Warren Buffett Is Richer Than Ever Despite Giving Away Billions Thanks to This One Habit
It’s interesting to note that the world’s wealthiest has seen massive gains in their net worths just within the past decade. In 2010, the 10 wealthiest people in the world clocked in a combined wealth of about $269.8 billion.
Compare that to the total $722 billion that the current names on the same list now have. Investing whiz Warren Buffett can count himself among the wealthy who’s only managed to get wealthier as the years and decades past. This, despite him giving a considerable part of his fortune away.
The Berkshire Hathaway CEO first gained his billionaire status 30 years ago. At the time, he boasted of a $3.3 billion net worth and enjoyed the distinction of being America’s second wealthiest person. He was 60 years old.
Although it was a pretty good year for Buffett, that was far from being his peak. Come 1996, Buffett’s fortune reached $16.5 billion and would only double in the next six years.
Fast forward to today and the 89-year-old billionaire’s wealth has only multiplied to reach a whopping $85.2 billion, according to data from Forbes. He currently holds the fourth spot among the world’s richest.
Giving It Away
Aside from being among the wealthiest, Buffett has also made a reputation for being one of the most generous billionaires. As a member of the Giving Pledge, he’s reportedly given away more money to charitable causes than he was worth in back 1990.
Just last year, he’s pledged to donate $3.6 billion worth of Berkshire Hathaway stocks to five charities including that of his friend and fellow billionaire Bill Gates’ foundation.
The rest of the beneficiaries are a foundation named after his late wife and charities run by his three children. Buffett’s ultimate goal is to give away around 85% of his wealth over time.
This long-term success certainly proves that Buffett definitely earned his title as the ‘Oracle of Omaha’ having sharpened his investing techniques from a young age. Part of it can also be attributed to a quality that sets him apart from his fellow billionaires: frugality.
Not only does he live in a relatively modest home, he also reportedly chooses to drive an equally modest car. He’s also made it known that he has no desire of owning many houses nor cars.
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