NET WORTH : $120 Billion Dollars
American philanthropist, investor, and businessman Warren Edward Buffett is the current chairman, CEO, and co-founder of Berkshire Hathaway. Buffett is one of the most well-known investors in the world as a result of his enormous investing success. With a $120 billion net worth as of December 2023, he ranked ninth on the world's wealthiest list.
Buffett was born in Omaha, Nebraska. The son of US congressman and businessman Howard Buffett, he developed an interest in business and investing during his youth. He entered the Wharton School of the University of Pennsylvania in 1947 before 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. He attended New York Institute of Finance to focus on his economics background and soon pursued a business career. He later began various business ventures and investment partnerships, including one with Graham. He created Buffett Partnership Ltd. in 1956 and his investment firm eventually acquired a textile manufacturing firm, Berkshire Hathaway, assuming its name to create a diversified holding company. Buffett emerged as the company's chairman and majority shareholder in 1970. In 1978, fellow investor and long-time business associate Charlie Munger joined Buffett as vice-chairman.
Buffett has served as chairman and major stakeholder of Berkshire Hathaway, one of the top holding firms in America and among the top business conglomerates globally, since 1970. He has amassed a substantial fortune from his business and investing achievements, earning him the moniker "Oracle" or "Sage" of Omaha from the international press. Despite his enormous fortune, he is renowned for his thrift and devotion to value investment.
EARLY LIFE & EDUCATION
Born on August 30, 1930, in Omaha, Nebraska, Warren Edward Buffett was the only child of Leila and Congressman Howard Buffett. He was the second of three children.Rose Hill Elementary School was where he started his schooling. When Warren's father was elected to the US Congress for the first of his four terms in 1942, the family moved to Washington, D.C. Warren completed elementary school, went to Alice Deal Junior High School, and eventually graduated from what was then Woodrow Wilson High School in 1947 with a diploma that said, "likes math; a future stockbroker" in the senior yearbook. Buffett planned to forego college and enter the business world straight away after graduating from high school and seeing success in his side businesses and investments, but his father disapproved of his decision.
Buffett shown an early interest in investment and business. One Thousand Ways to Make $1000, a book he checked out at the public library in Omaha when he was seven years old, served as his inspiration. Buffett's early years were filled with several successful business endeavors. Buffett sold weekly magazines, Coke, and chewing gum door-to-door in one of his early business endeavors. He was employed at his grandfather's supermarket. He earned money while still in high school by, among other things, delivering newspapers, selling stamps and golf balls, and polishing vehicles. Buffett deducted $35 from his first income tax return in 1944 for using his watch and bicycle for his paper route.
TOP STOCK HOLDINGS IN WARREN BUFFETT PORTFOLIO
KEY KNOWLEDGE
Companies Owned By Berkshire Hathaway
Clayton Homes
Clayton Homes (or Clayton) is the largest builder of manufactured housing and modular homes in the United States. It is a wholly owned subsidiary of Warren Buffett's Berkshire Hathaway.
Clayton Homes' corporate headquarters are in Maryville, Tennessee. Its subsidiaries include Clayton Home Building Group, Clayton Properties Group, Vanderbilt Mortgage, 21st Mortgage, and insurance company HomeFirst Agency.
Incorporation Year : 1956
Revenue : $2.1 Billion Dollars
GEICO
The Government Employees Insurance Company (GEICO) is a private American auto insurance company with headquarters in Chevy Chase, Maryland. It is the second largest auto insurer in the United States, after State Farm. GEICO is a wholly owned subsidiary of Berkshire Hathaway that provides coverage for more than 24 million motor vehicles owned by more than 15 million policy holders as of 2017. GEICO writes private passenger automobile insurance in all 50 U.S. states and the District of Columbia. The insurance agency sells policies through local agents, called GEICO Field Representatives, over the phone directly to the consumer via licensed insurance agents, and through their website. Its mascot is a gold dust day gecko with a Cockney accent, voiced by English actor Jake Wood. GEICO is well known in popular culture for its advertising, having made numerous commercials intended to entertain viewers.
Despite the presence of the word "government" in its name, GEICO has always been a private corporation and not a government agency or a government-owned corporation. Leo Goodwin Sr. and his wife Lillian Goodwin originally founded the company in 1936 to sell auto insurance to federal government employees
Incorporation Year : 1936
Revenue : $35 Billion Dollars
Benjamin Moore
Benjamin Moore & Co., also known as Benjamin Moore, is an American manufacturer of premium and commercial paints, stains, and other architectural coatings. The company was founded in 1883 in Brooklyn, N.Y. and is currently headquartered in Montvale, N.J. Benjamin Moore has major manufacturing and distribution operations throughout the United States and Canada with global sales in more than 75 other countries. Benjamin Moore products have always been sold through independently owned retailers, including specialized paint-and-decorating centers, hardware stores, and retailers’ cooperatives such as Ace Hardware, Do it Best and True Value.
Company founder, Benjamin Moore, was born in Ballybay, County Monaghan in Ireland in 1855. In 1872, Moore immigrated to the United States and settled in Brooklyn, N.Y. After working in the paint industry, Benjamin and his brother, William, founded Moore Brothers in 1883 with an initial investment of approximately $2,000.
Incorporation Year : 1883
Revenue : $1 Billion Dollars
central States Indemnity
Central States Indemnity Company (CSI) is an insurance company based in Omaha, Nebraska. It is a wholly owned subsidiary of Berkshire Hathaway.
Incorporation Year : 1977
Revenue : $96 Million Dollars
Diary Queen
International Dairy Queen, Inc. (DQ) is an American multinational fast food chain founded in 1940. It is currently headquartered in Bloomington, Minnesota, United States. The first Dairy Queen was owned and operated by Sherb Noble and first opened on June 22, 1940, in Joliet, Illinois, United States. It serves a variety of hot and fried food, as well as original frozen dairy products that vary from location to location.
Incorporation Year : 1940
Revenue : $4 Billion Dollars
Fruit Of The Loom
Fruit of the Loom is an American company that manufactures clothing, particularly casual wear and underwear. The company's world headquarters is in Bowling Green, Kentucky. Since 2002, it has been a wholly owned subsidiary of Berkshire Hathaway.
Products manufactured by Fruit of the Loom itself and through its subsidiaries include clothing (t-shirts, hoodies, jackets, sweatpants, shorts and lingerie), and sports equipment (softballs and basketballs) manufactured and commercialized by Spalding.
Incorporation Year : 1851
Revenue : $2 Billion Dollars
Johns Manville
Based in Denver, Colorado, Johns Manville is an American corporation that produces engineering goods, insulation, and roofing materials. The Johns-Manville Corporation, as it was then known, dominated the world in producing items containing asbestos for a large portion of the 20th century. These products included asbestos cement pipe, asbestos shingles, asbestos pipe insulation, and roofing materials.
The stock of Johns-Manville Corporation had been included in the Dow Jones Industrial Average from January 29, 1930 to August 27, 1982, when it was replaced by American Express. In 1981, Johns-Manville Corporation was renamed simply Manville. In 1982, facing unprecedented liability for asbestos injury claims, the company voluntarily filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code.
Incorporation Year : 1860
Revenue : $3.5 Billion Dollars
Acme Brick Company
Acme Brick Company is an American manufacturer and distributor of brick and masonry-related construction products and materials. Founder George E. Bennett (October 6, 1852 – July 3, 1907), chartered the company as the Acme Pressed Brick Company on April 17, 1891, in Alton, Illinois, although the company's physical location has always been in Texas. The company grew to become the largest American-owned brick manufacturer by the mid-20th century and was the first of its type to offer a 100-year limited guarantee to its customers. Acme Brick Company was acquired by Berkshire Hathaway on August 1, 2000
Acme is Ancient Greek for "(highest) point, edge; peak of anything", being used in English with the meaning of "prime" or "the best", initially when referring to a period in someone's life
Incorporation Year : 2000
Revenue : $730 Million Dollars
FlightSafety International
The Flight Safety Foundation (FSF) is a non-profit, international organization concerning research, education, advocacy, and communications in the field of aviation safety. FSF brings together aviation professionals to help solve safety problems and bring an international perspective to aviation safety-related issues for the public.
Incorporation Year : 1973
Revenue : $1.24 Billion Dollars
General Re
General Reinsurance Corporation is an American multinational property/casualty and life/health reinsurance company offering a range of reinsurance products and services. The company is a primarily direct reinsurer and is represented in all major reinsurance markets worldwide through a network of more than 40 offices. Gen Re is a wholly owned subsidiary of Berkshire Hathaway Inc.
Incorporation Year : 1921
Revenue : $9.25 Billion Dollars
Warren Buffett Diversified PortFolio
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