Top 10 Richest Men - RichestMen.info

Third Spot: Warren Edward Buffett

Warren Edward Buffett (born August 30, 1930) is a wealthy American investor and businessman. Nicknamed the "Oracle of Omaha", Buffett has amassed an enormous fortune from astute investments, particularly through his company Berkshire Hathaway, in which he holds a greater than 31% stake. With an estimated current net worth of $62 billion, he is ranked by Forbes as the richest person in the world, replacing Microsoft chairman Bill Gates from his top spot after 13 years.

Fortune	Business	Country	Status
47 Billion	Investments	USA	Widowed, remarried, 3 children

After receiving the only A+ Benjamin Graham ever handed out to his security analysis class, Buffett wanted to work at Graham-Newman but was turned down. He went to work at his father's brokerage as a salesman. A stock he pushed was GEICO.

Buffett picked GEICO after noticing Graham was a director and had a large position in it. Never one to buy a stock on a whim, Buffett visited GEICO's head office on a weekend to investigate further.

He knocked until someone opened the door, he was led to the future president of GEICO. Buffett introduced himself as Graham's student and was given a crash course on the insurance business and what gave GEICO an enduring advantage over their competitors. Buffett was exposed to the economics of selling direct, the wonderful float GEICO produces, its low combined ratio and the likes. (wiki)

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RichestMen.info 2006