An American
investor and businessman. In 1962, Buffett began buying
shares in
Berkshire Hathaway, eventually taking a controlling stake in the company. He expanded Berkshire Hathaway's business into
insurance and used the proceeds to
finance other investments. These investments turned Buffett into a billionaire in 1990. In 2008, he was the richest man in the world, but dropped to second place in 2009.
Nicknamed the "Oracle of Omaha," Buffett is a major proponent of
value investing, which holds that it is better to invest in companies based on their
intrinsic values rather than their
technical information. This philosophy generally has been highly profitable for Buffett. Between 2000 and 2010, under Buffett's guidance, Berkshire Hathaway returned 76% to
shareholders.