Warren Buffett

Male

White

Coarse public-record coding; race is a noisy, interpretive category.

European American

Descendant

Buffett family in Nebraska for multiple generations before Warren; not a migration story.

Presbyterian, non-practicing as an adult

Married at Dundee Presbyterian Church in Omaha in 1952; he has described himself as agnostic in adulthood.

A sitting congressman's household stood behind him through his twenties; there was never a point where failure meant losing a place to live.

A salaried analyst job at Graham-Newman from 1954-1956 before he ever ran his own money, plus a family that could have absorbed a setback.

His first wife, Susan Thompson Buffett, ran the household and raised their three children through the 1950s and '60s while he built the partnership and then Berkshire.

Domestic and childcare labor was absorbed by Susan Thompson Buffett, freeing his working hours entirely for reading filings and running the partnership.

The hardship was imposed, not chosen. There was nothing to fall back on.

There is no period of imposed austerity in the record; his later frugality (the $31,500 house) is a chosen personal habit, not a survival constraint.

Father Howard Buffett ran his own brokerage, Buffett-Falk & Co., from 1931, then served four terms as a Republican US Congressman from Nebraska starting in 1942. Mother Leila Buffett was a homemaker.

A parent worked for themselves, the strongest known predictor of founding.

Howard Buffett founded and ran his own brokerage before entering politics.

2

2

Second of three children, between older sister Doris and younger sister Roberta.

Grandfather Ernest Buffett ran Buffett's grocery store in Omaha for over four decades and put both Warren and, later, Charlie Munger to work there as teenagers.

Buffett family established in Nebraska for multiple generations before Warren; his father and grandfather were both locally prominent in Omaha.

Undergraduate and graduate tuition were family-funded; no record of debt or a job carrying the cost of either degree.

Comfortable, politically connected neighborhoods in Omaha, and later in Washington, D.C. during his father's congressional terms.

Public schools in Omaha and then Woodrow Wilson High School in Washington, D.C., graduating 1947.

His father's brokerage gave him direct childhood exposure to stock tickers and trading; as an adult his father's congressional office was itself a business and political network.

Moved from Omaha to Washington, D.C. in 1942 when his father took office, then to New York for Columbia and Graham-Newman in 1950-1954, then back to Omaha permanently in 1956.

At twenty, on his own initiative, he took a Saturday train to GEICO's locked Washington headquarters, got let in by a janitor, and spent four hours being taught the insurance business by an executive who was the only other person in the building. He later called it a turning point.

11

First stock purchase, three shares of Cities Service Preferred, at age eleven in 1942.

Studied under Benjamin Graham and David Dodd at Columbia, then worked as an analyst at Graham's firm, Graham-Newman Corp, from 1954-1956, an apprenticeship directly under the field's defining investor.

Chose Columbia specifically to study under Graham and Dodd rather than for the degree itself, after the Harvard rejection.

Harvard Business School rejected his application at nineteen after a ten-minute interview. Looking through Columbia's catalog that summer he recognized Graham and Dodd's names from a book he'd read and wrote asking to enroll.

After graduating Columbia he offered to work for Graham's firm for free; Graham turned him down at first, then hired him onto salary in 1954 after Buffett kept sending him stock ideas for a few years.

A congressman father gave him a base of business and political access in both Washington and Omaha from age twelve on.

BS in business administration, University of Nebraska, 1950; MS in economics, Columbia University, 1951, studying under Benjamin Graham and David Dodd.

Direct undergraduate-to-graduate path, redirected from Harvard to Columbia after rejection, both family-funded.

Columbia put him directly in Graham's classroom and, through that relationship, into a job at Graham-Newman two years after graduating.

Three shares of Cities Service Preferred, bought at eleven for $114.75 out of savings from paper routes and other side jobs.

Of the $105,100 that started Buffett Partnership Ltd in 1956, all but $100 came from his mother, sister, aunt, father-in-law, brother-in-law, a college roommate, and his lawyer.

It paid its own way from the start. Revenue came before any outside money.

The partnership earned fees on investment gains from its first year; there was no pre-revenue build phase.

Seven limited partners, four of them family, assembled the founding capital for the 1956 partnership; Buffett himself put in $100 and took a share of profits above a hurdle rate rather than a management fee.

In 1967 he used Berkshire Hathaway, the failing textile mill he'd taken control of two years earlier, to buy National Indemnity and a sister insurer for $8.6 million. The premiums those companies collected became investable capital he never had to raise externally or repay, known as float; it grew from about $19 million in 1967 to well over $100 billion decades later.

Delivered newspapers for two rival papers at once and ran a small pinball-machine business, placed in barbershops under an invented company name, that was clearing about $50 a week by the time he finished high school; he sold it for $1,200 before leaving for college.

Took control of Berkshire's board and operations in 1965 by accumulating a majority stake through the open market rather than being appointed or inheriting the role.

0

No documented failed venture; Berkshire's textile business itself underperformed for years under his ownership, but the vehicle survived and was repurposed rather than shut down.

One continuous run: paper routes and pinball machines as a teenager, into Graham-Newman, into the 1956 partnership, into Berkshire, with no gap, reset, or return to a salaried job.

25

Age at founding of Buffett Partnership Ltd in 1956.

Started the partnership in 1956, at the front of decades of postwar US equity market growth.

25

Continuous professional compounding dates from the 1956 partnership founding; the insurance-float structure that scaled it followed in 1967, at age 37.

70

1956 partnership founding to end of 2025, when he stepped down as CEO at 95; he remains chairman and an investor, so the run continues in a reduced role.

Returned to Omaha permanently in 1956 after Columbia and Graham-Newman, deliberately building outside New York and Wall Street for the rest of his career.

Bought his Omaha house in 1958 for $31,500 and still lived in it as of 2023, alongside a famously low personal spending rate relative to his wealth.

Investing and insurance

147600000000

Forbes real-time tracker, August 8, 2026; fluctuates daily with Berkshire's share price.

Public equity

Nearly all of his net worth is his disclosed, market-priced stake in publicly traded Berkshire Hathaway shares, not a private-company estimate.

2026

Wealth is almost entirely unrealized appreciation in Berkshire stock held for decades, not salary; his official CEO salary was a nominal $100,000 a year for many years.

Presidential Medal of Freedom, 2011. Co-founded the Giving Pledge with Bill and Melinda Gates in 2010. Has donated more than $60 billion to charity to date, mostly to the Gates Foundation, and is redirecting future giving toward family-run foundations with a goal of distributing nearly all his Berkshire shares by 2034.

Uncapped

SEC formally investigated Berkshire subsidiary Blue Chip Stamps' 1974-75 acquisition of Wesco Financial after a competing merger fell through and Wesco's stock dropped sharply. Buffett and Charlie Munger were subpoenaed and testified over two days. The matter settled by consent decree restricting Blue Chip's future acquisitions; no individual, including Buffett, was named or charged.

After

Berkshire was already an established holding company under his control by the time of the 1974-75 investigation.

Incidental

Civil wrong

Fine absorbed

Consent decree bound the corporation; no personal fine or liability for Buffett is documented.

In 1991 he became interim chairman of Salomon Brothers, a company he was invested in but had not founded or run, after a bond-trading scandal by Salomon staff, and testified to Congress apologizing on the firm's behalf. He was not implicated in the underlying misconduct.

Folksy, Trustworthy, Patient

Public

Asset

His reputation for integrity was specifically why Salomon's board brought him in during the 1991 crisis, and why regulators accepted him as interim chairman.

The folksy 'Oracle of Omaha' persona coexists with a reputation among counterparties for extracting hard terms fast in a crisis, as in the Salomon and 2008-financial-crisis deals.