Investment entrepreneur and executive. Born August 30, 1930 in Omaha, Nebraska. A stockbroker's son, Buffett studied at the University of Nebraska and Columbia University, and formed his own firm, Buffett Partnership, in his hometown in 1956. His investment successes, particularly in buying undervalued companies whose stocks shortly began to rise, made him extremely rich and gained him the sobriquet, "Oracle of Omaha." Other notable career succeses include helping rescue Salomon Brothers from corporate raiders (1987) and taking charge of the New York City house (1992) in the wake of an insider trading scandal.
The majority of Buffett's considerable fortune was amassed through Berkshire Hathaway, a company for which he is the largest shareholder and CEO. Ranked as Forbes second-wealthiest man, his net worth is estimated at $42 billion. In June 2006, Buffett made an announcement that he would be giving his entire fortune away to charity, committing 85 percent of it to the Bill and Melinda Gates Foundation. This donation became the largest act of charitable giving in United States history.