The rich invest in time, the poor invest in money. | Inspiring Warren Buffet Quotes

Описание: #WarrenBuffetQuotes

“The rich invest in time, the poor invest in money.” | Inspiring Warren Buffet Quotes

Who is Warren Buffet?
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Warren Buffett, in full Warren Edward Buffett, (born August 30, 1930, Omaha, Nebraska, U.S.), American businessman and philanthropist, widely considered the most successful investor of the 20th century, having defied prevailing investment trends to amass a personal fortune of more than $60 billion.

Known as the “Oracle of Omaha,” Buffett was the son of U.S. Rep. Howard Homan Buffett from Nebraska. After graduating from the University of Nebraska (B.S., 1950), he studied with Benjamin Graham at the Columbia University School of Business (M.S., 1951). In 1956 Buffett returned to Omaha and in 1965 took majority control of the textile manufacturer Berkshire Hathaway Inc., turning it into his primary investment vehicle. From the 1960s through the ’90s the major stock averages rose by roughly 11 percent annually, but Berkshire Hathaway’s publicly traded shares gained about 28 percent per year. Though Buffett’s success with Berkshire Hathaway made him one of the world’s wealthiest men, he eschewed lavish spending and criticized governmental policies and taxation that favored the rich over the middle or lower classes.

In June 2006 Buffett announced that he planned to donate more than 80 percent of his wealth to a handful of private charitable foundations. The main recipient was the Bill & Melinda Gates Foundation—created by Microsoft founder Bill Gates and his wife—which focused on issues of world health and education. Gates and Buffett had maintained a close friendship since the early 1990s, and the foundation was slated to receive Buffett’s funds in increments that would eventually raise its assets to an estimated $60 billion. The other organizations receiving donations were those run by Buffett’s three children and the Susan Thompson Buffett Foundation, named for his late wife, which focused on women’s reproductive rights and funded college scholarship programs.

During the subprime mortgage crisis of 2007–08, Buffett made a number of deals that, though questioned at the time, proved highly profitable. In September 2008 he invested $5 billion in the U.S.-based bank holding company Goldman Sachs Group, Inc., and the following month Berkshire Hathaway purchased $3 billion in General Electric Company (GE) preferred stock. In November 2009 Buffett announced that Berkshire was buying the railroad company Burlington Northern Santa Fe Corporation for about $26 billion; the investment group already owned approximately 23 percent of the railroad. In 2011 Buffett was awarded the Presidential Medal of Freedom.

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