15 Things You Didn't Know About Warren Buffett

15 Things You Didn't Know About Warren Buffett

We cover a lot of fascinating business people and entrepreneurs in this series, and few are as famous and legendary as Warren Buffett. Born during the Great Depression, Buffett rose to global fame for his immense wealth and investment acumen. A stalwart of value investing, he embodies traditional investment principles. He was the richest person in the world in 2008 and currently ranks third, following Bill Gates, whom we've covered in a previous video, and Amancio Ortega, who we will cover in the future. When it comes to investing, no name carries more weight than Buffett, so we had to do a video on him. Here are 15 things you didn't know about Warren Buffett.

1. Buffett bought his first stock at age 11.

From a very young age, Buffett set his sights high. He started by buying shares in Cities Service Preferred for $38 each. He filed his first tax return during his teenage years and sold his first venture before graduating high school. While his classmates dreamed of becoming movie stars, 10-year-old Buffett was having lunch with a New York Stock Exchange member and setting life goals. By 16, he had amassed the equivalent of around $50,000 today, earning $175 per month—more than his teachers and many adults.

2. He's worked from the same desk for 50 years.

At 86, Buffett is predictably old school. Instead of a computer, he uses pen and paper and keeps an encyclopedia set by his desk. He also has a cabinet full of football memorabilia. Buffett has worked from the same office for 50 years with no plans to move. He initially wanted to work for his idol, Benjamin Graham, author of "The Intelligent Investor," but Graham refused to hire him because he was Jewish.

3. He's surprisingly thrifty for a billionaire and a technophobe.

During an interview on the Pierce Morgan Show, Buffett revealed he only had a Nokia flip phone and had no plans to upgrade. He said he doesn't throw anything away until he's had it for 20 or 25 years and has only sent one email in his life, to Jeff Raikes of Microsoft.

4. He spends most of his day reading.

Buffett once said, "I just sit in my office and read all day." He sees his job as learning as much as he can and reads between 600 and 1,000 pages of material daily.

5. Buffett doesn't believe gold is a good investment.

In 1998, Buffett stated that gold had no use or purpose, making it a poor investment. He believes aliens would be mystified seeing humans dig gold out of the ground.

6. He loves junk food and consumes about 2,500 calories a day.

Buffett's favorite meal is a burger and a Cherry Coke. He claims to eat whatever he wants and couldn't be bothered with vegetables, even if they would prolong his life.

7. Buffett contemplates his investments while soaking in the bath.

Before investing in Bank of America, Buffett reviewed facts and figures in the bath. The relaxing environment helped him decide to buy $5 billion in Bank of America shares.

8. He has donated a total of $25 billion to charities worldwide.

Buffett's children have their own charitable foundations to which he regularly contributes. He also donates to the Bill and Melinda Gates Foundation.

9. Bill Gates and Buffett are best friends.

Gates and Buffett have been friends for 25 years, enjoying bridge, book recommendations, and even sleepovers. For more on their friendship, check out our video "15 Things You Didn't Know About Bill Gates."

10. Buffett continues to live in the $31,500 house in Omaha that he bought in 1958.

Despite his success, Buffett practices frugality. He has stayed in the same house for many years and doesn't indulge in the typical trappings of wealth.

11. Buffett's net worth is greater than the combined GDP of Ghana and Cambodia.

At the end of 2016, Buffett's net worth was $71 billion, more than some countries' GDP. He's the third richest man in the world, despite his relatively modest $100,000 salary from Berkshire Hathaway.

12. He's a passionate investor in and supporter of renewable energy.

Buffett has invested $15 billion in renewable energy sources like solar and wind power and recently announced plans to invest another $15 billion.

13. Buffett earned 99% of his current total wealth after his 50th birthday.

Despite his early business success, Buffett amassed the majority of his wealth later in life. He earned 70.4% of his $71 billion after turning 50, thanks to his long-term investment strategies.

14. He has the best track record for investment in the S&P 500.

Buffett has outperformed the market more than any other investor, according to the S&P 500. This achievement has earned him the title "The Oracle of Omaha."

15. In 2013, he earned around $37 million every single day.

According to Forbes, Buffett made an astonishing $37 million daily, more than his best friend Bill Gates, likely adding some tension to their bridge games. By comparison, Jennifer Lawrence, the second-highest-paid actress in the world, earned $34 million that year.

Like many entrepreneurs, there are countless stories about Warren Buffett and his investment secrets. Does his frugality help him? Is he a born investor and a prodigy? We'll never know for sure, but we'll continue to watch his stats rise in admiration. If you could have 10 minutes with Warren Buffett, what would you ask him? How would you discover his investment secrets?

Oh, you're still here? Here's another amazing fact about Warren Buffett for you: when he bought Berkshire Hathaway in 1964, he did it out of anger at the CEO and wanted to fire him. In hindsight, he called the purchase the dumbest stock he ever bought.

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