Warren Buffett

Early Life

Warren Edward Buffett was born on 30 August 1930 in Omaha, Nebraska, the second of three children of Howard Buffett, a stockbroker who later served in the United States Congress, and Leila Stahl Buffett. As a boy he delivered newspapers, sold chewing gum and soft drinks door to door, and bought his first shares, in Cities Service, at the age of 11. As a teenager he ran a pinball-machine business with a friend and bought a small farm in Nebraska. He attended Woodrow Wilson High School in Washington, D.C., while his father served in Congress, then returned to Omaha for his final year of school.

Education

Buffett studied at the Wharton School of the University of Pennsylvania for two years, then transferred to the University of Nebraska, where he earned a Bachelor of Science degree in business administration in 1950. He then studied at Columbia Business School under Benjamin Graham, the author of The Intelligent Investor, earning a Master of Science in economics in 1951. Graham's teaching on value investing, buying shares for less than a company's underlying worth, shaped Buffett's entire career, and Graham later employed him at his investment firm.

Career

Buffett bought his first shares at the age of 11 and ran small businesses as a teenager, including a pinball-machine operation. After studying under Benjamin Graham at Columbia University, he worked at Graham's investment firm, Graham-Newman, from 1954 to 1956, then returned to Omaha and formed the Buffett Partnership in 1956. In 1965 he took control of Berkshire Hathaway, a textile manufacturer, and over time closed the textile business and used the company as a vehicle for investment, buying the insurer National Indemnity in 1967. With Charlie Munger he developed an approach of buying well-run businesses at fair prices, including See's Candies in 1972 and a large stake in the Coca-Cola Company from 1988. Berkshire grew into a conglomerate owning railroads, utilities, insurers and consumer brands. He remained chairman and chief executive for sixty years, holding the annual shareholders' meeting in Omaha, until announcing in May 2025 that he would step down as chief executive on 31 December 2025, with Greg Abel succeeding him. Abel took over on 1 January 2026, and on 18 September 2026 Buffett stepped down as chairman, becoming chairman emeritus, with his son Howard Buffett succeeding him as chairman; he remains a director.

Achievements

Buffett's central achievement was the transformation of Berkshire Hathaway, a struggling New England textile company he took control of in 1965, into one of the largest companies in the United States, built around insurance businesses whose premiums provided capital for investment. His long partnership with vice-chairman Charlie Munger, from 1978 until Munger's death in 2023, shaped the company's approach. He received the Presidential Medal of Freedom in 2011, and in 2010 he co-founded the Giving Pledge with Bill and Melinda Gates, committing to give away most of his fortune. His annual letters to Berkshire shareholders, written over six decades, are widely read as a guide to investing and business. During the financial crisis of 2008 he invested in Goldman Sachs and General Electric at a moment when few others would, a move later credited with helping to stabilise confidence in the financial system. In May 2025 he announced he would step down as chief executive at the end of that year, with Greg Abel succeeding him. Abel took over on 1 January 2026, and on 18 September 2026 Buffett stepped down as chairman, becoming chairman emeritus, with his son Howard Buffett succeeding him as chairman; he remains a director.

• Built Berkshire Hathaway from a struggling textile company into one of the largest companies in the United States, leading it as chief executive from 1965 to 2025 and as chairman until September 2026
• Received the Presidential Medal of Freedom in 2011
• Co-founded the Giving Pledge in 2010 with Bill and Melinda Gates, committing to give away most of his fortune
• Bought See's Candies in 1972, an investment he has called a model for his later approach
• Began investing in the Coca-Cola Company in 1988, a holding he kept for decades
• Wrote the annual letter to Berkshire Hathaway shareholders, widely read as a guide to investing and business
• Served as the long-time partner of vice-chairman Charlie Munger, who worked with him from 1978 until Munger's death in 2023
• Announced in May 2025 that he would step down as chief executive at the end of 2025, with Greg Abel succeeding him
• Helped stabilise the American financial system in 2008 by investing in Goldman Sachs and General Electric during the crisis
• Gave the annual Berkshire Hathaway shareholders' meeting in Omaha, attended by tens of thousands of investors each year

Legacy

Buffett is widely regarded as one of the most successful investors of the 20th and 21st centuries, and his annual shareholder letters and his partnership with Charlie Munger made value investing the best-known approach to the stock market. His public image as a plain-living investor who still lives in the Omaha house he bought in 1958 contrasts with the scale of the company he built. His philanthropy, including the Giving Pledge and his long-stated plan to give most of his fortune to charity, has influenced other wealthy donors. Critics note that his record was built in a particular era of American markets and that few investors have matched it; the profile records his record and notes that its causes are debated. Because he is a living person whose public work continues, this profile records only documented milestones and will need regular updating from reliable sources.

Contributions

Buffett's contribution was to show that patient, disciplined investing in understandable businesses could outperform the stock market over decades, and to explain that approach in plain language in his annual shareholder letters. His writings on insurance, on the difference between price and value, and on the dangers of debt have been read by generations of investors and business students. Through the Giving Pledge, which he co-founded in 2010, he also helped make large-scale philanthropy a public commitment among the very wealthy.

Notable Works

• Berkshire Hathaway annual shareholder letters (1965-2025)

Milestones

• 1930 — Born on 30 August in Omaha, Nebraska Source: Encyclopaedia Britannica
• 1941 — Bought his first shares at the age of 11 Source: Encyclopaedia Britannica
• 1950 — Earned a Bachelor of Science from the University of Nebraska Source: Encyclopaedia Britannica
• 1951 — Earned a Master of Science from Columbia University, studying under Benjamin Graham Source: Encyclopaedia Britannica
• 1954 — Joined Graham-Newman, Benjamin Graham's investment firm Source: Encyclopaedia Britannica
• 1956 — Formed the Buffett Partnership in Omaha Source: Encyclopaedia Britannica
• 1965 — Took control of Berkshire Hathaway Source: Encyclopaedia Britannica
• 1967 — Bought the insurer National Indemnity Source: Encyclopaedia Britannica
• 1972 — Bought See's Candies with Charlie Munger Source: Encyclopaedia Britannica
• 1978 — Charlie Munger became vice-chairman of Berkshire Hathaway Source: Encyclopaedia Britannica
• 1988 — Began investing in the Coca-Cola Company Source: Encyclopaedia Britannica
• 2010 — Co-founded the Giving Pledge with Bill and Melinda Gates Source: Encyclopaedia Britannica
• 2011 — Received the Presidential Medal of Freedom Source: Encyclopaedia Britannica
• 2025 — Announced he would step down as chief executive at the end of 2025 Source: Encyclopaedia Britannica; Berkshire Hathaway
• 2025 — Stepped down as chief executive; Greg Abel succeeded him Source: Encyclopaedia Britannica; Berkshire Hathaway
• 2026 — Stepped down as chairman; Howard Buffett succeeded him as chairman and Buffett became chairman emeritus Source: Berkshire Hathaway; Encyclopaedia Britannica

Timeline

1. 30 August 1930

   Born in Omaha, Nebraska

   Source: Encyclopaedia Britannica
2. 1941

   Bought his first shares at the age of 11

   Year only — exact date unknown Source: Encyclopaedia Britannica
3. 1950

   Earned a Bachelor of Science from the University of Nebraska

   Year only — exact date unknown Source: Encyclopaedia Britannica
4. 1951

   Earned a Master of Science from Columbia University, studying under Benjamin Graham

   Year only — exact date unknown Source: Encyclopaedia Britannica
5. 1954

   Joined Graham-Newman, Benjamin Graham's investment firm

   Year only — exact date unknown Source: Encyclopaedia Britannica
6. 1956

   Formed the Buffett Partnership in Omaha

   Year only — exact date unknown Source: Encyclopaedia Britannica
7. 1965

   Took control of Berkshire Hathaway

   Year only — exact date unknown Source: Encyclopaedia Britannica
8. 1967

   Bought the insurer National Indemnity

   Year only — exact date unknown Source: Encyclopaedia Britannica
9. 1972

   Bought See's Candies with Charlie Munger

   Year only — exact date unknown Source: Encyclopaedia Britannica
10. 1978

    Charlie Munger became vice-chairman of Berkshire Hathaway

    Year only — exact date unknown Source: Encyclopaedia Britannica
11. 1988

    Began investing in the Coca-Cola Company

    Year only — exact date unknown Source: Encyclopaedia Britannica
12. 2010

    Co-founded the Giving Pledge with Bill and Melinda Gates

    Year only — exact date unknown Source: Encyclopaedia Britannica
13. 2011

    Received the Presidential Medal of Freedom

    Year only — exact date unknown Source: Encyclopaedia Britannica
14. 3 May 2025

    Announced he would step down as chief executive at the end of 2025

    Source: Encyclopaedia Britannica; Berkshire Hathaway
15. 31 December 2025

    Stepped down as chief executive of Berkshire Hathaway; Greg Abel succeeded him

    Source: Encyclopaedia Britannica; Berkshire Hathaway
16. 18 September 2026

    Stepped down as chairman of Berkshire Hathaway; Howard Buffett succeeded him as chairman and Buffett became chairman emeritus

    Source: Berkshire Hathaway

In Their Words

“Price is what you pay. Value is what you get.” Source: Warren Buffett, Berkshire Hathaway annual shareholder letter, 2008 — Buffett's definition of the difference between price and value, written in his 2008 letter to Berkshire Hathaway shareholders.

“Be fearful when others are greedy and greedy when others are fearful.” Source: Warren Buffett, Berkshire Hathaway annual shareholder letter, 2004 — Buffett's advice on market behaviour, written in his 2004 letter to Berkshire Hathaway shareholders.

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Frequently Asked Questions

Sources & References

1. Warren Buffett — Encyclopaedia Britannica — Encyclopaedia Britannica (accessed 13 November 2026)
2. Warren Buffett — Wikipedia (cross-check) — Wikipedia (accessed 13 November 2026)
3. Berkshire Hathaway — official website — Berkshire Hathaway (accessed 13 November 2026)
4. Warren E. Buffett Becomes Chairman Emeritus, Remains Director; Howard G. Buffett Elected Chairman — Berkshire Hathaway (accessed 13 November 2026)
5. File:Warren Buffett with Fisher College of Business Student - 4395157720 (cropped).jpg — Wikimedia Commons (portrait file page) — Wikimedia Commons (accessed 13 November 2026)

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