Buffett turned a talent for business and a head for numbers into a very successful investment career. His investment strategies and business plans have been both copied and criticized.
Warren Buffett bought his first stock at the age of eleven, later selling it for a profit of $5 per share. He enrolled in Columbia University in 1950 to study under Benjamin
Nicknamed the Oracle of Omaha, Buffett is famous for living modestly despite his enormous wealth. His salary is about $100,000, the lowest of all the chief executive officers in the Fortune 500 list of companies. The headquarters staff for Berkshire Hathaway consists of about fifteen people, also the lowest in the Fortune 500. He lives in the same house in Omaha that he bought in 1958 for $31,500. Buffett also is a noted
In 2008, during the financial crisis, Buffett invested $5 billion in the Goldman Sachs Group and his Berkshire Hathaway (a holding company) agreed to buy $3 billion in preferred stock of ailing General Electric. These investments were viewed as being in line with Buffett’s strategy, which is to invest in good companies when they are experiencing weakness. His moves were regarded as providing the companies with a boost not only to the companies’ bottom lines but also to their reputations.
Buffett, Warren. The Essays of Warren Buffett: Lessons for Corporate America. Edited by Lawrence A. Cunningham. New York: Cunningham Group, 2001. Lowenstein, Roger. Buffett: The Making of an American Capitalist. New York: Random House, 1995. O’Loughlin, James. The Real Warren Buffett: Managing Capital, Leading People. London: Nicholas Brealey, 2004.
Financial crisis of 2008
John D. Rockefeller