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Time of India
16-05-2025
- Business
- Time of India
98% of Warren Buffett's wealth came after he turned 65; here's the secret of the Oracle of Omaha
At 94 years of age, billionaire investor Warren Buffett is living proof of the power of patience, discipline, and compounding returns. The data provided by Peter Mallouk, president and CEO of Creative Planning, showed that almost 98% of Buffett's current was accumulated after the age of 65, as per a report. Warren Buffett's Wealth Built Through Time Mallouk revealed that the Oracle of Omaha 's net worth stood at just $3 billion nearly 34 years ago when he was 65 years old, according to Benzinga. Buffett's wealth has compounded by about 5,233% from that time to $160 billion as of May 14, as per the report. Now, the investor's net worth is $160 billion, as per Bloomberg's Billionaire Index. This reflects that the investor earned 98% of his wealth after 65 years of age, as per Benzinga. GIF89a����!�,D; Continue to video 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Nagelpilz? Dieses Gerät war mal teuer – jetzt fast geschenkt PODOclear Undo ALSO READ: Want to attend concerts for just $30? Here's how to grab Live Nation's summer deal! Magic of Compound Interest While revealing this data, Mallouk also quoted Buffett, who emphasized that the growth in his wealth was possible through the power of compounding, reported Benzinga. Live Events Buffett has previously shared that, 'My life has been a product of compound interest ,' as quoted in the report. He has invested through Berkshire Hathaway and has placed significant bets in Apple, American Express, Bank of America, and Coca-Cola, according to Benzinga. ALSO READ: $300 million bet? TikTok-connected startup with zero revenue and China links eyes massive stake in Donald Trump's memecoin Leadership Transition at Berkshire Hathaway In the latest shareholders' meeting of the company, Buffett announced that he would be stepping down as the CEO of Berkshire Hathaway. He also named the present vice chairman Greg Abel to become the CEO starting January 1, 2026, according to reports. FAQs How much of Buffett's wealth came after age 65? Nearly 98% of Buffett's wealth was accumulated after he turned 65. What investment strategy did Buffett use to grow his wealth? Buffett relied on the power of compound interest to grow his wealth, as per Benzinga.
Yahoo
15-05-2025
- Business
- Yahoo
Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of 'Compound Interest'
According to the recent data shared by Creative Planning, Inc., the 'Oracle of Omaha,' Warren Buffett earned 98% of his current net worth after turning 65 years old. What Happened: The 94-year-old veteran investor Buffett has a net worth of $160 billion according to Bloomberg's Billionaire Index. Peter Mallouk, the president and CEO of Creative Planning, shared data showcasing that the ace investor's net worth stood at $3 billion nearly 34 years ago, when he was just 65. His wealth has compounded by nearly 5,233% since then to $160 billion as of May 14. This shows that he earned 98% of his wealth after the age of 65. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Mallouk also quoted Buffett, highlighting that the growth in his wealth was possible through the power of compounding. 'My life has been a product of compound interest,' Buffett once said. Why It Matters: Buffett holds his investments via the holding company, Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK), which is headquartered in Omaha, Nebraska. Known to be one of the best portfolio managers of all time, Buffett, via Berkshire, holds major investments in Apple Inc. (NASDAQ:AAPL), American Express Co. (NYSE:AXP), Bank of America Corp. (NYSE:BAC), and Coca-Cola Co. (NYSE:KO). BRK has returned 13.47% this year so far, while SPY is up 0.13%. This, as Berkshire is sitting on a cashpile worth $348 billion as of the first quarter of 2025. Read Next: Hasbro, MGM, and Skechers trust this AI marketing firm — Invest before it's too late. Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Many are rushing to grab 4,000 of its pre-IPO shares for just $0.30/share! Image Via Shutterstock Send To MSN: Send to MSN UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of 'Compound Interest' originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Entertainment
- Yahoo
Mark Zuckerberg Once Set Up A Facebook Account For Brooklyn Nine-Nine Star Andy Samberg, Then Personally Played Tech Support When Things Went A Bit Haywire
In a 2014 appearance on The Tonight Show Starring Jimmy Fallon, comedian Andy Samberg revealed that Mark Zuckerberg not only persuaded him to join Facebook, now a subsidiary of Meta Platforms, Inc. (NASDAQ:META), but also personally set up his account and remained his only friend on the platform. What Happened: Samberg recalled the unusual story when Fallon asked if he was on Facebook. "Well, do we have time for a funny story?" he replied. "I am actually on Facebook, but I only have one friend. It's a private account and I have one friend." When Fallon asked who it was, Samberg answered, "Mark Zuckerberg." Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Samberg said the two had become friendly after Zuckerberg appeared on Saturday Night Live and later invited Samberg to visit Facebook's offices. During their visit, Zuckerberg was shocked to learn Samberg didn't use Facebook. "I said, 'If you set up my account and you're my only friend, so I can tell this on a talk show...' and he agreed," Samberg said. But things didn't go exactly as planned. The "Brooklyn Nine-Nine" actor began receiving emails and friend requests from Zuckerberg's contacts. "I texted him and was like, 'Hey man, I hate to do this to you, head of Facebook, but I think I need some tech support here.'" Zuckerberg responded like any good friend would. "He was so cool about it. He was like, 'Go into your settings ...'" Samberg said. "Of course, it totally worked." Why It's Important: This story resurfaced just as Zuckerberg is about to celebrate his 41st birthday this week — a milestone for the tech mogul who turned a dorm-room project into a $1.6 trillion empire. Over the years, Zuckerberg has faced enormous challenges: government investigations, public distrust over privacy and misinformation, and a risky pivot to the metaverse that drew skepticism across Wall Street. He's also been criticized for being robotic or emotionally detached — something he's acknowledged publicly. The Meta CEO currently has a net worth of $226 billion, making him the third wealthiest person after Elon Musk and Jeff Bezos in Bloomberg's Billionaire Index. Read Next: Hasbro, MGM, and Skechers trust this AI marketing firm — Invest before it's too late. 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share with a $1000 minimum. Photo Courtesy: Frederic Legrand – COMEO on Send To MSN: Send to MSN Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Mark Zuckerberg Once Set Up A Facebook Account For Brooklyn Nine-Nine Star Andy Samberg, Then Personally Played Tech Support When Things Went A Bit Haywire originally appeared on Sign in to access your portfolio
IOL News
14-05-2025
- Business
- IOL News
Warren Buffett: The man behind the billions
Warren Buffett according to Bloomberg's Billionaire Index is the seventh richest person in the world with a fortune of $160 billion Image: Facebook As 94-year-old Warren Buffett prepares to step down as both CEO and Chairman of conglomerate Berkshire Hathaway, he is passing the operational reins on to a man in his shadows, Greg Abel, Berkshire's Vice Chairman of non-insurance operations. From next year, Abel will run the company while Buffett will remain the Chairman of the Board of Directors. Buffett, according to Bloomberg's Billionaire Index is the seventh richest person in the world with a fortune of $160 billion – or around R2 929 billion at Tuesday's exchange rate of R18.31. So far this year, his fortune has increased by just more than a $bn, or R18.3bn. As a random fact, Bloomberg lists that Buffet deducted $23 million on his 2010 tax returns (R421 million). Not only is he CEO and Chairman of Berkshire Hathaway, but also its single largest shareholder with a 30% stake. Berkshire, which has delivered a 19.8% compounded annual gain in market value since 1965, owns brands such as Dairy Queen and stakes in Coca-Cola and American Express. Buffett's five rules for financial success are: investing for the long term, keeping informed, holding a competitive advantage, concentrating on quality, and managing risk. Seen as one of the world's most successful investors, Buffett spent six decades building Berkshire into one of the world's biggest companies according to a piece on stock market Nasdaq's website. 'Just four winning stocks make up 57% of Berkshire Hathaway's $277bn stock portfolio,' it said. These shares include stakes in Apple ($59.5bn), American Express ($43.1bn), Bank of America ($28.4bn) and Coca-Cola ($28.2bn) But, who is the man behind the money? Buffett is also a philanthropist, supporting charities such as the Stephen Center, which has a safe and sober shelter for men, women, and families on a first-come, first-served basis. It also provides what is essentially a rehab for addicts, and permanent supportive shelter. Known as the 'Oracle of Omaha,' he studied the University of Nebraska-Lincoln, University of Pennsylvania and Columbia University. Yet, he isn't keen on hiring people who have fancy degrees. According to Wikipedia, a native of Nebraska, Buffett's father had a term in the United States Congress. His entrepreneurial spirit started at the age of seven and earned an income delivering newspapers, selling golf balls and stamps, and detailing cars, among others. When Buffett was in high school, he and a friend bought a used pinball machine, which they placed in the local barber shop. 'Within months, they owned several machines in three different barber shops across Omaha. They later sold the business to a war veteran for $1,200,' noted Wikipedia after stating that he bought the machine for $25. In 1949, Buffett decided to start learning the ukulele to woe a woman away from a man who did play one and has played the instrument since then. Apparently, he often plays the instrument at stockholder meetings. He didn't win the girl but was married to Susan in 1952 and they had three children. Although the couple separated, they were technically married until Susan's death in 2004. Buffett subsequently married Astrid Menks when he was 76 and she was 60. Buffett plays bridge with long-time friend Bill Gates. A bit of an old timer who has sent one email ever, he reads five newspapers each day (one of which his company owns) and is apparently known for his sense of humour. The Chairman and CEO has long said he aims to give away his fortune to charity instead of bequeathing it all to his children. IOL
Yahoo
08-05-2025
- Business
- Yahoo
Billionaire Ken Griffin reveals the ‘wake-up moment' in his 20s that helped drive him to success
Billionaire hedge fund manager is worth a staggering $42 billion—and he says his success is largely thanks to learning to take risks early in his career. 'When you're in your 20s, what's your worst-case scenario?' the Citadel CEO advises Gen Z students. Confidence and conviction don't come easy—especially when you're just getting started in your career. It's often sparked by a promotion or a winning pitch. For Citadel CEO Ken Griffin, it all started with the message on a plaque in the office of an early financial backer. The billionaire recently recalled the 'wake-up moment" in his 20s that set the tone for his career. 'Of all the things that this man could have around him, he's got this cheesy $10 plaque that says, 'If we're all going to eat, someone has to sell,'' Griffin said to students at Stanford University's Graduate School of Business last week. 'And it speaks to the importance of what it takes to build a business. You're always selling.' With selling—whether it be to candidates, customers, or vendors—rejections are inevitable, he added. But the sooner Gen Z entrepreneurs gain the confidence to take risks in their careers, the better. The consequences of going out on a limb are slimmer without kids or a mortgage to worry about, he said. 'When you're in your 20s, what's your worst-case scenario? It's not that bad. If you're in your 40s and you go to start a venture, there's more downside,' Griffin said. 'I really deduced that in my 20s, I would take risk in my career. Why not? I have nothing to lose.' For Griffin, three decades worth of taking investment risks largely paid off—as the 56-year-old is now worth nearly $42 billion, according to Bloomberg's Billionaire Index. Fortune reached out to Griffin for comment. As a hedge fund manager, Griffin is constantly at the forefront of trying to figure out the next great investment opportunity—and that includes investing in people and their skills. In terms of hiring, Griffin told students at his high school alma mater the top skills he values are intellect, aptitude, and communication. And he can instantly tell whether or not someone will go on to become successful based on how adaptable to change they are. 'The entrepreneurs of any moment in time are the people that have the skill set that is relevant to solve the problems of that moment in time,' Griffin said. 'And I think that's a very succinct understanding of what drives many of your great entrepreneurial success stories.' For new entrepreneurs, he said it's important to not spend all your time focused on what goes wrong; instead spend it figuring out what can go right and what it's going to take to win. 'You just don't want to go on the frontal assault. You're going to lose,' Griffin said. 'But how do you get under the radar of your competition? How do you solve a problem with a customer that they're not paying attention to? You need to think outside of the box in building a startup.' Citadel is one of the most successful hedge funds in history, having raked $74 billion in net profits between 1990 and 2023. However, despite Griffin's massive personal fortune gained from the company's success, the key to Citadel's success has been maintaining a team-first mentality, he said—something that's especially critical during times of economic uncertainty. 'The key is that Citadel is a team sport. I am so fortunate to have extraordinarily strong partners that help to create resilience because everyone has a down day, a down week, a down month,' he said to the Stanford students. "Having really good partners who have really good judgement help, too; it's a huge force in moments of dislocation.' Surrounding oneself with the right people is a mantra shared by billionaires alike. For example, Warren Buffett is famously known for his close relationship with the late Charlie Munger, and billionaire David Rubenstein recently went out of his way to clarify that attitude goes a long way in business. 'Hire people who are hopefully smarter than you, reasonably hard-working, people who are interested in what you're doing with your company,' Rubenstein said. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
