Here are some interesting and truly unbelievable facts about the chairman and chief executive of Berkshire Hathaway Inc., and one of the richest people in the world, billionaire Warren Buffett —that you won’t believe are true.
- Fondly known as the “Oracle of Omaha” — Warren Buffet bought his first share at age 11 in 1942.
- Despite his extensive knowledge of stocks and financial savvy, when Buffett was 19, he applied to Harvard Business School and was rejected.
- While most people aren’t thinking of investing that early in life, he has also stated that he wishes he had started investing in the stock market even earlier than age 11.
- Buffett filed his first tax return at the age of 13. The filing was made to claim a deduction of $35 for his bike, since he used it to deliver newspapers.
- When Buffett was 14-years old, he managed to save the money he earned from delivering papers to buy a 40-acre farm in Nebraska.
- He owns relatively few stocks — but those he owns, he tries to hold “forever,” like Johnson & Johnson, Kraft, Wells Fargo, and The Coca-Cola Company.
He’s famously said, “I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for 10 years.“
- In June 2006, Warren Buffett announced his plan to give away 85% of his wealth to charity. He has long said his intention is to “do good” rather than hoard his money for himself and his family.
“There’s no reason why future generations of little Buffetts should command society just because they came from the right womb. Where’s the justice in that?” he said.
Over 80% of the shares will go to the Bill & Melinda Gates Foundation. The other 20% of the shares will be divided among foundations headed by Buffett’s three children, Susan, Howard, and Peter, as well as to the foundation set up to honor his late wife, the Susan Thompson Buffett Foundation.
- Warren Buffett disowned his granddaughter – After his son Peter’s adopted daughter Nicole appeared on a documentary about the wealth disparity in America called The One Percent, Buffett effectively disowned his granddaughter.
- Warren Buffett hired a man (Ted Weschler, managing partner at hedge fund Peninsula Capital Advisors) who paid millions — twice — just to have lunch with him.
- Buffett drives his own car everywhere and does not have a driver or security people around him.
- The billionaire “Oracle of Omaha” still lives in the same house he bought in 1958 for $31,500 in the Dundee-Happy Hollow Historic District of Omaha, Nebraska where he was raised. Buffett says that he has everything he needs in that house. His house does not have a wall or a fence.
- Buffett’s obsession is bridge — he plays bridge online at least four times a week, fellow billionaire Bill Gates plays online under the name “Chalengr” and Buffett goes under the name “T-Bone.”
- Warren Buffett does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television.
- He does not carry a cell phone, nor has a computer on his desk.
- His best investment wasn’t a stock or a business. It was purchasing Benjamin Graham’s book titled “The Intelligent Investor” in 1949. He states that the book changed his life dramatically.
- Warren Buffett rarely travels by private jet, although he owns one of the world’s largest private jet company – NetJets with a fleet size of 650+ aircraft.
The Best Things the billionaire CEO, Warren Buffett has ever said
- “Rule No. 1: Never lose money; rule No. 2: Don’t forget rule No. 1.”
- “Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.”
- “I think you are out of your mind if you keep taking jobs that you don’t like because you think it will look good on your resume. Isn’t that a little like saving up sex for your old age?”
- “If past history was all there was to the game, the richest people would be librarians.”
- “No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant.”
- “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
- “Only when the tide goes out do you discover who’s been swimming naked.”
- “I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”
- “Someone’s sitting in the shade today because someone planted a tree a long time ago.”
- “It’s better to hang out with people better than you.”
- “If you’ve been playing poker for half an hour and you still don’t know who the patsy is, you’re the patsy.”
- “I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3 percent of GDP all sitting members of congress are ineligible for reelection.”
- “In the business world, the rearview mirror is always clearer than the windshield.”
- “Be fearful when others are greedy, and be greedy when others are fearful.”
- “I’ve never swung at a ball while it’s still in the pitcher’s glove.”
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