Date of Birth: 30/07/1930
Place of Birth: Omaha, Nebraska
Education: BS in Economics, University of Nebraska, 1950; MS in Economics, Columbia University, 1951;
Career: Investment Salesman, Buffett-Falk& Co, Omaha, 1951-54; Securities Analyst, Graham-Newman Corp, New York, 1954-56; General Partner, Buffett Partnership, Ltd, 1956-69; Chairman and CEO, Berkshire Hathaway Inc, Omaha, 1970 to date.
Warren Buffett began a limited investing fund partnership with a group of friends, family and associates. The Buffett Partnerships Ltd fund racked up amazing returns for its investors over a ten year period, with returns 10 times higher than the Dow Jones Industrial average for the same time.
Buffett liquidated the fund and took control of the textile company Berkshire Hathaway.
It was a difficult time for the textile industry and Buffett eventually wound up Berkshire Hathaway's textile activities, but kept the name for Buffett's portfolio of companies and investments.
The insurance industry was the first major area of success that Berkshire Hathaway had, with the funds used to acquire carefully selected investments each year. Major undervalued companies that Buffett took advantage of included American Express, Coca-Cola, The Washington Post and Gillette.
Berkshire Hathaway owns large holdings of each of the above major brand companies (more than 5% each).
Vol 50 N0 14
AFRICA | UNITED STATES
At the same time, the new breed of corporate philanthropists such as the Bill & Melinda Gates Foundation, which has drawn contributions from fellow billionaire Warren Buffet, are now disbursing several billion dollars a year for health and education projects, sums that can exceed US and other bilateral aid...
Vol 48 N0 20
Official aid flows to Africa are stagnating in real terms, but there has been a rapid growth in 'vertical funds' financed by private philanthropists such as US software magnate Bill Gates, investor guru Warren Buffet and former US President Bill Clinton's Foundation...