Richest Americans - #2

Warren Buffett

Net Worth: $52 billion
Source: Berkshire Hathaway
Residence: Omaha
Age: 77
Marital Status: Widowed, remarried; 3 children

• Nation's most beloved investor is $6 billion richer this year despite handing over $2.1 billion in Berkshire Hathaway stock to charity in July.
• Berkshire shares up 24% over past 12 months; have averaged 21.4% annual return since 1965.
• Son of Nebraska politician delivered newspapers as a boy.
• Filed first tax return at age 13, claiming $35 deduction for bicycle.
• Studied under value investing guru Benjamin Graham at Columbia.
• Took over textile firm Berkshire Hathaway 1965.
• Today holding company invested in insurance (Geico, General Re), jewelry (Borsheim's), utilities (MidAmerican Energy), food (Dairy Queen, See's Candies).
• Also has noncontrolling stakes in Anheuser-Busch, Coca-Cola, Wells Fargo.
• Last year bought Israeli cutting-tool business Iscar and electronic components distributor TTI.
• Longtime critic of efforts to repeal estate tax; says wealth should not pass exclusively to members of "lucky sperm club."
• The Oracle of Omaha had long promised to give away his fortune posthumously.
• Last summer irrevocably earmarked the majority of his Berkshire shares to charity, mostly to the Bill & Melinda Gates Foundation. Gift was valued at $31 billion on day of announcement; donation will far exceed that sum so long as Berkshire shares continue to rise.

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