I always knew I was going to be rich,” says Buffett. “I don’t think I ever doubted it for a minute”, says Warren Buffett, often referred to as the ‘Oracle’ of Omaha for his near miraculous ability to spot good investments.
THE ORACLE OF OMAHA
With an estimated net worth of around US$76 billion, Warren Buffett is one of the wealthiest person in the world. And that’s AFTER giving away almost half of it away. Had he kept them all, he would easily remain the wealthiest individual on Earth.
He has used his unique personality and management style to master the art of investment and create an empire, most of which is centred around his investment vehicle, Berkshire Hathaway. In recent years, he has committed himself to giving away 99% of his fortune, primarily to the Bill and Melinda Gates Foundation. Whether he is making money or giving it away, Buffett has made a name for himself as one of the most astute entrepreneurs and investors in history.
Born on 30 August 1930, Warren Edward Buffett grew up in Omaha, Nebraska with his two sisters, Doris and Bertie, his mother Leila, and his father, Howard Buffett, who was a stockbroker as well as a Republican member of the U.S. House of Representatives. His grandfather owned a local grocery store, where Berkshire Hathaway’s current Vice Chairman Charlie Munger once worked alongside Buffett.
When Buffett was just six years old, he bought six packs of Coca-Cola from his grandfather’s store. They cost him 25 cents but he managed to resell them for five cents a bottle. Buffett had made a profit of five cents but more importantly, the experience had whetted his appetite for business. With his newfound passion for profit, Buffett shunned the playground in search of more moneymaking opportunities.
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