“The Oracle of Omaha” Warren Buffett recently saw his wealth dip as he fell behind Oracle’s Larry Ellison on the Bloomberg Billionaires Index. As of Nov. 27, 2023, Buffett had amassed a net worth of $106 billion, according to Bloomberg Billionaires Index’s real-time wealth tracker. Buffett’s net worth is down from a total of $118 billion recorded in 2022, per Forbes.
Buffett, CEO and chair of investment firm Berkshire-Hathaway, remains a fixture on the billionaires list. But his fortune wasn’t obtained overnight; it’s been decades in the making.
Buffett is said to have bought his first investment at age 11 and was worth $60,000 (adjusted for inflation) by age 16, according to Celebrity Net Worth. Since then, he’s earned the reputation as someone who believes in giving back as much as he has earned. In 2010, he formed The Giving Pledge with Bill and Melinda Gates, which suggests that billionaires donate at least 50% of their net worth to charity during their lifetimes.
Warren Buffett’s Early Years
Born on Aug. 30, 1930, Warren Buffett hails from Omaha, Nebraska. His first job was as a paperboy, and he invested his earnings in real estate. In high school, he launched a pinball business and accumulated a net worth of $6,000. After moving with his family to Washington D.C., he graduated from Woodrow Wilson High School in 1947. His prophetic yearbook picture had the caption: “a future stockbroker.”
Buffett graduated from the University of Nebraska with a Bachelor of Science in Business Administration, then enrolled in Columbia Business School where he earned his Master of Science in Economics.
Warren Buffett and Berkshire Hathaway
When Warren Buffett first got involved in the now-legendary investment firm Berkshire Hathaway, it was a textile manufacturing company. By 1979, the company was trading at $775, ending the year worth $1,310 per share. His accomplishments earned him the nickname “Oracle of Omaha,” as his personal net worth skyrocketed to $620 million by 1983.
Warren Buffett’s Wealth
Today, Warren Buffett’s wealth as one of the top 10 billionaires in the world comes largely from his ownership in investment firm Berkshire Hathaway. The firm owns over 60 companies including the likes of Geico Insurance, Duracell batteries and Dairy Queen restaurants, according to Forbes.
Buffett recently invested $814 million in home building firms, with the lion’s share going to D.R. Horton’s, according to the Financial Times. In the past, Buffett steered clear of real estate as an investment vehicle. But investing in property and investing in the housing market, as a whole, by putting money into homebuilding companies, are two different things.
Buffett continues to live in the modest 5-bedroom home he purchased in Omaha in 1956 for $31,600. In a video on Yahoo Finance, he said the only house in his personal portfolio is the third-best investment he has ever made, behind his wedding rings for himself and his wife.
Today, his Omaha house is valued at roughly $1.4 million, according to Realtor.com. However, he said that he could have made more money renting the house and using the money to purchase stocks.
More From GOBankingRates
- Money Expert Rachel Cruze Recommends Buying These 10 Used Cars for Under $10K
- 11 Uncommon Investments That Can Actually Make You A Lot of Money
- 3 Things You Must Do When Your Savings Reach $50,000
- 5 Fastest Ways to Raise Your Credit Score Without a Credit Card