hr: Money

Warren Edward Buffett, legendary value investor, turned an ailing textile mill into a financial engine that powered what would become the world’s most successful holding company.

The Early Years
Buffett was born to Howard and Leila Buffett on August 30, 1930, in Omaha, Nebraska.
Making money was an early interest for Buffett, who sold soft drinks and had a paper route. Unimpressed, Buffett left after two years, transferring to the University of Nebraska. Harvard rejected Buffett, but Columbia accepted him.

Upon graduation, Graham refused to hire Buffett, even suggesting that he avoid a career on Wall Street. Buffett’s father agreed with Graham, and Buffett returned to Omaha to work at his father’s brokerage firm.

The Foundation of Value
Once in New York, Buffett had the chance to build upon the investing theories he had learned from Graham at Columbia. In 1956, he returned to Omaha, launched Buffett Associates, Ltd., and purchased a house.

In 1985, Buffett shut down the textile business, but continued to use the name.

Buffett’s mystique remained intact until technology stocks became popular.

He remained married to Susan Thompson for more than 50 years after their 1952 wedding. They had three children, Susie, Howard and Peter. Buffett and Susan separated in 1977, remaining married until her death in 2004. Before her death, Susan introduced him to Astrid Menks, a waitress. Buffett and Menks began living together in 1978 and were married in August of 2006.

If you’re Warren Buffett, you give it away.

Buffett’s donations will come in the form of Class B shares of Berkshire Hathaway stock. Buffett’s 2006 donation was 500,000 shares, valued at approximately $1.5 billion.

At a June 2008 share value, the entire donation to the Gates Foundation is worth about $37 billion. Buffett expects stock price appreciation to increase that amount over time. Another stock donation of more than 1 million shares will be evenly divided among three charities run by Buffett’s children.

While the donation to the Gates Foundation was certainly a big surprise, Buffett’s charitable endeavors are nothing new. He’d been giving money away for 40 years through the Buffett Foundation, renamed as the Susan Thompson Buffett Foundation.