Everybody who has access to any kind of media has probably heard of Warren Bonnett, CEO of Berkshire Hathaway, a very successful investment firm since the sixties that has made Buffett currently, the second wealthiest person in the world.
How would you like to have Warren Buffett take your life savings of $67,000 and invest your savings for you? Well, that is exactly what Warren Bonnett did for his neighbors, Dorothy and Myer Kripke.
Warren Buffett took the Kripke’s life savings of $67,000 and made them millionaires. By the mid-nineties, they were multi-millionaires, worth about $25 million dollars in their net worth. In comparison, by today’s dollars, the $25 million dollars will be worth 440 million dollars.
Even though Myer and Dorothy became very wealthy, they continued to live a modest life. They stayed in their modest three-bedroom Omaha apartment. Myer was an ordained
rabbi and continued his work as a rabbi at a local synagogue for a salary of $30,000 a year.
The Kriphe’s largest indulgence was philanthropy. The family gave millions of dollars to charities. Their donation of $7 million helped rebuild a library at the Jewish Theological Seminary located in Manhattan. This Seminary held a special place in Myer and Dorothy’s hearts. This is where as students at the seminary Myer and Dorothy first met each other years ago. In addition to the donation to the seminary, a donation of $8 million was given to the couple’s alma mater.
Dorothy Kripke passed away at the age of 88 on September of 2014. Myer lived to be a 100 years old and passed away on May of 2014. Warren Buffett, now 87 years old, is still Chief Executive Officer of Berkshire Hathaway, a profitable investment firm, he founded in the mid-sixties. Currently, Warren Buffett is the second wealthiest person in the world.