warren buffet entrepreneur of the decade
TRANSCRIPT
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Warren Edward Buffett (1930
till now )
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Born : Warren Edward BuffettAugust 30, 1930 (age 78)Omaha, Nebraska, U.S.
Parents : Howard and Leila Buffett
Nationality : American Citizen
Alma mater : University of PennsylvaniaUniversity of NebraskaLincolnColumbia University
Occupation : Chairman & CEO, BerkshireHathaway
Salary : US$ 200,000
Net worth : US$ 54 billion (2012)Spouse(s) : Susan Thompson Buffett (19522004)
Astrid Menks (2006)
Children : Susan Alice Buffett,Howard Graham Buffett,Peter Buffett
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Back ground
Largest shareholder and C.E.O. of Berkshire Hathaway, and is
currently ranked by Forbes as the third richest human on Earth with
an estimated net worth of approximately fifty four billion dollars.
Buffett is also a notable philanthropist, having pledged to give away
85% of his fortune to the Gates Foundation. He also serves as amember of the board of trustees at Grinnell College.
In 1999, Buffett was named the top money manager of the
twentieth century in a survey by the Carson Group, ahead of Peter
Lynch and John Templeton,
In 2007, he was listed among Time's 100 Most Influential People in
the world.
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Warren Buffett's Education
In 1947, a seventeen year old Warren Buffett graduated from HighSchool. It was never his intention to go to college.
He had already made $5,000 delivering newspapers (this is equal to$42,610.81 in 2000).
His father urged his son to attend the Wharton Business School atthe University of Pennsylvania
Buffett interested in the area of mathematics and statistics. Hefocused on mathematics and statistics at University of Nebraska tofinish his degree.
Harvard Business school (Rejected)Entered Columbia Universitys graduate school of business, where
he obtained a masters degree in business.
Ben Graham and David Dodd (Mentor)
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Money-Making Schemes
Age 6 - Peddled Coke
Age 9 - Carrying golf clubs for $3 per day
Age 11- Bought his first stock Age 11-13 - Sold used golf balls.
Age 13 - Carrier for Washington Post and 4 other
newspapers.
Age 14 - Bought 40 acres of farmland and leased it out
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Employment
Worked for Buffett-Falk & Co., as an investment salesman
after graduating with a Masters in Economics. (1951-1954) Worked for Graham-Newman Corp, as a securities analyst
(1954-1956)
Formed Buffett Partnership, Ltd and appointed himself
General Partner. (1956-1969) Bought over Berkshire Hathaway Inc in 1962 and became
Chairman and CEO in 1970
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Warren Buffet
He bought his share at the age of 11 and now
he regrets that he started too late.
Things were very cheap that time, Encourage
your children to invest
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SME
He bought a small farm at the age of 14 with
savings from delivering newspapers.
One could have bought many things with little
savings: Encourage your children to start some
kind of business
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Lifestyle
He still lives in the same small 3-bedroom
house in the mid-town Omaha, that he bought
after he got married 50 years ago. He says that
he has everything he needs in that house. Hishouse does not have a wall or fence.
Dont buy more than what you really need and
encourage your children to do and think thesame
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Management Style
His company, owns 63 companies. He writes
only one letter each year to the CEOs of these
companies, giving them goals of the year. He
never holds meetings or calls them on regularbasis.
Assign the right people to the right job
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Economic Nature
He never travels by private jet, although he
owns the worlds largest private jet company.
Always think how you accomplish things
economically.
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Bill Vs. Buffet
Bill Gates, the worlds richest man met him for
the first time only 6 years ago. Gates did not
think he had anything common with Buffet. So
he had scheduled his meeting only for half anhour. But when Gates met him the meeting
lasted for ten hours and Gates became a fan
of Warren Buffet.
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View About Money
Money doesnt create man but it is man who
create money.
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He is a Bull
In Bear Market