Warren Buffett $53.5 B 82 Berkshire Hathaway United States
Warren Buffett struck again in February, announcing a deal with Brazilian billionaire Jorge Paulo Lemann's 3G Capital to snap up iconic ketchup producer H.J. Heinz Co. for $23.2 billion. It wasn't the only deal for Buffett's Berkshire Hathaway lately. In November 2012 Berkshire acquired Omaha-based party supplier Oriental Trading Co. and in December 2012 the company purchased $1.2 billion of its own stock from "the estate of a longtime shareholder." Buffett completed radiation treatment for prostate cancer last summer, five months after he notified Berkshire Hathaway shareholders of his condition, assuring them that it was "not remotely life-threatening." Still, he has gotten his house in order: In December 2011 he chose his farmer son, Howard, as the future non-executive chairman and "guardian of the firm's values." In February 2012 he said he'd picked his CEO replacement but has declined to give a name. Buffett has also been busy expanding his philanthropy. He gave $1.5 billion to the Gates Foundation in July 2012, bringing his lifetime giving to nearly $17.3 billion. On his birthday in August 2012 Buffett pledged $3 billion of stock to his children's foundations. After studying under Benjamin Graham at Columbia Business School, Buffett offered to work for his former professor's investment partnership, Graham-Newman Corporation, for free. According to Buffett, "he turned me down as overvalued." It was only after several years of "pestering" that the father of value investing agreed to take on the younger man in 1954. When Graham retired two years later, Buffett returned to Nebraska to launch his own partnership. In 1962 Buffett began buying up shares of a struggling textile company called Berkshire Hathaway. Though Buffett has called Berkshire "the dumbest stock" he ever bought, the firm has long since shed its textile assets and today serves as Buffett's famed investment vehicle.
Warren Buffett struck again in February, announcing a deal with Brazilian billionaire Jorge Paulo Lemann's 3G Capital to snap up iconic ketchup producer H.J. Heinz Co. for $23.2 billion. It wasn't the only deal for Buffett's Berkshire Hathaway lately. In November 2012 Berkshire acquired Omaha-based party supplier Oriental Trading Co. and in December 2012 the company purchased $1.2 billion of its own stock from "the estate of a longtime shareholder." Buffett completed radiation treatment for prostate cancer last summer, five months after he notified Berkshire Hathaway shareholders of his condition, assuring them that it was "not remotely life-threatening." Still, he has gotten his house in order: In December 2011 he chose his farmer son, Howard, as the future non-executive chairman and "guardian of the firm's values." In February 2012 he said he'd picked his CEO replacement but has declined to give a name. Buffett has also been busy expanding his philanthropy. He gave $1.5 billion to the Gates Foundation in July 2012, bringing his lifetime giving to nearly $17.3 billion. On his birthday in August 2012 Buffett pledged $3 billion of stock to his children's foundations. After studying under Benjamin Graham at Columbia Business School, Buffett offered to work for his former professor's investment partnership, Graham-Newman Corporation, for free. According to Buffett, "he turned me down as overvalued." It was only after several years of "pestering" that the father of value investing agreed to take on the younger man in 1954. When Graham retired two years later, Buffett returned to Nebraska to launch his own partnership. In 1962 Buffett began buying up shares of a struggling textile company called Berkshire Hathaway. Though Buffett has called Berkshire "the dumbest stock" he ever bought, the firm has long since shed its textile assets and today serves as Buffett's famed investment vehicle.
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