What is the Oracle of Omaha?

by Investing School on February 25, 2011

The oracle of Omaha is not a thing but rather, a person, Warren Buffet. Warren Buffet was born in Omaha, Nebraska on August 30, 1930 and was the second of three children. He was the only son of Leila and Howard Buffet.

His father was a businessman and politician and the family soon found themselves in Washington, D.C. where his father would serve four terms as a Congressman. Warren graduated from school there.

His interest in making and saving money started early. He used to go door to door selling gum, Coca-Cola and weekly magazines. In high school, Warren and a friend of his got the idea to purchase a pinball machine for $25 which they placed in a local barber shop. It took just a few months before they owned several machines in different local barber shops.
Mr. Buffet is one of the most successful investors in the world and a major philanthropist. Because of his success, he has garnered the name “Oracle of Omaha” or “Sage of Omaha.” He is well noted for being a very frugal person in spite of his great affluence.

He serves as a member of the Board of Trustees at Grinnell College and has promised to leave 85% of his mass fortune to the Gates Foundation. He is the chairman and CEO of Berkshire Hathaway of which he is the primary shareholder. He is almost always ranked among one of the richest people in the world and is currently ranked the third wealthiest person in the world as of 2010.

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