Net Worth: $70.9 Billion
About Warren Buffett
American business magnate, investor, industrialist and philanthropist, Warren Buffett, has a net worth of $70.9 billion as of March 2015 according to Forbes. Unlike the other wealthy people on Forbes’ top 10 rich list, Buffett doesn’t have an oil well, retail empire, or a brain for computing to show for it – he simply has a lot of share certificates. The world’s third richest man made his fortune through companies that he believed were worth more than their market value, investing in them for the long-term. It’s certainly paid off. He joined Bill Gates’ “Giving Pledge,” aim to donate 99% of his wealth to charity. He wants the 99% spent within 10 years of his death.
The world’s third-richest man still lives in his 6,000-square-foot, five-bedroom grey stucco home that he bought in for $31,500 in 1958.
Warren Buffett is wealthier than ever thanks to the stellar performance of his diversified holding company, Berkshire Hathaway. Its coveted Class A stock, which is the most expensive of any public U.S. company, eclipsed $200,000 per share for the first time in August 2014. Buffett moved to 3rd richest on Forbes’ 2015 list of the world’s richest, up 4th richest in 2014. With dozens of subsidiaries, including in railroads, insurance and energy, Berkshire Hathaway posted $182 billion in 2013 revenue and $19.5 billion in net income. Still inking big deals, Buffett’s Berkshire Hathaway bought battery maker Duracell from Procter & Gamble in November 2014 for $4.7 billion. A generous philanthropist, he bested his own giving record in July 2014, giving away Berkshire shares worth $2.8 billion, primarily to the Bill & Melinda Gates Foundation but also to his children’s foundations, bringing his lifetime giving to nearly $23 billion. Buffett says his best ever investment was buying Benjamin Graham’s book “The Intelligent Investor” in 1949. He later studied under Graham before moving home to Nebraska and acquiring a struggling textiles company in 1962, Berkshire Hathaway. In early February 2015, it was the fourth most valuable public company in the U.S. with a market capitalization of $355 billion. latest deal, the $50 billion acquisition of Kraft Foods that was announced on March 25th, passes only one of those tests. Most people can get their heads around the slices of processed cheese and hot dogs that Kraft churns out—indeed Mr Buffett, known to favour plain fare, would probably like to get his lips round them, too. But as a business, Kraft is a bit of a mess.
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