The Chairman and Chief Executive Officer of Berkshire Hathaway, one of the world’s largest holding company’s, is Warren Buffet. Warren Buffet’s career has been one of the greatest rags to riches stories ever told. The Omaha, Nebraska native is one of the world’s wealthiest people despite the outward appearances.
Buffet was born and raised in Omaha and first began his infatuation with investing as teen. He would regularly check the finance section of the newspaper and look at the ups and downs of the stock market. This led to him applying to and attending the prestigious University of Pennsylvania Wharton School of Business. After just a year a the school, Warren transferred to the University of Nebraska, where he graduated from in 1949. he then attended Columbia University where he obtained his MBA in 1951.
That same year Buffet acquired a textile manufacturer with his good friend and long-time business partner, Charlie Munger. The name of that textile company was Berkshire Hathaway and Buffet soon transformed it into a holding company. He decided to begin investing in companies that he was familiar with and that made products that he like and used. This led to him buying and holding a number of quality stocks like Ford and Coca-Cola.
Buffet’s buy and hold strategy has proved to be highly successful and he is currently worth approximately $90 billion, making him the third richest person in the world. He continues to maintain a meager lifestyle in Omaha, living in the same home for half a century.
Buffet continues to stress the importance of his buy and hold strategy, a strategy that not many can seem to replicate. Berkshire Hathaway, under Buffet’s guidance, frequently out-earns the market. His career has truly been one of the greatest financial success stories of the past 100 years.