The Parable of Warren Buffett & Bill Gates
Warren Buffett, nicknamed the Oracle of Omaha, is known as the world’s greatest investor. In 1950, at age 20, he had saved $9,400 (about $100k in today’s money). He set out to invest it, applying his long-term, value-based, focussed portfolio philosophy, which his author Robert Hagstrom termed “The Warren Buffett Way.” Buffett increased his net worth to $62 billion, making him the richest person in the world. Nipping at his heels for that enviable title was the young Microsoft mogul, Bill Gates. The two richest men in the world were friends, with a friendly rivalry about their wealth. They were not competing to see who could have the most money. Instead, paradoxically, their rivalry was a race to give away money to worthy causes. Together the Buffett Foundation and the Bill & Melinda Gates Foundation were donating hundreds of millions and billions of dollars to a long list of charities, including the global eradication of polio, child vaccination efforts, HIV research, and neglect