I bow down to him, hats off to the Billionaire Investor, Warren Buffet – I am motivated and inspired by his business ethics

Warren Edward Buffett, an, American investor, businessman, and philanthropist (born on August 30, 1930, in Omaha, Nebraska) . The only boy in the family, he was the second of three children, and displayed an amazing aptitude for both money and business from a very early age.

He is regarded as one of the world’s greatest stock market investors, and is the largest shareholder and CEO of Berkshire Hathaway. With an estimated net worth around US$62 billion, he was ranked by Forbes as the richest person in the world as of February 11, 2008.

Often called the “Oracle of Omaha,” Buffett is noted for his adherence to the value of investing philosophy and for his personal frugality despite his immense wealth.

Buffett is also a noted philanthropist. In 2006, he announced a plan to give away his fortune to charity, with 83% of it going to the Bill & Melinda Gates Foundation. In 2007, he was listed among Time’s 100 Most Influential People in The World. He also serves as a member of the board of trustees at the Grinnell College.

The second richest man who has donated $31 billion to charity. Here are some very interesting aspects of his life:
1. He bought his first share at age 11 and he now regrets that he started too late!
2. He bought a small farm at age 14 with savings from delivering newspapers.
3. He still lives in the same small 3-bedroom house in mid-town Omaha, which he bought after he got married 50 years ago. He says that he has everything he needs in that house,, though his house does not have a wall or a fence.
4. He drives his own car everywhere and does not have a driver or security around him.
5. He never travels by private jet, although he owns the world’s largest private jet company.
6. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis. He has given his CEO’s only two rules. Rule number 1: Do not lose any
of your share holder’s money. Rule number 2: Do not forget rule number 1.
7. He does not socialize with the high society crowd. His past time
after he gets home is to make himself some pop corn and watch Television.
8. Bill Gates, the world’s richest man met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.

9. Warren Buffet does not carry a cell phone, nor has a computer at his desk.

His advice for young people: “Stay away from credit cards and invest in yourself and
Remember:
A. Money doesn’t create man but it is man who created money.
B. Live your life as simple as you are.
C. Don’t follow what others say, just listen to them, but do what you feel good.
D. Don’t go for brand name; just wear those things in which you feel comfortable.
E. Don’t waste your money on unnecessary things; just spend on them who really need money.
F. After all it’s your life; then why give chance to others to rule your life.”

Visit for more information

http://www.buffettsystem.com/

http://beginnersinvest.about.com/cs/warrenbuffett/a/aawarrenbio.htm

http://en.wikipedia.org/wiki/Warren_Buffett

By Prathima V

Advertisements