased a Sinclair gas station as a side investment but it was unsuccessful.
In 1952, Buffett married Susan Thompson at Dundee Presbyterian Church. The next year they had their first child, Susan Alice.
In 1954, Buffett accepted a job at Benjamin Graham’s partnership. His starting salary was $12,000 a year (about $131,000 today).
There he worked closely with Walter Schloss. Graham was adamant that stock picks should provide a wide margin of safety after weighing the trade-off between their price and their intrinsic value. That same year the Buffetts had their second child, Howard Graham.
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In 1956, Benjamin Graham retired and closed his partnership. At this time Buffett’s personal savings were over $174,000 (about $1.87 million today) and concurrently founded Buffett Partnership Ltd.
In 1957, Buffett operated three investment partnerships. He purchased a five-bedroom stucco house in Omaha, where he still lives, for $31,500.
In 1958 the Buffetts’ third child, Peter Andrew, was born. Buffett operated five partnerships that year. In 1959, the company grew to six partnerships and Buffett met future partner Charlie Munger.
By 1960, Buffett operated seven investment partnerships. He asked one of his partners, a doctor, to find ten other doctors willing to invest $10,000 each in his partnership. Eventually, eleven agreed, and Buffett pooled their money with a mere $100 original investment of his own.
In 1961, Buffett revealed that 35% of the partnership’s assets were invested in the Sanborn Map Company.
He explained that Sanborn stock sold for only $45 per share in 1958, but the company’s investment portfolio was worth $65 per share. This meant that Sanborn’s map business was being valued at “minus $20”.
Buffett eventually purchased 23% of the company’s outstanding shares as an activist investor, obtaining a seat for himself on the board of directors, and allied with other dissatisfied shareholders to control 44% of the shares.
To avoid a proxy fight, the board offered to repurchase shares at fair value, paying with a portion of its investment portfolio. 77% of the outstanding shares were turned in.
Buffett had reaped a 50 percent return on investment in just two years.
Assuming Berkshire
In 1962, Buffett became a millionaire because of his partnerships, which in January 1962 had an excess of $7,178,500, of which over $1,025,000 belonged to Buffett.
He merged these partnerships into one. Buffett invested in and eventually took control of a textile manufacturing company, Berkshire Hathaway.
He began buying shares in Berkshire from Seabury Stanton, the owner, whom he later fired. Buffett’s partnerships began purchasing shares at $7.60 per share.
In 1965, when Buffett’s partnerships began purchasing Berkshire aggressively, they paid $14.86 per share while the company had working capital of $19 per share.
Buffett took control of Berkshire Hathaway at a board meeting and named a new president, Ken Chace, to run the company.
In 1966, Buffett closed the partnership to new money. He later claimed that the textile business had been his worst trade.
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He then moved the business into the insurance sector, and, in 1985, the last of the mills that had been the core business of Berkshire Hathaway was sold.
In a second letter, Buffett announced his first investment in a private business — Hochschild, Kohn and Co, a privately owned Baltimore department store. In 1967, Berkshire paid out its first and only dividend of 10 cents.
In 1969, Buffett liquidated the partnership and transferred their assets to his partners including shares of Berkshire Hathaway.
In 1970, Buffett began writing his now-famous annual letters to shareholders. He lived solely on his salary of $50,000 per year and his outside investment income.
In 1973, Berkshire began to acquire stock in the Washington Post Company. Buffett became close friends with Katharine Graham, who controlled the company and its flagship newspaper and joined its board.
In 1974, the SEC opened a formal investigation into Buffett and Berkshire’s acquisition of Wesco Financial, due to possible conflict of interest. No charges were brought.
In 1977, Berkshire indirectly purchased the Buffalo Evening News for $32.5 million. Antitrust charges started, instigated by its rival, the Buffalo Courier-Express. Both papers lost money until the Courier-Express folded in 1982.
In 1979, Berkshire began to acquire stock in ABC. Capital Cities announced a $3.5 billion purchase of ABC on March 18, 1985, surprising the media industry, as ABC was four times bigger than Capital Cities at the time.
Buffett helped finance the deal in return for a 25% stake in the combined company. The newly merged company, known as Capital Cities/ABC (or CapCities/ABC), was forced to sell some stations due to Federal Communications Commission ownership rules. The two companies also owned several radio stations in the same markets.
In 1987, Berkshire Hathaway purchased a 12% stake in Salomon Inc., making it the largest shareholder and Buffett a director. In 1990, a scandal involving John Gutfreund (former CEO of Salomon Brothers) surfaced.
A rogue trader, Paul Mozer, was submitting bids in excess of what was allowed by Treasury rules. When this was brought to Gutfreund’s attention, he did not immediately suspend the rogue trader. Gutfreund left the company in August 1991. Buffett became chairman of Salomon until the crisis passed.
In 1988, Buffett began buying The Coca-Cola Company stock, eventually purchasing up to 7% of the company for $1.02 billion. It would turn out to be one of Berkshire’s most lucrative investments and one which it still holds.
Warren Buffett Net Worth
Warren Buffett net worth 2024 makes him one of the richest people in the world. He has a net worth of $137 billion.
Buffett has been the chairman and largest shareholder of Berkshire Hathaway since 1970. He has been referred to as the “Oracle” or “Sage” of Omaha by global media.
He is noted for his adherence to value investing, and his personal frugality despite his immense wealth
Buffett is a philanthropist, having pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Bill & Melinda Gates Foundation.
He founded The Giving Pledge in 2010 with Bill Gates, whereby billionaires pledge to give away at least half of their fortunes.
Buffett married Susan Buffett (born Thompson) in 1952. They had three children, Susie, Howard and Peter. The couple began living separately in 1977, although they remained married until Susan Buffett’s death in July 2004. Their daughter, Susie, lives in Omaha, is a national board member of Girls, Inc., and does charitable work through the Susan A. Buffett Foundation.
In 2006, on his 76th birthday, Buffett married his longtime companion, Astrid Menks, who was then 60 years old—she had lived with him since his wife’s departure to San Francisco in 1977.