Warren Buffett

Categories: Business & Finance | Entrepreneurs

  • Warren Buffett, the current Chairman and CEO of Berkshire Hathaway, was ranked by Forbes magazine as the richest person in the world in February 2008, with a net worth of $62 billion. As of February 2009, he is ranked #2 with $37 billion. He is regarded as one of the greatest investors in the world, making the majority of his wealth in the stock market.

    On May 2, 2009, Buffett told the press that he believed the U.S. Government was making the right moves to fix the economic crisis, stating that no one should expect perfection with the current "financial hurricane."Baltimore Sun: ... Buffett Says US Government is Taking the Right Steps...

    On June 21, 2009, it was reported that Buffett has made a $1 billion gain on his recent $5 billion investment in Goldman Sachs.http://www.guardian.co.uk/business/2009/jun/21/goldman-sachs-bonus-payments

  • Berkshire Hathaway

    On February 28, 2009, Buffett told his share holders that in 2008, Berkshire Hathaway had suffered the worst decline since he took over the company in 1965. The information was part of an annual letter to share holders.Los Angeles Times: Buffett sees economy in 'shambles' but holds out hope (February 28, 2009)

  • Background

    Buffett attended Columbia University, where he was heavily influenced by economist Benjamin Graham. Under the teachings of Graham, Buffett learned the principals of Value Investing, which is the foundation of his investing philosophy to this day.

  • Philanthropy

    Buffett has also been a prominent philanthropist, contributing billions of dollars to the Bill & Melinda Gates Foundation, and further announcing that he would give away 85% of his Berkshire holdings over time to charitable foundations.

  • Obama and Buffett

    In an interview airing on January 18, 2009 with Dateline NBC, Buffett spoke on the current economic crisis. Buffett said that Americans currently are in a cycle of fear where they avoid spending and investing. The result is more fear, he said. Buffett also spoke of his position as an economic adviser to President-elect Barack Obama and expressed his hope in Obama's ability to improve the country's financial situation. "You couldn't have anybody better in charge", Buffett said.Fox News: Warren Buffett Says U.S. In 'Economic Pearl Harbor' (January 19, 2009)

    Buffett has later been skeptical of some of President Obama's economic policies. In his 2009 letter to shareholders of Berkshire Hathaway, Buffett said that while he believes that government intervention in the financial system is necessary, he cautions against the risks and said it would eventually cause a "dangerous inflation".Times: Who's Right About the Economy: Buffett or Obama? (March 2, 2009)

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