A Model For His Billionaire Peers – Warren Buffett
John M. Longo, Rutgers University - Newark
Warren Buffett, who turns 91 on Aug. 30, 2021, is a billionaire at a time when outrage over the excesses of extreme wealth is growing in tandem with billionaires’ fortunes.
But based on what I learned about him while becoming a scholar of finance and a portfolio manager, I see Buffett as a model for his ultrarich peers.
He has given half of his vast fortune to charity and plans to unload the most of the rest during his lifetime or upon his death. Buffett also largely lives a modest lifestyle by billionaire standards; he still resides in the spacious house he bought six decades ago.
“My needs are simple,” he explained in June 2021. “What made me happy at 40 makes me happy at 90.”
Nose for business
The investor was born in 1930 as the Great D...