Warren Edward Buffett

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Berkshire Hathaway
Warren Edward Buffett
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OVERVIEW

• -Warren Edward Buffett was born on August 30 1930
  in Omaha Nebraska to his father Howard Buffett
  and was the second of three children, he being
  the only boy, his father Howard Buffett was a
  stockbroker and also became a member of congress
  An American investor , Businessman and
  Philanthropist. He has amassed an enormous
  fortune from astute investment. Particularly
  through the company Berkshire Hathaway, which is
  the largest shareholder and CEO(Chairman). With
  estimated current net worth of around US 42
  billion, second richest man in the world, only
  behind Bill Gates.
• Buffett studying at the Wharton School of Finance
  at the University of Pennsylvania, then
  transferred to the University of Nebraska where
  he graduated. He obtained a Master Degree in
  economics in 1951 at Columbia Business school.
  This was where he met the influential value
  investor Benjamin Graham. In 1952 he married with
  his wife Susan Thompson.

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Philanthropy

• In June 2006, Warren Buffett announced plans to
  contribute
• approximately 10 million Berkshire Hathaway class
  B shares to the Bill
• Melinda Gates Foundation. (worth approximately
  US 30.7 billion),
• made it the charitable donation in history.
• Buffett also announced plans to contribute
  additional Berkshire stock
• valued at approximately 6.7 billion to the Susan
  Thompson Buffett
• Foundation and to other foundations headed by his
  three children.
• This is a significant shift from previous
  statement Buffett has made,
• having stated that most of his fortune would pass
  to his Buffett
• Foundation.

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Investment

• 1936 (6 years old) Buffett purchased 6-packs of
  Coca Cola from his grandfather's grocery store
  for twenty five cents
• 1941 (11 years old), he purchased three shares
  of Cities Service.
• 1945 (15 years old) In his senior year of high
  school..
• 1950 (20 years old) Buffett applied for
  admission to Harvard Business school and was
  turned down. During this time, Buffett also
  pledged to the Alpha Sigma Phi fraternity. He is
  still active today, donating every year to the
  fraternity.
• 1951 (21 years old) Buffett graduated and wanted
  to go to work on Wall Street. Been teaching in
  University of Nebraska.
• 1954 (24 years old) Benjamin Graham offered him
  a job at his partnership at a starting salary of
  12,000 a year. He worked closely with Walter
  Schloss

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• 1956 (26 years old)Graham retired and folded up
  his partnership.
• 1959 (29 years old)Buffett was introduced to
  Charlie Munger.
• 1962 (32 years old)Buffett discovered a textile
  manufacturing firm, Berkshire Hathaway.
• 1965 (35 years old)Took control of Berkshire
  Hathaway at the board meeting and named a new
  President.
• 1967 (37 years old)Berkshire paid out its first
  and only dividend of 10 cents.
• 1970 (40 years old) Buffett began writing his
  now-famous annual letters to shareholders.
• 1973 (43 years old)Berkshire began to acquire
  stock in the Washington Post Company. Buffett
  became close friends with Katharine Graham.
• .

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• 1979 (49 years old)Berkshire began to acquire
  stock in ABC. Trading at 290 per share,
  Buffett's net worth neared 140 million. However,
  he lived solely on his salary of 50,000 per
  year.
• 1988 (58 years old)Buffett began buying stock in
  Coca-Cola Company, eventually purchasing up to 7
  percent of the company for 1.02 billion.
• 2002 (72 years old)Buffett entered in 11
  billion worth of forward contracts to deliver US
  dollars against other currencies. By April 2006,
  his total gain on these contracts was over 2
  billion.
• 2006 (76 years old)Buffett announced in June
  that he would give away more than 80, or about
  37 billion, of his 44 billion fortune to five
  foundations in annual gifts of stock, starting in
  July 2006. The largest contribution will go to
  the Bill and Melinda Gates Foundation.

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Usg-Usg Corporation

• Usg corporation engages in manufacture and
  distribution of building materal worldwide,
  including gypsum wallboard and construction
  plaster products used in various building
  application to finish the interior walls.
• Berkshire Hathaway announced increased ownership
  of USG corp to 19 percent and now owns 17.7
  million shares of the wallboard manufacturer.
• Buffett said he purchased 371.200 shares of USG
  on Oct 4th, because after they in august he
  bought 741,700 shares total. Recent price is
  around 50.60
• Warren Buffets company has been buying USG, even
  thought 60 of the companys business goes into
  housing. The reason he buy things because he buy
  things that he believes will have incredible
  value over the long term.

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