Warren Buffett: billionaire investor with simple tastes

Billionaire capitalist Warren Buffett, CEO of Berkshire Hathaway, earned his monolithic luck with savvy choices and idiosyncratic frugality. Photo: Johannes EISELE / AFP/File
Source: AFP

Admired for his investing prowess and a sensation for the elemental things successful beingness alternatively than luxury, billionaire Warren Buffett has won nationalist affection adjacent arsenic helium amassed a luck for the ages -- riches that the "Oracle of Omaha" has pledged to springiness away.

Buffett studiously rejected exotic fiscal vehicles, arsenic good arsenic the brass-knuckle tactics of firm raiders, adopting alternatively a buy-and-hold strategy of semipermanent investments.

His legacy: Berkshire Hathaway, the Nebraska-based conglomerate whose divers holdings scope from Duracell batteries to insurer Geico to overgarment brands to diamonds.

The institution besides holds cautiously selected equity stakes successful US firm giants specified arsenic Coca-Cola and Chevron.

Now, astatine property 94, helium is acceptable to measurement distant from the institution helium built, announcing connected Saturday that helium plans to measurement down astatine year's extremity and volition urge that his chosen successor Greg Abel instrumentality his spot arsenic Berkshire CEO.

According to Forbes magazine's real-time affluent list, arsenic of Saturday, his nett worthy is $168.2 cardinal -- the 5th biggest luck successful the world.

Buffett has nevertheless avoided the trappings of the oft-maligned "one percent," eschewing big-ticket creation collecting oregon fancy mansions astir the world.

He inactive lives successful the aforesaid location successful a quiescent vicinity of Omaha that helium bought successful 1958 for $31,500.

His gastronomic tastes are decidedly humble, including McDonald's Chicken McNuggets astatine slightest 3 times a week, murphy chips for snacks, crystal pick for dessert and an mean of 5 cans of Coca-Cola per day.

His hobbies see span and playing the ukulele.

"I don't request fancy clothes," Buffett told CBS successful 2013. "I don't request fancy food."

Yet helium did admit successful 2006 that helium owned a backstage jet, saying the splurge made his beingness easier.

Philanthropy

US billionaire capitalist Warren Buffett (L) and Microsoft laminitis Bill Gates (R) flip implicit their Dairy Queen Blizzard treats successful Beijing successful 2011; Dairy Queen is 1 of dozens of iconic brands owned by Buffett's Berkshire Hathaway. Photo: FREDERIC J. BROWN / AFP/File
Source: AFP

That aforesaid year, Buffett announced that helium would donate 99 percent of his luck to philanthropic causes.

Joined by his person and span spouse Bill Gates, Buffett subsequently persuaded different billionaires to pledge to besides donate astatine slightest fractional their wealthiness away.

Such campaigns person made Buffett a beloved fig wrong US society, helping to gully tiny investors to Berkshire's yearly gathering each outpouring successful Omaha, a gathering that has been dubbed a benignant of "Woodstock for capitalists."

The capitalist has often utilized his level to remark connected economical policy, oregon to explicit pique connected a wealthiness of topics, from the questionable worth of bitcoin to US President Donald Trump's commercialized policies.

Buffett has been unfastened successful the past astir supporting the Democratic Party, portion besides often expressing the presumption that his taxes should person been higher, fixed his wealth.

Early concern instincts

Warren Buffett has lived his full big beingness successful a humble location successful Omaha that helium bought successful 1958 for $31,500. Photo: Johannes EISELE / AFP/File
Source: AFP

Born connected August 30, 1930 successful Omaha arsenic the 2nd of 3 children, Buffett discovered an aboriginal sensation for business aft speechmaking the publication "One Thousand Ways to Make $1,000" arsenic a young boy.

Buffett's puerility was not easy. He has described going done a shoplifting signifier and being forced to navigate astir his abusive parent Leila, who utilized to berate his sister Doris arsenic "stupid."

He had planned to wantonness his studies, but that thought was vetoed by his father, a businessman and politician who served successful Congress.

Then US person Barack Obama awarded the Presidential Medal of Freedom to investor, industrialist and philanthropist Warren Buffett successful 2011. Photo: JIM WATSON / AFP/File
Source: AFP

He attended the University of Pennsylvania arsenic an undergraduate earlier transferring to the University of Nebraska, wherever helium graduated with a concern degree.

He aboriginal received a Master's grade successful economics from Columbia University successful New York successful 1951.

Buffett worked connected Wall Street successful the 1950s, establishing the Buffett Partnership, which merged successful 1965 with Berkshire Hathaway, past a textile firm.

An avid scholar of the fiscal property and beyond, Buffett gravitated toward investments that helium believed were undervalued, holding them until they paid off.

He transformed Berkshire into a far-flung conglomerate known for investments successful nuts-and-bolts sectors specified arsenic energy, banking, aerial question and food. Holdings besides see Citigroup, Kroger, Apple and American Express.

Active successful his 90s

Warren Buffett (L) ran Berkshire Hathaway with long-time concern spouse Charlie Munger -- the brace are seen present successful 2019. Photo: Johannes EISELE / AFP/File
Source: AFP

Donning classical grey suits, glasses and colored ties, the white-haired Buffett has remained a vibrant subordinate connected the US concern country into his 90s.

He agelong ran Berkshire with his longtime vice president Charlie Munger, six years his senior.

Then successful 2021, arsenic Buffett turned 90, Berkshire officially designated Abel arsenic his successor -- a program that appears present to beryllium acceptable into motion.

Buffett joined his archetypal woman Susan successful 1952. They had 3 children. Though they lived isolated for decades, they remained joined until her decease successful 2004.

He subsequently joined his long-time spouse Astrid Menks successful 2006.

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Source: AFP