Price is what you pay. Value is what you get.
Warren Edward Buffett (born August 30, 1930) is an American investor, philanthropist, and the chairman and CEO of Berkshire Hathaway, a holding company that grew from a failing textile mill into a $900+ billion conglomerate. Known as the Oracle of Omaha, he turned $10,000 in 1950s savings into a personal fortune exceeding $140 billion (2025), making him one of the wealthiest humans ever. A disciple of Benjamin Graham’s value investing, Buffett buys “wonderful businesses at fair prices” and holds them “forever.” His annual Berkshire shareholder letters are bibles of capital allocation; his Pledge to give away 99% of his wealth reshaped modern philanthropy. At 95, he still eats Cherry Coke and Dairy Queen while outthinking Wall Street.
Born in Omaha, Nebraska, during the Great Depression, Buffett was the second of three children of Howard Buffett (stockbroker and four-term congressman) and Leila Stahl. He sold chewing gum door-to-door at age 6, delivered Washington Post newspapers (2,000+ copies daily), and filed his first tax return at 13—deducting his bicycle as a business expense.
Obsessed with numbers, he memorized corporate statistics like baseball cards. At 10, a single Wall Street lunch with a Dutch broker ignited his lifelong passion. By 11, he bought his first stock (Cities Service Preferred, 3 shares each for himself and sister Doris).
Post-grad, he worked as a salesman at Buffett-Falk & Co. (his father’s firm) while taking Dale Carnegie public-speaking courses to overcome shyness.
| Year | Entity | Milestone |
|---|---|---|
| 1951–54 | Graham-Newman Corp. | Analyst; learned “cigar-butt” investing (cheap, dying companies) |
| 1956 | Buffett Partnership Ltd. | Started with $105,100 (his $100 + family/friends); Omaha living room office |
| 1962–65 | Berkshire Hathaway | Bought control of textile mill at $7.50/share; pivot to insurance |
| 1967 | — | First National Indemnity purchase; “float” became capital engine |
| 1970s | — | Stakes in Washington Post, GEICO (full control 1996) |
| 1988 | Coca-Cola | $1B investment; still holds ~9% |
| 1989 | — | Partnership dissolved; all assets into Berkshire |
| 2006 | Iscar | First non-U.S. acquisition ($4B, Israel) |
| 2010 | Burlington Northern | $44B bet on American infrastructure |
| 2016 | Apple | $1B → $170B position by 2025 |
Compound Annual Return (1965–2024): ~20% vs. S&P 500 ~10%.
| Rule | Quote |
|---|---|
| Circle of Competence | “I’m no genius. I’m smart in spots… I stay around those spots.” |
| Margin of Safety | Buy at 50¢ what’s worth $1 |
| Economic Moat | Durable competitive advantage (brand, cost, network) |
| Temperament > IQ | “Investing is not a game where the 160-IQ guy beats the 130-IQ guy.” |
| Never Lose Money | Rule #1: Never lose money. Rule #2: Never forget Rule #1. |
At 95, Buffett:
Still drives a 2014 Cadillac XTS; flies NetJets but books commercial when possible.
Critics cite underperformance vs. tech indices in 2010s and succession risk, yet Berkshire’s $1 trillion market cap (2024) and AAA credit (one of three U.S. firms) silence doubters.
Buffett proved that patience is alpha, integrity is wealth, and a cherry-flavored soda can compound into an empire. He turned Middle America into the world’s greatest classroom—one See’s peanut brittle at a time.