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.
More in Lifestyle
This Gas Station Chain is Making Money Through Unique Ways and Here’s What Entrepreneurs Can Learn from It
There are plenty of business advice to be found both online articles and published books. But there’s nothing quite like seeing...February 8, 2023
Did You Know That You Might Have Contracted the Novel Coronavirus and Recovered Without Even Realizing It?
Continuous researches and studies by experts state that people had started getting infected by coronavirus before the lockdown even started. If...February 5, 2023
How to Ensure the Right Balance of Iodine in Your Diet- Understanding the Importance of Iodine in the Human Body
Iodine is an essential micronutrient that is required by our thyroid glands to produce hormones, triiodothyronine (T3), and thyroxine (T4). These hormones...February 5, 2023
Billionaire Mark Cuban Has Learned More from His Failures Than Success, Proving It’s Okay to Make Mistakes
Shark Tank fans must know Mark Cuban as the casually-dressed billionaire who gained his massive fortune and financial success from wise...January 29, 2023
Wow-Worthy Benefits of Peaches That’ll Make You Fill Your Fridge With Them
Counted among the most beautiful looking fruits in the world, peaches are known for their tongue-tickling taste and refreshing smell. But...January 11, 2023
Stone Fruit Seeds – Are They Really Poisonous?
Picture this – it’s Sunday evening and you have a delicious smoothie in front of you. You’re relishing the taste of...January 1, 2023
These Instagram-Worthy Spots Prove That ‘Dreary’ London Can Be Totally Vibrant
Keeping an aesthetically-pleasing Instagram page is a hobby for many people, influencer or not. What others don’t know though is the...December 20, 2022
Ellen DeGeneres’ Fortune Explained: From Growing up Poor to Flipping Houses for Fun
Believe it or not, Ellen DeGeneres, one of the richest self-made women, grew up in a poor family in Louisiana who...November 4, 2022
Steven Spielberg is the Richest Director in Hollywood, But Not Due to Films We Know Of
Because stars appear on the big screen, we tend to think that they are the only ones who make good money...October 7, 2022