The Warren Buffet Success Story
Post 1 of 8
Warren Buffet is famous for being the world’s 3rd Richest Person, but most recently made the headlines for deciding to donate the majority of his wealth to the Bill and Melinda Gates Foundation. Will this socially responsible decision signal the start of a new era, where the super-rich begin to use their fortunes towards making the world a better place? Should there be more pressure on other billionaires to do the same, or do you think people who have worked hard all their life, spend their money however they want?
Warren Buffet’s incredible began his career as an entrepreneur at an early age. He started working at his father's brokerage aged 11; the same year he bought some Cities Services shares at US$38.25 per share, his first of many stock market investments. He sold the Cities Services shares when the price hit US$40, then saw the price rise to $200 a few years later!This had a long-lasting effect on his investment outlook - invest in good companies for the long term!
At 14, he and a fellow high school student started a pinball machine installation company, eventually selling his stake for $1,200 and used the money to buy 40 acres of farmland which he rented to farmers.
He graduated near the top 20 in his class at the age of 16 and despite having already proved to himself his future potential as an entrepreneur, he reluctantly followed his father's advice and decided to attend the University of Pennsylvania and then the University of Nebraska.
With a small amount of his own money, and investment from family and friends, he started what became Buffett Partnership Limited, which gradually grew into a multi-billion dollar company, the significant turning point being the purchase of Berkshire Hathaway, a large manufacturing company in the declining textile industry that was selling for less than its working capital. Some analysts criticised the move, though Berkshire became one of the largest holding companies in the world: the rest is history!
Unlike many billionaires, Buffet lives a relatively humble lifestyle, continuing to live in the same house in Nebraska which he bough in 1958 for $31,500. What Warren Buffett will be remembered for, for many years to come, is his decision to donate his wealth to charity, with 83% of it going to the Bill and Melinda Gates Foundation. The donation amounts to approximately US$30 billion, the largest charitable donation in history.
What would you do in his situation? Donate your wealth away, or keep it in the family?
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26 Aug 2007 18:35
Post 2 of 8
Replying to [Admin]:
I'd donate a third to local charitable foundations, a third to international charitable foundations, and a third retained for immediate families, with a couple of millions to blow away on holiday around the world..![[em10]](http://img.alibaba.com/images/eng/style/icon/emoticons_silly.gif)
I'd donate a third to local charitable foundations, a third to international charitable foundations, and a third retained for immediate families, with a couple of millions to blow away on holiday around the world..
27 Aug 2007 01:56
Post 3 of 8
Replying to [Admin]:
I personally believe it is the moral responsibility of all persons to give back to society. One of my many personal heroes are those volunteer workers for a Philippine NGO's feeding and literacy program for toddlers. These volunteers are usually mothers, balancing between their their own families and a job to help family finances. More often than not, these volunteers belong to the lower demographic cl *.
Most of us think we will give to charity when we win the lotto or hit some jackpot. These volunteers show that you do not need tons of money to help your fellow humans. All it takes is the resolve to help and the time to spare.
That charity begins at home is also an adage I believe in-- you need not look too far as maybe in your own family there maybe some people who can make use of a little help.![[em1]](http://img.alibaba.com/images/eng/style/icon/emoticons_smile.gif)
I personally believe it is the moral responsibility of all persons to give back to society. One of my many personal heroes are those volunteer workers for a Philippine NGO's feeding and literacy program for toddlers. These volunteers are usually mothers, balancing between their their own families and a job to help family finances. More often than not, these volunteers belong to the lower demographic cl *.
Most of us think we will give to charity when we win the lotto or hit some jackpot. These volunteers show that you do not need tons of money to help your fellow humans. All it takes is the resolve to help and the time to spare.
That charity begins at home is also an adage I believe in-- you need not look too far as maybe in your own family there maybe some people who can make use of a little help.
27 Aug 2007 23:27
Post 4 of 8
Replying to [moppet]:
I came across a certain program before, I think it was through UN or some other charitable organisations. Anyway it's about "adopting" a child and sending money regularly so that we may help these poor kids to attend school for instance, and the organisation or perhaps the kid will communicate with us regularly so that we can "watch" him/her grow up.
In my case I decided to locate these poor family myself in another country known for its millions of poor people, and just "adopted" them without any formalities. Cost of living is not that high, so it's actually quite possible to help feed such family for almost a year with just one cash donation. It makes one feel good, if one can afford it.
Yes you're right, you don't have to be a Warren Buffet to help other less fortunate fellow human beings.
I came across a certain program before, I think it was through UN or some other charitable organisations. Anyway it's about "adopting" a child and sending money regularly so that we may help these poor kids to attend school for instance, and the organisation or perhaps the kid will communicate with us regularly so that we can "watch" him/her grow up.
In my case I decided to locate these poor family myself in another country known for its millions of poor people, and just "adopted" them without any formalities. Cost of living is not that high, so it's actually quite possible to help feed such family for almost a year with just one cash donation. It makes one feel good, if one can afford it.
Yes you're right, you don't have to be a Warren Buffet to help other less fortunate fellow human beings.
28 Aug 2007 08:35
Post 5 of 8
Replying to [smarco]:
Kudos to you, smarco!
I myself set aside monthly a portion of my income for 2 charities that are close to my heart, one involving work with disadvantaged children and the other one helping blind people and children learn skills that will help them become more adapted to society.
Aside from this, we make a yearly contribution to send 2 blind children to school. To make the funds available for this yearly contribution, we forego holding a party for our son in favor of a small family celebration. It's a small contribution to make, but if all of us make this our obligation, imagine what we can achieve.![[em19]](http://img.alibaba.com/images/eng/style/icon/emoticons_great.gif)
Kudos to you, smarco!
I myself set aside monthly a portion of my income for 2 charities that are close to my heart, one involving work with disadvantaged children and the other one helping blind people and children learn skills that will help them become more adapted to society.
Aside from this, we make a yearly contribution to send 2 blind children to school. To make the funds available for this yearly contribution, we forego holding a party for our son in favor of a small family celebration. It's a small contribution to make, but if all of us make this our obligation, imagine what we can achieve.
29 Aug 2007 03:12
Post 6 of 8
Replying to [moppet]:You are a great woman. Wish good man with a good luck. If we are not rich, we can be a volunteer to donate our time and love.![[em14]](http://img.alibaba.com/images/eng/style/icon/emoticons_embrace.gif)
09 Oct 2007 17:25
Post 7 of 8
Quoting from [Admin]:Warren Buffet is famous for being the world’s 3rd Richest Person, but most recently made the headlines for deciding to donate the majority of his wealth to the Bill and Melinda Gates Foundation. Will this socially responsible decision signal the start of a new era, where the super-rich begin to use their fortunes towards making the world a better place? Should there be more pressure on other billionaires to do the same, or do you think people who have worked hard all their life, spend their money however they want?Warren Buffet’s incredible began his career as an entrepreneur at an early age. He started working at his father's brokerage aged 11; the same year he bought some Cities Services shares at US$38.25 per share, his first of many stock market investments. He sold the Cities Services shares when the price hit US$40, then saw the price rise to $200 a few years later!This had a long-lasting effect on his investment outlook - invest in good companies for the long term!At 14, he and a fellow high school student started a pinball machine installation company, eventually selling his stake for $1,200 and used the money to buy 40 acres of farmland which he rented to farmers.
He graduated near the top 20 in his class at the age of 16 and despite having already proved to himself his future potential as an entrepreneur, he reluctantly followed his father's advice and decided to attend the University of Pennsylvania and then the University of Nebraska.
With a small amount of his own money, and investment from family and friends, he started what became Buffett Partnership Limited, which gradually grew into a multi-billion dollar company, the significant turning point being the purchase of Berkshire Hathaway, a large manufacturing company in the declining textile industry that was selling for less than its working capital. Some analysts criticised the move, though Berkshire became one of the largest holding companies in the world: the rest is history!Unlike many billionaires, Buffet lives a relatively humble lifestyle, continuing to live in the same house in Nebraska which he bough in 1958 for $31,500. What Warren Buffett will be remembered for, for many years to come, is his decision to donate his wealth to charity, with 83% of it going to the Bill and Melinda Gates Foundation. The donation amounts to approximately US$30 billion, the largest charitable donation in history.What would you do in his situation? Donate your wealth away, or keep it in the family?
Of Course I Believed its each of our Responsibility to help others as we are Bless in
life..,much of our success is with the help of others..,no one becomes a success on their on ,its always with the help of others so yes we should give back to help someone else!
and of course we should help members of Family..,alsoThanks
29 Dec 2008 19:04
Post 8 of 8
Quoting from [moppet]:
Dear Carol,
Nice story about Warren Buffet and Moppet sharing of NGO giving their time and resources to help as volunteers to teach children of the under-privileged.
There are these people, who gave their millions out of their billions to set up a foundation for the poor, and the media gave them the publicity, every one who can read or tune in to the world news knows about it.
However how much W.B. gives he cannot wipe out poverty in one place alone, there will still be poor people, and families living below the average national household income. To give money to the needy is like giving them a fish for the day, or for the week, but they will go hungry again. Then we have to teach them how to fish, instead of giving them a fish. Moppet wrote about providing them with education, which is the vicious cycle of poverty, the poor gets poorer because they cannot afford to send their children to school, and the children work to help support the family.
Jesus Christ taught his disciples about the attitude of giving. He said about a widow who put in two cents into the temple coffer, gave more than all those rich people, who gave with much fanfare and publicity. They had their rewards, and someone else got the glory. The moral of the story is to give in secret, humbly and in the right spirit, with a cheerful heart, not complaining and comparing or even competing. The widow gave all she had, her meals of the day is in her two cents coins, whereas the rich gave only a pinch of what they have. A pastor in a Baptist church preached the art and attitude of giving. "It is not how much you give, " he said, "It is how much you have not give." ...... and kept for yourself.
The story of Lazarus and the rich man who both died, and Lazarus goes to heaven, the rich man went to Hell. That jumps the thinking and wrong conclusion that money is evil, and that all rich people go to Hell.
No, that is not the case, as the rich man had seen Lazarus at his gates with wounds and sores the dogs lick, hungry and sick, but the rich man kept his eyes closed and was indifferent to Lazarus' plight.
Every one who has compassion, a human being with his/her needy neighbour will give to show our humanity. We give a tithe to the church, which is minimum of 10% of our gross earnings, and an offering that is above the 10%. In most churches or religious groups here, and above all, the giving to victims of calamities, the compassion towards the needs of the people around us are always in our hearts. The Boxing Day Tsunami tragedy which left hundreds of thousands of people homeless, orphaned and wounded and psychologically traumatized, we, the people of this region gave, gave and gave without stopping.
Billions of dollars poured into Sri Lanka, India, South Thailand and West Indonesia. Teams of medical personnel and trauma-management people went to help, even until today, they are still rebuilding their towns, hospitals, schools and jetties and boats for the Acheh fisherman in Acheh, Nias, South West Java, Philippines, Sri lanka, Thailand and India. In giving, we find happiness, we find our own help by helping others.
Street
Nice story about Warren Buffet and Moppet sharing of NGO giving their time and resources to help as volunteers to teach children of the under-privileged.
There are these people, who gave their millions out of their billions to set up a foundation for the poor, and the media gave them the publicity, every one who can read or tune in to the world news knows about it.
However how much W.B. gives he cannot wipe out poverty in one place alone, there will still be poor people, and families living below the average national household income. To give money to the needy is like giving them a fish for the day, or for the week, but they will go hungry again. Then we have to teach them how to fish, instead of giving them a fish. Moppet wrote about providing them with education, which is the vicious cycle of poverty, the poor gets poorer because they cannot afford to send their children to school, and the children work to help support the family.
Jesus Christ taught his disciples about the attitude of giving. He said about a widow who put in two cents into the temple coffer, gave more than all those rich people, who gave with much fanfare and publicity. They had their rewards, and someone else got the glory. The moral of the story is to give in secret, humbly and in the right spirit, with a cheerful heart, not complaining and comparing or even competing. The widow gave all she had, her meals of the day is in her two cents coins, whereas the rich gave only a pinch of what they have. A pastor in a Baptist church preached the art and attitude of giving. "It is not how much you give, " he said, "It is how much you have not give." ...... and kept for yourself.
The story of Lazarus and the rich man who both died, and Lazarus goes to heaven, the rich man went to Hell. That jumps the thinking and wrong conclusion that money is evil, and that all rich people go to Hell.
No, that is not the case, as the rich man had seen Lazarus at his gates with wounds and sores the dogs lick, hungry and sick, but the rich man kept his eyes closed and was indifferent to Lazarus' plight.
Every one who has compassion, a human being with his/her needy neighbour will give to show our humanity. We give a tithe to the church, which is minimum of 10% of our gross earnings, and an offering that is above the 10%. In most churches or religious groups here, and above all, the giving to victims of calamities, the compassion towards the needs of the people around us are always in our hearts. The Boxing Day Tsunami tragedy which left hundreds of thousands of people homeless, orphaned and wounded and psychologically traumatized, we, the people of this region gave, gave and gave without stopping.
Billions of dollars poured into Sri Lanka, India, South Thailand and West Indonesia. Teams of medical personnel and trauma-management people went to help, even until today, they are still rebuilding their towns, hospitals, schools and jetties and boats for the Acheh fisherman in Acheh, Nias, South West Java, Philippines, Sri lanka, Thailand and India. In giving, we find happiness, we find our own help by helping others.
Street
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