12. Warren Buffett has made billions through wise investments and intends to give 99% of it away before he dies
The ‘Sage of Omaha’, Warren Buffet has built up a massive personal fortune through savvy investments. A career than has spanned almost 70 years has helped him become the third wealthiest man in the whole world with a net worth of around $85 billion. However, as well as his market acumen, Buffet is also known for his personal frugality and generosity. Indeed, he has pledged to give away 99% of his personal fortune, a gesture that makes him one of the greatest philanthropists of all time.
Born in Omaha in 1930, Buffett developed an interest in the markets and investing at an early age. After graduating from the University of Nebraska at the age of 19, he attended Colombia Business School. It was here that he honed his investment philosophy. In particular, he embraced the concept of ‘value investing’, and this has served as the foundation of his work ever since. Since 1970, Buffett has served as the chairman and largest shareholder of Berkshire Hathaway – named after a textile company he bought out early in his business career – and over the decades, the holding company has invested widely and wisely.
For many years, Buffett has stated his intention to give most of his money away. In 2006, he announced he would give 84% of his fortune to the Bill & Melinda Gates Foundation, to be used for philanthropic causes. Along with other billionaires, he also signed the Gates-Buffet Giving Pledge, plus he hosts regular fundraising events in which he shares his time and wisdom in exchange for charitable donations.
Notably, Buffett isn’t the only major philanthropist in his family. All of his three children, as well as his sister, have set up charitable foundations of their own, helping schools, hospitals and numerous community projects both in Nebraska as well as across the United States and the wider world.