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Warren Buffett's mantra to mint money!

March 10, 2008

A frugal billionaire

He bought his first share at age 11.

He bought a small farm at age 14 with savings from delivering newspapers.

He does not have a cellphone, has no computer on his desk, drives his own car and does not have security guard with him.

He is the world's richest man, the living legend, Warren Buffett!

One of the most successful investors the world has ever seen, Warren Buffett is today the richest man on the planet, according to Forbes magazine's annual list of billionaires.

Chairman of the Berkshire Hathaway, Buffett's wealth jumped by $10 billion jump to hit $62 billion during 2007. Buffett has beat friend -- and Microsoft boss -- Bill Gates' 13-year reign as the richest man. Buffett's journey to become the world's richest is truly inspirational.

A staunch follower of value investing, he started with an initial fund of $105,000 in 1956, the rest is history. Over the next five decades, Buffett's wealth rose to $62 billion.

But he is not the one to flaunt his riches, simple and down-to earth, Buffett continues to live in the same house in Omaha that he bought in 1958 for $31,500. He says that he has everything he needs in that house. His house does not have a wall or a fence.

Know more about the making of 'Warren Buffett' and his mantra for minting money.

Image: Warren Buffett, chairman and CEO of Berkshire Hathaway, testifies before the Senate Finance Committee during a hearing on the Federal Estate Tax on Capitol Hill in Washington, DC.

Photograph: Saul Loeb/AFP/Getty Images

Also see: Words of wisdom from Rakesh Jhunjhunwala


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