I know Warren Buffet to be one of the best investors in history, but it got me wondering, how did he get to that point in his life?
I decided to put together this informative guide, which is going to tell you all there is to know about the personal life and business strategies of Warren Buffett. I will tell you about how he became one of the most famous and influential people in the business world.
From everything I have learned about Warren, it seems as though he is an extremely generous man, pledging to donate almost all of his fortune to charities before he dies, which tells me that he has high morals and good values when it comes to his finances.
So in this Warren Buffett bio, let’s find out more about the man behind Berkshire Hathaway.
Warren Buffett Bio Facts
|Full Name: Warren Edward Buffett|
|Birth Date: 30th August 1930|
|Birth Place: Omaha, Nebraska, United States|
|Nick Name: Oracle of Omaha|
|Siblings: Sisters – Doris and Roberta Buffett|
|Children: Daughter – Susan Alice Buffett, and Sons – Howard Graham Buffett and Peter Buffett|
|Partner / Spouse: Astrid Menks|
|Profession: Investor, Businessman, CEO, philanthropist|
|Net Worth: $118 billion|
|Social Media: Warren Buffett | Success (@warrenbuffettsofficial) • Instagram photos and videos, Warren Buffett (@WarrenBuffett) / Twitter|
|Companies Associated With: Berkshire Hathway, Washington Post Company, Wesco Financial, Buffalo Evening News, ABC Capital Cities, General Re, Goldman Sachs, General Electric|
|Last Updated: September 2022|
Warren Buffett Key Facts Summary
- Warren is the Chairman and CEO of Berkshire Hathaway.
- He has been named one of the most successful investors in history. 
- He has been the Chairman of Berkshire Hathaway since 1970.
- He is well known for his humble way of life and frugality.
- He has pledged to donate 99% of his wealth to charities before he passes away.
- Warren founded the Giving Page alongside Bill Gates.
- He is the seventh wealthiest person in the world. 
- There have been 47 books published featuring Warren Buffett’s name in the title.
- He has appeared in films, and T.V. shows such as The Office, Wall Street: Money Never Sleeps, Entourage, and All My Children.
- There was a documentary about Warren’s life called Becoming Warren Buffett. 
- He acquired his first stock at the age of eleven.
- He was a millionaire before he was thirty.
- He drinks five cans of Coke every day.
- He made generous contributions to Obama’s presidential campaign.
- He was an advisor to Arnold Schwarzenegger during the election in 2003.
- He has said that his children will not receive a large portion of his wealth when he passes away.
- He was part of the Gate’s Foundation Board but was never an active member.
- He was diagnosed with prostate cancer in 2012, which he completed a 44-day radiation treatment for. 
Warren Buffett Birthplace and Early Life
Warren was born on the 30th of August, 1930, in the United States of America in Omaha, Nebraska.
He had two sisters, Doris and Roberta, and his parents were called Leila and Howard.
When he was old enough to start school, he attended Rose Hill Elementary School but was later moved to Alice Deal Junior High School to complete his education after his father was selected to be a part of the first four terms in the U.S. Congress, meaning the family had to move to Washington D.C.
Warren graduated from his early education in 1947, when he was seventeen. It was at this point that Warren already had a business revenue in mind. As he was already becoming aware of his entrepreneurial abilities, he decided to skip college and go straight into the working world, but only his father disapproved. 
It was clear from a very young age that Warren was going to go far in the world of business, and this only became more apparent after a book on investment called One Thousand Ways to Make $1000 piqued his interest. 
He spent much of his early childhood experimenting with new ventures, including selling chewing gum, stamps, golf balls, and bottle tops and delivering newspapers.
When he was only ten years old, he arranged to meet with a member of the N.Y. stock exchange and was already talking about his plans for his future career.
In 1945, his business ideas continued to flourish, and he and a friend purchased a pinball machine for $25.00, which they placed in their local barber shop. This business grew quicker than the boys ever expected, and within just a couple of months, they owned various machines in shops all over Omaha. They sold their business to a war veteran later that same year for $1200. At the time of sale, the company had a net worth of around $5000 – $6000, which in today’s money, would be close to $60,000. 
When he was almost 18 years old, Warren enrolled in the Wharton School of the University of Pennsylvania, where he studied for two years.
After he graduated, he decided to further his education at the University of Nebraska, where he completed a course in business administration. He wasn’t done there because he wanted to begin studying at Harvard, but his application was denied.
By 1951, he had earned himself a Master in Science from Columbia.
Warren Buffett Early Business Success
I think it’s pretty clear that Warren’s early business success had already begun when he was a young boy, but from there, things continued to soar for him.
After gaining his Master’s degree in 1951, he got a job in sales working for Buffett-Falk & Co, a company owned by his family.
After years of studying investment, he also decided to put the knowledge he had gained to good use and start teaching at the University of Nebraska-Omaha. During his time here, he was spotted by a well-known investor called Benjamin Graham, who had previously taught Warren when he was younger.
Warren started working for Benjamin at his partnership, where he held a position for over four years, working closely with Walter Schloss. Warren was put through his paces working for Graham, and I think it probably laid the line for him to start his own company, which he soon did in 1956.
Buffett Partnership Ltd and Berkshire
By 1959, Warren was operating six separate partnerships, which is when he became acquainted with the man who would be his partner in later life, Charlie Munger.
The following year he managed to convince ten doctors to invest $10,000 each into the partnerships, and by 1962, Warren was an official millionaire.
Now he was in a stable position; Warren saw it as the perfect time to take the reins of the manufacturing firm Berkshire Hathaway, of which he had already begun buying shares.
Investors were eager to get involved in Warren’s business, and people started investing in left, right, and center shares. He was growing in wealth and reputation at a rapid rate, and it wasn’t going unnoticed.
It was evident by this stage that Warren knew exactly what he was doing in his line of work and had a good eye for investments, stocks, and general business case studies.
In 1966, Warren took the risky step of closing the textiles side of the company and moving it solely to the insurance sector. 
In 1967, he received his first dividend payment of 10 cents, which he paid straight out.
Two years later, he liquidated a partnership with Hochschild, Kohn, and Co and transferred the company’s assets to Berkshire and Hathaway. The following year, he began sending out his yearly letters to shareholders within the company.
At this time in his life, he was modestly living on a salary of just $50,000 despite his wealthy assets.
In 1973, Warren became good friends with Katgerarine Graham, who was in charge of the Washington Post Company, a company that Berkshire had recently begun to acquire.
Warren continued to grow his company into the early 80s, only investing in companies he held in high regard or whose products he used. These included Fruit of the Loom because he liked the quality of their products and coca-cola, which he was said to have drunk five cans of per day. To this day, Berkshire still holds shares in coca-cola, and it is the company’s most profitable investment to date. 
Warren was a bonafide billionaire by the early 90s.
The Great Recession
During the mortgage crisis and the great recession of 2007, Warren had begun to receive backlash, with some claiming that he had been too eager to allocate capital, which had, in turn, resulted in inappreciable deals.  His company suffered a 77% loss in earnings during this time, and many deals fell through. 
He, of course, recovered from the downfall during the recession while also helping others, such as Dow Chemical, whom he helped to pay $18.8 billion for the takeover of Rohm & Haas.
By 2008, with a net worth of $62 billion, Warren was named the wealthiest person in the world.
Warren Buffett Videos
Listen to Warren give a final warning about the effects of the current financial situation and how it will compare to the crash of 1929. He also tells us what we can learn from the past to avoid a crisis.
Warrens speaks about how he learned to start an empire from the age of eleven years old.
Here are some great tips and advice on a successful life from Warren, which he swears for a livable future.
Warren Buffett Business Failures
Okay, so we know that Warren Buffett is one of the most successful businessmen and investors of all time, but this got me questioning what failures he encountered along the way because, let’s face it, nobody is perfect.
It turns out that Warren did, in fact, make a few investments, which are classed as failures.
The first one came before he was a self-made millionaire when he worked his first real job with Benjamin Graham. Warren decided to purchase a gas station, which was ultimately unsuccessful and was forced to close after a short time. My opinion is that he was starting and finding his feet, and at the time, he was taking on too much too soon.
Another failure that Warren often speaks about was his investment in Tesco, which ended up costing the company $444 million. This was solely down to him not investing fast enough when he saw the chance. He says he regrets the decision and, from this, learned to act promptly with any future investments.
The deal that Warren says was the worst mistake he ever made was his deal in purchasing Dexter Shoe Company. He has spoken about the decision to invest in this cost Berkshire Hathaway $3.5 billion. This was back in 1993, so you can imagine the equivalent of what that must be in today’s money. He says that his biggest mistake with this deal was not paying the holders cash but instead using his company’s shares to make the purchase.
Another of his biggest regrets comes not from making a loss but instead from not going forward with a sale. He opted against purchasing the NBC station in 1972. This deal would have been highly lucrative to him in the future.
Warren Buffett Family
Warren was first married to Susan Thompson, whom he wed in 1952. They had three children together, Peter, Howard, and Susie Buffett.
They were together for around 25 years before deciding to live separately. They later rectified their marriage and remained a couple until Susan passed away in 2004.
Warren married for a second time two years later, in 1976. His second wife’s name was Astrid Menks, she was 60 years old at the time of their marriage, and the couple never shared any children.
Warren has been open about disowning his granddaughter, Nicole, who is the daughter of Peter. This was after she partook in a documentary discussing the economic inequality separating the everyday person from the rich and famous.
Warren Buffett Net Worth and Career Earnings
Warren has made most of his wealth from his success with Berkshire and Hathaway. Still, it might surprise you to learn, as it did me, that despite being one of the wealthiest people in the world, he lives on a very modest salary of $100,000 annually.
His current net worth stands at $118 billion as of September 2022, and he is currently listed as the fifth richest person in the world.
Warren Buffett Real Estate Holdings
Despite his immense wealth, I found it somewhat humbling to learn that Warren still lives in the same house he purchased back in 1956. The house has five bedrooms and is situated in his hometown of Omaha, Nebraska.
When he first bought the house, it cost $31,000, and today is worth an estimated $652,000. Just a drop in the ocean compared to his net worth. 
When speaking about his humble abode, Warren says that the amount of money spent on a house is not what makes it a happy home; most important is the memories made and the fact it keeps you warm through the winter.
Warren Buffett Quotes
I have found it fascinating listening to some of the things Warren has to say about making money and living a content life. Unfortunately, there are too many to share with you, but here a just a couple that stand out to me the most.
“No matter how great the offers or the talent, some things still take time. You can’t produce a baby in one month by getting nine women pregnant.”
“It takes twenty years to build a good reputation and only five minutes to ruin it. Think about that, and you will do things differently.”
“Pick out associates whose behavior is better than your own, and you’ll drift in the same direction.”
“In the business world, those who are most successful are the ones who are doing what they love.”
“Games are won by the players focusing on the field, not those with their eyes glued to the scoreboard.”
FAQs – Warren Buffett Bio
Question: Is Warren Buffett The Richest Man in The World?
Answer: Not quite. As it stands, in 2022, Warren is the fifth richest man in the world.
Question: Who is Warren Buffett’s Wife?
Answer: Warren was first married to Susan Thompson until she died in 2004. His current wife is Astrid Menks, and she was a friend of Susan and Warren before their romantic relationship.
Question: What Car Does Warren Buffett Drive?
Answer: Despite his hefty budget, Warren is often seen modestly driving his Cadillac XTS, which he is extremely proud of and happy with.
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