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Biography
Warren Edward Buffett (born August 30, 1930) is a wealthy American investor and businessman.

Nicknamed the "Oracle of Omaha", Buffett has amassed an enormous fortune from astute investments through his company Berkshire Hathaway, of which he holds 38%. With an estimated net worth of $44 billion as of 2005, he is ranked by Forbes as the second-richest person in the world, behind Bill Gates.

Biography


Buffett was born in Omaha, Nebraska. His father Howard Buffett was a stockbroker and member of Congress. Buffett was educated at the University of Nebraska (transferring there from the Wharton School of Finance and Commerce at the University of Pennsylvania) and took a Master's degree in economics at Columbia Business School, studying under Benjamin Graham. He went on to work for Graham at Graham-Newman where he followed Graham's value investing rules. Buffett returned to Omaha in 1957 and started his own investment partnership, putting in his own money and raising additional investments from friends and family. By 1969, he had returned an average of almost 30% a year, in a market where 7% to 11% is the norm and anything more is outstanding. Under Buffett's direction, Berkshire has outperformed market benchmarks such as the S&P 500 and the Dow Jones Industrial Average for over forty years.

He married Susan Thompson in 1952. They separated in 1977 but remained married. She was a significant stockholder in Berkshire Hathaway and a board member. Mrs. Buffett died on July 29, 2004 from a stroke. Bono sang at her funeral in Omaha on Monday; they had worked together on AIDS issues. (http://www.usatoday.com/money/companies/2004-07-29-susan-buffett-obit_x.htm) (http://www.aegis.com/news/ap/2004/AP040810.html) Buffett lives with Astrid Menks; his late wife largely resided in San Francisco in recent years. He has three children. Warren Buffett has not yet named any clear successors to run Berkshire Hathaway. He has disclosed that a letter to Berkshire's board of directors exists—only to be opened after his death. It likely suggests his role as CEO be split in two—with one executive handling the operations of the company and the other executive in charge of its various investments.

Mr. Buffett has stated that the majority of his fortune will pass to his Buffett Foundation.

...(more on Wikipedia)
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Warren Buffett".
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