ENTREPRENE

URS

THE 5 MOST SUCCESSFUL

ENTREPRENEURS IN ALL OVER THE WORLD

 Dewayne dumlao
submitted
to Mrs. regala

CONTENTS
i. BILq L
GATES........
............
2
ii. JEFF
BEZOS........
 ...........
9
iii. MARK
ZUCKERBERG...
... 15
iv. WARREN
BUFFET.......
.... 21
v. CARLOS SLIM
HELU.......
30
 1

BILL
GATES
 2

BILL GATES
William Henry Gates III (born
October 28, 1955) is an American
business magnate, investor,
author, philanthropist, and
humanitarian. He is best known as
the principal founder of Microsoft
Corporation. During his career at
Microsoft, Gates held the
positions of chairman, CEO and
chief software architect, while
also being the largest individual
shareholder until May 2014.

In 1975, Gates and Paul Allen launched Microsoft, which became

the world's largest PC software company. Gates led the company
as chairman and CEO until stepping down as CEO in January
2000, but he remained chairman and became chief software
architect. In June 2006, Gates announced that he would be
transitioning to a part-time role at Microsoft and full-time
work at the Bill & Melinda Gates Foundation, the private
charitable foundation that he and his wife, Melinda Gates,
established in 2000. He gradually transferred his duties to
Ray Ozzie and Craig Mundie. He stepped down as chairman of
Microsoft in February 2014 and assumed a new post as
technology adviser to support the newly appointed CEO Satya
Nadella.

Gates is one of the best-known entrepreneurs of the personal

computer revolution. He has been criticized for his business
tactics, which have been considered anti-competitive. This
opinion has been upheld by numerous court rulings.

Since 1987, Gates has been included in the Forbes list of the
world's wealthiest people, an index of the wealthiest
documented individuals, excluding and ranking against those
with wealth that is not able to be completely ascertained.
From 1995 to 2017, he held the Forbes title of the richest
person in the world all but four of those years, and held it
consistently from March 2014 to July 2017, with an estimated
net worth of US$89.9 billion as of October 2017. However, on
July 27, 2017, and since October 27, 2017, he has been
surpassed by Amazon founder and CEO Jeff Bezos, who had an
estimated net worth of US$90.6 billion at the time. As of
August 6, 2018, Gates had a net worth of $95.4 billion, making
him the second-richest person in the world, behind Bezos.

Later in his career and since leaving Microsoft, Gates pursued

a number of philanthropic endeavors. He donated large amounts
of money to various charitable organizations and scientific
research programs through the Bill & Melinda Gates
Foundation, reported to be the world's largest private
charity. In 2009, Gates and Warren Buffett founded The Giving
Pledge, whereby they and other billionaires pledge to give at
least half of their wealth to philanthropy. The foundation
works to save lives and improve global health, and is working
with Rotary International to eliminate polio.

3
EARLY LIFE
Gates was born in Seattle,
Washington, on October 28, 1955.
He is the son of William H. Gates
Sr. and Mary Maxwell Gates
(1929–1994). His ancestry
includes English, German, Irish,
and Scots-Irish. His father was
a prominent lawyer, and his
mother served on the board of
directors for First Interstate BancSystem and the United
Way. Gates' maternal grandfather was J. W. Maxwell, a
national bank president. Gates
has one older sister, Kristi
(Kristianne), and a younger
sister, Libby. He is the fourth of
his name in his family, but is
known as William Gates III or
"Trey" because his father had the
"II" suffix. The family lived in
the Sand Point area of Seattle in
a home that was damaged by a rare
tornado when Gates was seven years
old. Early on in his life, Gates
observed that his parents wanted him to pursue a law
career. When Gates was young, his family regularly
attended a church of the Congregational Christian
Churches, a Protestant Reformed denomination. Small for
his age, Gates was bullied as a child. He preferred to
stay in his room, where he would shout "I'm thinking"
when his mother asked what he was doing. The family
encouraged competition; one visitor reported that "it
didn't matter whether it was hearts or pickleball or
swimming to the dock ... there was always a reward for
winning and there was always a penalty for losing".

At 13, he enrolled in the Lakeside School, a private

preparatory school and wrote his first software program. When
Gates was in the eighth grade, the Mothers' Club at the school
used proceeds from Lakeside School's rummage sale to buy a
Teletype Model 33 ASR terminal and a block of computer time
on a General Electric (GE) computer for the school's students.
Gates took an interest in programming the GE system in BASIC,
and was excused from math classes to pursue his interest. He
wrote his first computer program on this machine: an
implementation of tic-tac-toe that allowed users to play
games against the computer. Gates was fascinated by the
machine and how it would always execute software code
perfectly. When he reflected back on that moment, he said,
"There was just something neat about the machine." After the
Mothers Club donation was exhausted, he and other students
sought time on systems including DEC PDP minicomputers. One
of these systems was a PDP-10 belonging to Computer Center
Corporation (CCC), which banned four Lakeside students –
Gates, Paul Allen, Ric Weiland, and Gates's best friend Kent
Evans for the summer after it caught them exploiting bugs in
the operating system to obtain free computer time.

4
The four students had formed the
Lakeside Programmers Club to
make money. At the end of the
ban, they offered to find bugs
in CCC's software in exchange
for extra computer time. Rather
than use the system remotely via
Teletype, Gates went to CCC's
offices and studied source code
for various programs that ran on
the system, including programs
in Fortran, Lisp, and machine
language. The arrangement with
CCC continued until 1970, when the company went out of
business. The following year, Information Sciences, Inc.
hired the four students to write a payroll program in
COBOL, providing them computer time and royalties. After
his administrators became aware of his programming
abilities, Gates wrote the school's student information
system software to schedule students in classes. He
modified the code so that he was placed in classes with
"a disproportionate number of interesting girls."He later
stated that "it was hard to tear myself away from a
machine at which I could so unambiguously demonstrate
success." At age 17, Gates formed a venture with Allen,
called Traf-O-Data, to make traffic counters based on the
Intel 8008 processor. In 1972, Bill Gates served as a
congressional page in the U.S. House of Representatives.

Gates was a National Merit Scholar

when he graduated from Lakeside
School in 1973. He scored 1590 out
of 1600 on the Scholastic Aptitude
Tests (SAT) and enrolled at Harvard
College in the autumn of 1973. He
chose a pre-law major but took
mathematics and graduate level
computer science courses. While at
Harvard, he met fellow student
Steve Ballmer. Gates left Harvard
after two years while Ballmer would stay and graduate
magna cum laude. Years later, Ballmer succeeded Gates as
Microsoft's CEO. He maintained that position from 2000
until his resignation from the company in 2014.

5
PERSONAL
LIFE
Bill Gates married Melinda French on
a golf course on the Hawaiian island
of Lanai on January 1, 1994. They
have three children. The family
resides in Xanadu 2.0, an earth-
sheltered mansion in the side of a
hill overlooking Lake Washington in
Medina, Washington. According to
2007 King County public records, the total assessed value of
the property land and house is US$125 million, and the annual
property taxes are US$991,000. The 66,000-square-foot (6,100
m2) estate has a 60-foot (18 m) swimming pool with an underwater
music system, as well as a 2,500-square-foot (230 m2) gym and a
1,000-square-foot (93 m2) dining room.

Gates purchased the Codex Leicester, a collection of scientific

writings by Leonardo da Vinci, for US$30.8 million at an auction
in 1994. Gates is an avid reader, and the ceiling of his large
home library is engraved with a quotation from The Great Gatsby.
He also enjoys playing bridge, tennis, and golf.

In 1999, his wealth briefly surpassed US$101 billion. Despite

his wealth and extensive business travel, Gates usually flew
coach in commercial aircraft until 1997, when he bought a
private jet. Since 2000, the nominal value of his Microsoft
holdings has declined due to a fall in Microsoft's stock price
after the dot-com bubble burst and the multibillion-dollar
donations he has made to his charitable foundations. In a May
2006 interview, Gates commented that he wished that he were not
the richest man in the world because he disliked the attention
it brought. In March 2010, Gates was the second wealthiest
person behind Carlos Slim, but regained the top position in
2013, according to the Bloomberg Billionaires List. Slim retook
the position again in June 2014 (but then lost the top position
back to Gates). Between 2009 and 2014, his wealth doubled from
US$40 billion to more than US$82 billion. Since October 2017,
Gates was surpassed by Amazon.com founder Jeff Bezos as the
richest person in the world.
 Gates has held the top spot on the list
of The World's Billionaires for 18 out
of the past 23 years. Gates has several
investments outside Microsoft, which in
2006 paid him a salary of US$616,667
and US$350,000 bonus totaling
US$966,667.In 1989, he founded Corbis,
a digital imaging company. In 2004, he
became a director of Berkshire
Hathaway, the investment company headed
by long-time friend Warren Buffett. In
2016, he was discussing his gaming
habits when he revealed that he was
color-blind.

In a BBC interview, Gates claimed, "I've paid more tax than any
individual ever, and gladly so ... I've paid over $6 billion in
taxes." He is a proponent of higher taxes, particularly for the
rich. Gates' days are planned for him on a minute-by-minute
basis, similar to the U.S. President's schedule.

RECOGNITION
In 1987, Gates was listed as a billionaire
in Forbes magazine's 400 Richest People in
America issue. He was worth $1.25 billion
and was the world's youngest self-made
billionaire. Since 1987, Gates has been
included in the Forbes The World's
Billionaires list and was the wealthiest
from 1995 to 1996, 1998 to 2007, 2009, and
has been since 2014. Gates was number one
on the Forbes 400 list from 1993 through to
2007, 2009, and 2014 through 2017.

Time magazine named Gates one of the 100 people who most influenced the 20th
century, as well as one of the 100 most influential people of 2004, 2005,
and 2006. Time also collectively named Gates, his wife Melinda and U2's lead
singer Bono as the 2005 Persons of the Year for their humanitarian efforts.
In 2006, he was voted eighth in the list of "Heroes of our time". Gates was
listed in the Sunday Times power list in 1999, named CEO of the year by
Chief Executive Officers magazine in 1994, ranked number one in the "Top 50
Cyber Elite" by Time in 1998, ranked number two in the Upside Elite 100 in
1999, and was included in The Guardian as one of the "Top 100 influential
people in media" in 2001.
Gates was elected a member of the US National Academy of Engineering in 1996
"for contributions to the founding and development of personal computing".
He was elected a foreign member of the Chinese Academy of Engineering in
2017.

According to Forbes, Gates was ranked as the fourth most powerful person in
the world in 2012,[134] up from fifth in 2011.

In 1994, he was honored as the 20th Distinguished Fellow of the British

Computer Society. In 1999, Gates received New York Institute of Technology's
President's Medal. Gates has received honorary doctorates from Nyenrode
Business Universiteit, KTH Royal Institute of Technology, Waseda University,
Tsinghua University, Harvard University, the Karolinska Institute, and
Cambridge University. He was also made an honorary trustee of Peking
University in 2007.

Gates was made an Honorary Knight Commander of the Order of the British
Empire by Queen Elizabeth II in 2005. In November 2006, he was awarded the
Placard of the Order of the Aztec Eagle, together with his wife Melinda who
was awarded the Insignia of the same order,
both for their philanthropic work around
the world in the areas of health and
education, particularly in Mexico, and
specifically in the program "Un país de
lectores". Gates received the 2010 Bower
Award for Business Leadership from The
Franklin Institute for his achievements at
Microsoft and his philanthropic work. Also
in 2010, he was honored with the Silver
Buffalo Award by the Boy Scouts of America,
its highest award for adults, for his
service to youth.

In 2002, Bill and Melinda Gates received

the Jefferson Award for Greatest Public
Service Benefiting the Disadvantaged. He
was given the 2006 James C. Morgan Global Humanitarian Award from the Tech
Awards. In 2015 Gates, along with his wife Melinda, received the Padma
Bhushan, India's third-highest civilian award for their social work in the
country. Barack Obama honored Bill and Melinda Gates with the Presidential
Medal of Freedom for their philanthropic efforts in 2016, and François
Hollande awarded Bill and Melinda in the following year with France's highest
national award – the Legion of Honour for their charity efforts.

Entomologists named Bill Gates' flower fly, Eristalis gatesi, in his honor
in 1997.

7
“Your most unhappy
customers are your
greatest source of
learning.”
- Bill Gates
 8

JEFF
BEZOS
 9

JEFF BEZOS
Jeffrey Preston Bezos born
Jeffrey Preston Jorgensen;
(January 12, 1964) is an
American technology
entrepreneur, investor, and
philanthropist. He is the
founder, chairman, CEO, and
president of Amazon.com, Inc.

Bezos was born in Albuquerque,

New Mexico, and raised in Houston, Texas. He graduated
from Princeton University in 1986 with degrees in
electrical engineering and computer science. He worked
on Wall Street in a variety of related fields from 1986
to early 1994. He founded Amazon in late 1994 on a cross-
country road trip from New York City to Seattle. The
company began as an online bookstore and has expanded to
a wide variety of other e-commerce products and services,
including video and audio streaming, cloud computing, and
artificial intelligence. It is currently the world's
largest online sales company, the largest internet
company by revenue, as well as the world's largest
provider of AI assistance and cloud infrastructure
services via its Amazon Web Services arm.

Bezos added to his business interests when he founded

the aerospace manufacturer and sub-orbital spaceflight
services company Blue Origin in 2000. A Blue Origin
test flight successfully first reached space
in 2015, and the company has plans to begin commercial
suborbital human spaceflight in 2019. He purchased major
American daily newspaper The Washington Post in 2013 for
US$250 million in cash, and manages other business
investments through his venture capital fund, Bezos
Expeditions.

On July 27, 2017, Bezos momentarily became the world's

wealthiest person when his estimated net worth increased
to just over $90 billion. His wealth surpassed $100
billion for the first time on November 24, 2017, and he
was formally designated the wealthiest person in the
world by Forbes on March 6, 2018, with a net worth of
$112 billion. The first centi-billionaire on the Forbes
wealth index, he was named the "richest man in modern
history" after his net worth increased to $150 billion
in July 2018. In September 2018, Forbes described Bezos
as "far richer than anyone else on the planet" as he
added $1.8 billion to his worth when Amazon's market cap
briefly reached $1 trillion.

10

EARLY LIFE
Bezos was born Jeffrey Preston
Jorgensen on January 12, 1964,
in Albuquerque, New Mexico, the
son of Jacklyn Gise Jorgensen
and Chicago, Illinois, native
Ted Jorgensen. At the time of his
birth, his mother was a 17-year-
old high school student, and his
father was a bike shop owner.
After Jacklyn divorced Ted, she married Cuban immigrant
Miguel "Mike" Bezos in April 1968. Shortly after the
wedding, Mike adopted four-year-old Jorgensen, whose
surname was then changed to Bezos. The family moved to
Houston, Texas, where Mike worked as an engineer for
Exxon after he received a degree from the University of
New Mexico Bezos attended River Oaks Elementary School
in Houston from fourth to sixth grade.

Bezos is the maternal grandson of Lawrence Preston Gise,

a regional director of the U.S. Atomic Energy Commission
(AEC) in Albuquerque. Gise retired early to his family's
ranch near Cotulla, Texas, where Bezos would spend many
summers in his youth. Bezos would later purchase this
ranch and grow it from 25,000 acres (10,117 ha) to 300,000
acres (121,406 ha). His maternal grandmother was Mattie
Louise Gise (née Strait), through whom he is a cousin of
country singer George Strait. Bezos often displayed
scientific interests and technological proficiency; he
once rigged an electric alarm to keep his younger
siblings out of his room.

The family moved to Miami,

Florida, where Bezos attended
Miami Palmetto High School.
While Bezos was in high school,
he worked at McDonald's as a
short-order line cook during the
breakfast shift. He attended the
Student Science Training Program
at the University of Florida. He
was high school valedictorian, a
National Merit Scholar, and a
Silver Knight Award winner in
1982. In 1986, he graduated from
Princeton University with a 4.2
grade point average and Bachelor of Science degrees in
electrical engineering and computer science and was a
member of Phi Beta Kappa. While at Princeton, he was also
elected to Tau Beta Pi and was the president of the
Princeton chapter of the Students for the Exploration and
Development of Space.

11

personal LIFE
In 1992, Bezos was working
for D. E. Shaw in
Manhattan when he met
novelist MacKenzie Tuttle,
who was a research
associate at the firm; the
Mackenzie are the parents
of four children: three
sons, and one daughter adopted from China.

In March 2003, Bezos was one of three passengers

in a helicopter that crashed in West Texas after
the craft's tail boom hit a tree Bezos sustained
minor injuries and was discharged from a local
hospital the same day.

In 2016, Bezos played a Starfleet official in

the movie Star Trek Beyond, and joined the cast
and crew at a San Diego Comic-Con screening.
On January 9, 2019, Bezos and his wife of 25
years, MacKenzie, announced on Twitter their
intent to divorce after a "long period" of
separation. On April 4, 2019, the
divorce was finalized, with
Bezos keeping 75% of the couple's
Amazon stock and MacKenzie
getting the remaining 25% ($35.6
billion) in Amazon stock.
However, Bezos would keep all of
the couple's voting rights.

On February 7, 2019, Bezos

published an online essay in
which he accused American Media, Inc. owner David
Pecker of "extortion and blackmail" for
threatening to publish intimate photos of Bezos
and Lauren Sánchez, if he did not stop his
investigation into how his text messages and
other photos had been leaked to the National
Enquirer.

12

recognition
In 1999, Bezos received
his first major award
when Time named him
Person of the Year. In
2008, he was selected
by U.S. News & World
Report as one of
America's best leaders. Bezos was awarded an
honorary doctorate in science and technology
from Carnegie Mellon University in 2008. In
2011, The Economist gave Bezos and Gregg Zehr
an Innovation Award for the Amazon Kindle. In
2012, Bezos was named Businessperson of the
Year by Fortune. He is also a member of the
Bilderberg Group and attended the 2011
Bilderberg conference in St. Moritz,
Switzerland, and the 2013 conference in
Watford, Hertfordshire, England. He was a
member of the Executive Committee of The
Business Council for 2011 and 2012. In 2014,
he was ranked the best-performing CEO in the
world by Harvard Business Review.

He has also figured in Fortune's list of 50

great leaders of the world for three straight
years, topping the list in 2015. In September
2016, Bezos received a $250,000 prize for
winning the Heinlein Prize for Advances in
Space Commercialization, which he donated to
the Students for the Exploration and
Development of Space. In February 2018, Bezos
was elected to the National Academy of
Engineering for "leadership and innovation in
space exploration, autonomous systems, and
building a commercial pathway for human space
flight". In March 2018, at the Explorers Club
annual dinner, he was awarded the Buzz Aldrin
Space Exploration Award in recognition of his
work with Blue Origin. He received Germany's
2018 Axel Springer Award for Business
Innovation and Social Responsibility. Time
magazine named him one of the 100 most
influential people in the world in their 2018
listing.
13

“If you do build a

great experience,
customers tell each
other about that.
Word of mouth is very
powerful.”
- Jeff Bezos
 14

Mark zuckerberg
 15

Mark zuckerberg
Mark Elliot Zuckerberg
born (May 14, 1984) is an
American technology
entrepreneur and
philanthropist.
Zuckerberg is known for
co-founding and leading
Facebook as its chairman
and chief executive
officer. He also co-
founded and is a board member of the solar
sail spacecraft development project
Breakthrough Starshot.

Born in White Plains, New York, Zuckerberg

attended Harvard University, where he
launched Facebook from his dormitory room on
February 4, 2004, with college roommates
Eduardo Saverin, Andrew McCollum, Dustin
Moskovitz, and Chris Hughes. Originally
launched to select college campuses, the
site expanded rapidly and eventually beyond
colleges, reaching one billion users by
2012. Zuckerberg took the company public in
May 2012 with majority shares. His net worth
is estimated to be $55.0 billion as of
November 30, 2018, declining over the last
year with Facebook stock as a whole. In 2007
at age 23 he became the world's youngest
self-made billionaire. As of 2018, he is the
only person under 50 in the Forbes ten
richest people list, and the only one under
40 in the Top 20 Billionaires list.

Since 2010, Time magazine has named

Zuckerberg among the 100 wealthiest and most
influential people in the world as a part of
its Person of the Year award. In December
2016, Zuckerberg was ranked 10th on Forbes
list of The World's Most Powerful People.

16
EARLY LIFE
Mark Zuckerberg was born
on May 14, 1984, in White
Plains, New York. His
parents are Karen (née
Kempner), a psychiatrist,
and Edward Zuckerberg, a
dentist. He and his three
sisters, Randi, Donna and Arielle, were
brought up in Dobbs Ferry, New York, a small
Westchester County village about 21 miles
north of Midtown Manhattan. Zuckerberg was
raised in a Reform Jewish household, with
ancestors hailing from Germany, Austria and
Poland. He had a Star Wars themed Bar Mitzvah
when he turned 13 and once "questioned
things" before deciding "religion is very
important".

At Ardsley High School, Zuckerberg excelled

in classes. After two years, he transferred
to the private school Phillips Exeter
Academy, in New
Hampshire, where he won
prizes in science
(mathematics, astronomy,
and physics) and
classical studies. In his
youth, he also attended
the Johns Hopkins Center for Talented Youth
summer camp. On his college application,
Zuckerberg stated that he could read and
write French, Hebrew, Latin, and ancient
Greek. He was captain of the fencing team.

17

PERSONAL
LIFE
Mark Zuckerberg met his future
wife, fellow student Priscilla
Chan, at a fraternity party during
his sophomore year at Harvard.
They began dating in 2003.

In September 2010, Zuckerberg

invited Chan, by then a medical student at the University
of California, to move into his rented Palo Alto house.
Zuckerberg studied Mandarin in preparation for the couple's
visit to China in December 2010. On May 19, 2012, Zuckerberg
and Chan married in Zuckerberg's backyard in an event that
also celebrated her graduation from medical school. On July
31, 2015, Zuckerberg announced that he and Chan were
expecting a baby girl. He said he felt confident that the
risk of miscarrying was low so far into the pregnancy,
after Chan had already suffered three miscarriages. On
December 1, Zuckerberg announced the birth of their
daughter, Maxima Chan Zuckerberg ("Max"). The couple
announced on their Chinese New Year video, published on
February 6, 2016, that Maxima's official Chinese name is
Chen Mingyu. They welcomed their second daughter, August,
in August 2017.Before having children, the Zuckerbergs got
a Puli dog named Beast who has over 2 million followers on
Facebook.

Zuckerberg has also been very active in China, and he has

been a member of Tsinghua University business school's
advisory board since 2014.

Zuckerberg was raised Jewish but later identified as an

atheist, a position he has since
renounced. He has shown an
appreciation for Buddhism. With
regard to Christianity, both
Zuckerberg and his wife told Pope
Francis in August 2016 "how much
we admire his message of mercy and
tenderness, and how he's found new
ways to communicate with people of
every faith around the world." In
December 2016, when asked "Aren't
you an atheist?" in response to a
Christmas Day post on Facebook,
Zuckerberg responded, "No. I was raised Jewish and then I
went through a period where I questioned things, but now I
believe religion is very important." As he closed his
commencement address at Harvard University in May 2017,
Zuckerberg shared the Jewish prayer Mi Shebeirach, which
he stated he says when he faces challenges in life.

18
Recognition
In May 2012, Facebook had
its initial public offering,
which raised $16 billion,
making it the biggest
Internet IPO in history.

After the initial success of

the IPO, the Facebook stock
price dropped somewhat in
the early days of trading,
though Zuckerberg is
expected to weather any ups and downs in his
company's market performance.

In 2013, Facebook made the Fortune 500 list for

the first time—making Zuckerberg, at the age of
28, the youngest CEO on the list.

The negative PR around the 2016 election and

Cambridge Analytica scandal seemingly did little
to slow the company's progress: Facebook saw its
stock close at a record $203.23 on July 6, 2018.
The surge bumped Zuckerberg past Berkshire
Hathaway chief Warren Buffett to become the
world's third-richest person, behind fellow tech
titans Jeff Bezos and Bill Gates.

Any gains were wiped out when Facebook shares

dropped a staggering 19 percent on July 26,
following an earnings report that revealed a
failure to meet revenue expectations and slowing
user growth. Nearly $16 billion of Zuckerberg's
personal fortune was erased in one day.

The stock rebounded, and

Zuckerberg remains one of
the world's wealthiest
people. In 2019, Forbes
ranked Zuckerberg at No. 8
on its ‘Billionaires’ list—
behind Microsoft founder
Bill Gates (No. 2) and ahead
of Google co-founders Larry Page (No. 10) and
Sergey Brin (No. 14). The magazine estimated his
net worth to be about $62.3 billion at the time.

19

“By giving people the

power to share, we're
making the world
more transparent.”
- Mark Zuckerberg

20
WARREN
BUFFET

21
Warren buffet
Warren Edward Buffett (born
August 30, 1930) is an
American business magnate,
investor, speaker and
philanthropist who serves as
the chairman and CEO of
Berkshire Hathaway. He is
considered one of the most
successful investors in the
world and has a net worth of US$89.9 billion as of May
4, 2019, making him the third-wealthiest person in the
world.

Buffett was born in Omaha, Nebraska. He developed an

interest in business and investing in his youth,
eventually entering the Wharton School of the
University of Pennsylvania in 1947 before transferring
and graduating from University of Nebraska at the age
of 19. He went on to graduate from Columbia Business
School, where he molded his investment philosophy
around the concept of value investing that was
pioneered by Benjamin Graham. He attended New York
Institute of Finance to focus his economics background
and soon after began various business partnerships,
including one with Graham. He created Buffett
Partnership, Ltd in 1956 and his firm eventually
acquired a textile manufacturing firm called Berkshire
Hathaway and assumed its name to create a diversified
holding company. In 1978, Charlie Munger joined Buffett
and became vice chairman of the company.

Buffett has been the chairman and largest shareholder

of Berkshire Hathaway since 1970, and he has been
referred to as the "Wizard", "Oracle", or "Sage" of
Omaha by global media outlets He is noted for his
adherence to value investing and for his personal
frugality despite his immense wealth. Research
published at the University of Oxford characterizes
Buffett's investment methodology as falling within
"founder centrism" – defined by a deference to managers
with a founder's mindset, an ethical disposition
towards the shareholder collective, and an intense
focus on exponential value creation. Essentially,
Buffett's concentrated investments shelter managers
from the short-term pressures of the market.

Buffett is a notable philanthropist, having pledged to

give away 99 percent of his fortune to philanthropic
causes, primarily via the Bill & Melinda Gates
Foundation. He founded The Giving Pledge in 2009 with
Bill Gates, whereby billionaires pledge to give away
at least half of their fortunes. He endorsed Democratic
candidate Hillary Clinton in the 2016 U.S. presidential
election; and will judge current U.S. President Donald
Trump by his results on national safety, economic
growth, and economic participation when deciding if he
will vote for him in the 2020 U.S. presidential
election.

22

Early life
Buffett was born in 1930 in Omaha,
Nebraska, the second of three children and
the only son of Leila and Congressman
Howard Buffett. Buffett began his
education at Rose Hill Elementary School.
In 1942, his father was elected to the
first of four terms in the United States
Congress, and after moving with his family
to Washington, D.C., Warren finished
elementary school, attended Alice Deal
Junior High School and graduated from
Woodrow Wilson High School in 1947, where
his senior yearbook
picture reads: "likes math; a future stockbroker. "After finishing high
school and finding success with his side entrepreneurial and investment
ventures, Buffett wanted to skip college to go directly into business, but
was overruled by his father.

Buffett displayed an interest in business and investing at a young age. He

was inspired by a book he borrowed from the Omaha public library at the age
of seven, One Thousand Ways to Make $1000. Much of Buffett's early childhood
years were enlivened with entrepreneurial ventures. In one of his first
business ventures Buffett sold chewing gum, Coca-Cola bottles, and weekly
magazines door to door. He worked in his grandfather's grocery store. While
still in high school, he made money delivering newspapers, selling golf
balls and stamps, and detailing cars, among other means. On his first income
tax return in 1944, Buffett took a $35 deduction for the use of his bicycle
and watch on his paper route. In 1945, as a high school sophomore, Buffett
and a friend spent $25 to purchase a used pinball machine, which they placed
in the local barber shop. Within months, they owned several machines in
three different barber shops across Omaha. The business was sold later in
the year for $1,200 to a war veteran.

Buffett's interest in the stock market and

investing dated to schoolboy days he spent
in the customers' lounge of a regional
stock brokerage near his father's own
brokerage office. On a trip to New York City
at age ten, he made a point to visit the
New York Stock Exchange. At 11, he bought
three shares of Cities Service Preferred
for himself, and three for his
philanthropic sister Doris Buffett. At the
age of 15, Warren made more than $175
monthly delivering Washington Post
newspapers. In high school, he invested in
a business owned by his father and bought
a 40-acre farm worked by a tenant farmer.
He bought the land when he was 14 years old
with $1,200 of his savings. By the time he
finished college, Buffett had accumulated
$9,800 in savings (about $103,000 today).

In 1947, Buffett entered the Wharton School

of the University of Pennsylvania. He would have preferred to focus on his
business ventures; however, he enrolled due to pressure from his father.
Warren studied there for two years and joined the Alpha Sigma Phi fraternity.
He then transferred to the University of Nebraska where at 19, he graduated
with a Bachelor of Science in Business Administration. After being rejected
by Harvard Business School, Buffett enrolled at Columbia Business School of
Columbia University upon learning that Benjamin Graham taught there. He
earned a Master of Science in Economics from Columbia in 1951. After
graduating, Buffett attended the New York Institute of Finance.

23
PERSONAL
LIFE
In 1949, Buffett was infatuated with
a young woman whose boyfriend had a
ukulele. In an attempt to compete, he
bought one of the diminutive
instruments and has been playing it
ever since. Though the attempt was
unsuccessful, his music interest was
a key part of his becoming a part of
Susan Thompson's life and led to their marriage. Buffett often
plays the instrument at stock holder meetings and other
opportunities. His love of the instrument led to the commissioning
of two custom Dairy Queen ukuleles by Dave Talsma, one of which
was auctioned for charity.

Buffett married Susan Buffett in 1952. They had three children,

Susie, Howard and Peter. The couple began living separately in
1977, although they remained married until Susan Buffett's death
in July 2004. Their daughter, Susie, lives in Omaha, is a national
board member of Girls, Inc., and does charitable work through the
Susan A. Buffett Foundation.

In 2006, on his 76th birthday, Buffett married his longtime

companion, Astrid Menks, who was then 60 years old—she had lived
with him since his wife's departure to San Francisco in 1977. Susan
had arranged for the two to meet before she left Omaha to pursue
her singing career. All three were close and Christmas cards to
friends were signed "Warren, Susie and Astrid". Susan briefly
discussed this relationship in an interview on the Charlie Rose
Show shortly before her death, in a rare glimpse into Buffett's
personal life.
 Buffett disowned his son
Peter's adopted daughter,
Nicole, in 2006 after she
participated in the Jamie
Johnson documentary The One
Percent about the growing
economic inequality between
the wealthy and the average
citizen in the United States.
Although his first wife
referred to Nicole as one of
her "adored grandchildren",
Buffett wrote her a letter
stating, "I have not
emotionally or legally
adopted you as a grandchild, nor have the rest of my family adopted
you as a niece or a cousin."

24
His 2006 annual salary
was about $100,000, which
is small compared to
senior executive
remuneration in
comparable companies In
2008, he earned a total
compensation of
$175,000, which included
a base salary of just
$100,000.He continued to
live in the same house in
the central Dundee
neighborhood of Omaha that he bought in 1958 for $31,500,
a fraction of today's value. He also owns a $4 million
house in Laguna Beach, California. In 1989, after spending
nearly $6.7 millions of Berkshire's funds on a private jet,
Buffett named it "The Indefensible". This act was a break
from his past condemnation of extravagant purchases by
other CEOs and his history of using more public
transportation.

Bridge is such a sensational game that I wouldn't mind

being in jail if I had three cellmates who were decent
players and who were willing to keep the game going twenty-
four hours a day.
Buffett is an avid bridge player, which he plays with fellow
fan Gates. he allegedly spends 12 hours a week playing the
game. In 2006, he sponsored a bridge match for the Buffett
Cup. Modeled on the Ryder Cup in golf
held immediately before it in the same
city. the teams are chosen by
invitation, with a female team and five
male teams provided by each country.

He is a dedicated, lifelong follower of

Nebraska football, and attends as many
games as his schedule permits. He
supported the hire of Bo Pelini,
following the 2007 season, stating, "It
was getting kind of desperate around
here". He watched the 2009 game against
Oklahoma from the Nebraska sideline,
after being named an honorary assistant coach.

Buffett worked with Christopher Webber on an animated

series called "Secret Millionaires Club" with chief Andy
Heyward of DiC Entertainment. The series features Buffett
and Munger, and teaches children healthy financial habits.

25
Buffett was raised as a Presbyterian, but has since
described himself as agnostic. In December 2006, it was
reported that Buffett does not carry a mobile phone, does
not have a computer at his desk, and drives his own
automobile, a Cadillac DTS In contrast to that, at the 2018
Berkshire Hathaway's shareholder meeting, he said he uses
Google as his preferred search engine. In 2013 he had an
old Nokia flip phone and had sent one email in his entire
life. Buffett reads five newspapers every day, beginning
with the Omaha World Herald, which his company acquired
in 2011.

Buffett's speeches are known for

mixing business discussions with
humor. Each year, Buffett
presides over Berkshire
Hathaway's annual shareholder
meeting in the Qwest Center in
Omaha, Nebraska, an event
drawing over 20,000 visitors
from both the United States and
abroad, giving it the nickname "Woodstock of Capitalism".
Berkshire's annual reports and letters to shareholders,
prepared by Buffett, frequently receive coverage by the
financial media. Buffett's writings are known for
containing quotations from sources as varied as the Bible
and Mae West, as well as advice in a folksy, Midwestern
style and numerous jokes.

In April 2017, Buffett (an avid Coca-Cola drinker and

investor in the company) agreed to have his likeness
placed on Cherry Coke products in China. Buffett was not
compensated for this advertisement.
 26

RECOGNITION
In 2008, Buffett was ranked
by Forbes as the richest
person in the world with an
estimated net worth of
approximately $62 billion.
In 2009, after donating
billions of dollars to
charity, he was ranked as
the second richest man in
the United States with a net
worth of $37 billion with
only Bill Gates ranked
higher than Buffett. His net worth had risen to $58.5 billion
as of September 2013.

In 1999, Buffett was named the top money manager of the

Twentieth Century in a survey by the Carson Group, ahead of
Peter Lynch and John Templeton. In 2007, he was listed among
Time's 100 Most Influential People in the world. In 2011,
President Barack Obama awarded him the Presidential Medal of
Freedom. Buffett, along with Bill Gates, was named the most
influential global thinker in Foreign Policy's 2010 report.

Buffett has written several times of his belief that, in a

market economy, the rich earn outsized rewards for their
talents His children will not inherit a significant
proportion of his wealth. He once commented, "I want to give
my kids just enough so that they would feel that they could
do anything, but not so much that they would feel like doing
nothing".
Buffett had long stated his intention to give away his fortune
to charity, and in June 2006, he announced a new plan to give
83% of it to the Bill &
Melinda Gates Foundation. He
pledged about the equivalent
of 10 million Berkshire
Hathaway Class B shares to
the Bill & Melinda Gates
Foundation (worth
approximately $30.7 billion
as of June 23, 2006), making
it the largest charitable
donation in history, and
Buffett one of the leaders of
philanthrocapitalism. The
foundation will receive 5% of
the total each July, beginning in 2006. (The pledge is
conditional upon the foundation's giving away each year,
beginning in 2009, an amount that is at least equal to the
value of the entire previous year's gift from Buffett, in
addition to 5% of the foundation's net assets.) Buffett joined
the Gates Foundation's board, but did not plan to be actively
involved in the foundation's investments.

27
This represented a
significant shift from
Buffett's previous
statements, to the
effect that most of his
fortune would pass to
his
Buffett Foundation. The
bulk of the estate of
his wife, valued at $2.6
billion, went there
when she died in 2004.
He also pledged $50
million to the Nuclear
Threat Initiative, in Washington, where he began serving as
an adviser in 2002.
In 2006, he auctioned his 2001 Lincoln Town Car on eBay to
raise money for Girls, Inc. In 2007, he auctioned a luncheon
with himself that raised a final bid of $650,100 for the Glide
Foundation. Later auctions raised $2.1 million $1.7 million
and $3.5 million. The winners traditionally dine with Buffett
at New York's Smith and Wollensky steak house. The restaurant
donates at least $10,000 to Glide each year to host the meal.

In 2009, Ralph Nader wrote the book "Only the Super Rich Can
Save Us," a novel about "a movement of billionaires led by
Warren Buffett and featuring, among others, Ted Turner,
George Soros and Barry Diller, who use their fortunes to clean
up America."On C-SPAN BookTV, Nader said Buffett invited him
to breakfast after the book came out and was "quite intrigued
by the book." He also told Nader of his plan to get
"billionaires all over the world to donate 50% of their estate
to charity or good works." [156]On December 9, 2010, Buffett,
Bill Gates, and Facebook CEO Mark Zuckerberg signed a promise
they called the "Gates-Buffett Giving Pledge", in which they
promise to donate to charity at least half of their wealth,
and invite other wealthy people to follow suit. in 2018, after
making almost $3.4 billion donations, Buffet was ranked 3rd
in the Forbes' List of Billionaire 2018.

Warren Buffett
continues to help fund
and support his
family's individual
foundations which
include Susan Buffett's
Susan Thompson Buffett
Foundation, Susan Alice
Buffett's Sherwood
Foundation, Howard
Graham Buffett's Howard
G. Buffett Foundation,
and Peter Buffett's NoVo Foundation. Warren Buffett is also
supportive of his sister Doris Buffett's Letters Foundation
and Learning By Giving Foundation.
 28

“We simply attempt to

be fearful when
others are greedy and
to be greedy only
when others are
fearful.”
- Warren Buffet
 29

CARLOS SLIM
HELU
 30

CARLOS SLIM
HELU
Carlos Slim Helú born
(January 28, 1940) is
a Mexican business
magnate, engineer,
investor and philanthropist. From
2010 to 2013, Slim was ranked as the
richest person in the world by the
Forbes business magazine. He derived
his fortune from his extensive
holdings in a considerable number of
Mexican companies through his
conglomerate, Grupo Carso. As of
April 2019, he is the fifth-richest
person in the world according to
Forbes' listing of The World's
Billionaires, with him and his
family having a net worth estimated
at $63.1 billion. He is the richest
person in Latin America.

His conglomerate includes education,

health care, industrial
manufacturing, transportation, real
estate, media, energy, hospitality,
entertainment, high-technology,
retail, sports and financial
services. He accounts for 40% of the
listings on the Mexican Stock
Exchange, while his net worth is
equivalent to about 6 percent of
Mexico's gross domestic product. As
of 2016, he is the largest single
shareholder of The New York Times
Company.

31
Early life
Slim was born on 28 January
1940, in Mexico City, to
Julián Slim Haddad (born
Khalil Salim Haddad Aglamaz)
and Linda Helú Atta, both
Maronite Catholics from
Lebanon.

Slim always knew he wanted to be a businessman and

began to develop his business and investment acumen
at a young age. He received business lessons from his
father Julián, who taught him finance, management and
accounting, teaching him how to read financial
statements as well as the importance of keeping
accurate financial records, a practice that Slim
carries on to this day.

At the age of 11, Carlos invested in a government

savings bond that taught him about the concept of
compound interest. He eventually saved every
financial and business
transaction he made into a
personal ledger book which he
keeps to this day. At the age of
12, he made his first stock
purchase, by purchasing shares
in a Mexican bank By the age of
15, Slim had become a
shareholder in Mexico's largest
bank. At the age of 17, he
earned 200 pesos a week working
for his father's company. He
went on to study civil
engineering at the National
Autonomous University of Mexico, where he also
concurrently taught algebra and linear programming.

Though Slim was a civil engineering major, he also

displayed an interest in economics. He took economics
courses in Chile once he finished his engineering
degree. Graduating as a civil engineering major, Slim
has stated that his mathematical ability and his
background of linear programming was a key factor in
helping him gain an edge in the business world,
especially when reading financial statements.

32

PERSONAL LIFE
Carlos Slim was
married to Soumaya
Domit from 1967
until her death in
1999. Among her
interests were
various
philanthropic
projects, including
the creation of a legal framework for organ
donation. Slim has six children: Carlos,
Marco Antonio, Patrick, Soumaya, Vanessa,
and Johanna. Slim's fortune has given rise
to a family business
empire and he often acquires shares on behalf
of himself and his children. His three older
sons serve in key positions in the companies
controlled by Slim where most are involved
in the day-to-day running of Slim's business
empire. Slim underwent heart surgery in
1999. In high school, Slim's favorite
subjects were history, cosmography, and
mathematics. Slim and his wife had a very
happy marriage, and he indicated that he does
not intend to remarry.

In his office, Slim does

not keep a computer and
instead prefers to keep
all his financial data in
hand-written notebooks.
Due to the vast size of
his business empire, Slim
often jokes that he
cannot keep track of all
the companies he manages. Carlos Slim is a
Maronite Catholic, and he is one of the
prominent backers of Legion of Christ, a
Roman Catholic religious institute.

33
RECOGNITION
On March 29, 2007, Slim surpassed American investor
Warren Buffett as the world's second richest person with
an estimated net worth of US$53.1 billion compared with
Buffet's US$52.4 billion.

On August 4, 2007, The Wall Street Journal ran a cover

story profiling Slim. The article said, "While the market
value of his stake in publicly traded companies could
decline at any time, at the moment he is probably
wealthier than Bill Gates". According to The Wall Street
Journal, Slim credits part of his ability to "discover
investment opportunities" early to the writings of his
friend, futurist author Alvin Toffler.

On August 8, 2007, Fortune magazine reported that Slim

had overtaken Gates as the world's richest person. Slim's
estimated fortune soared to US$59 billion, based on the
value of his public holdings at the end of July. Gates'
net worth was estimated to be at least US$58 billion.

On March 5, 2008, Forbes ranked Slim as the world's

second-richest person, behind Warren Buffett and ahead
of Bill Gates. On March 11, 2009, Forbes ranked Slim as
the world's third-richest person, behind Gates and
Buffett and ahead of Larry Ellison.
On March 10, 2010, Forbes once again reported that Slim
had overtaken Gates as the world's richest person, with
a net worth of US$53.5 billion. At the time, Gates and
Buffett had a net worth of
US$53 billion and US$47
billion respectively. He
was the first Mexican to
top the list. It was the
first time in 16 years
that the person on top of
the list was not from the
United States. It was
also the first time the
person at the top of the
list was from an "emerging economy". Between 2008 and
2010, Slim more than doubled his net worth from $35 to
$75 billion.

In March 2011 Forbes stated that Slim had maintained his

position as the wealthiest person in the world, with his
fortune estimated at
US$74 billion.

34
In December 2012,
according to the
Bloomberg Billionaires
Index, Carlos Slim Helú
remained the world's
richest person with an
estimated net worth of
US$75.5 billion.

On March 5, 2013, Forbes

stated that Slim was still maintaining his first-place
position as the wealthiest person in the world, with an
estimated net worth of US$73 billion. On May 16, 2013,
Bloomberg L.P. ranked Slim the second-richest person in
the world, after Bill Gates.
On July 15, 2014, Forbes announced that Slim had
reclaimed the position of the wealthiest person in the
world, with a fortune of US$79.6 billion

In September 2014, Forbes listed Slim as number 1 on its

list of billionaires with a net worth of US$81.6 billion.

As of December 2016 his net worth was US$48.1 billion.

In 2017, his net worth was reported to be $54.5 billion.

35
 “Firm and patient
optimism always
yields its rewards.”
- Carlos Slim Helu

36

REFERENCES | SOURCES

Bill Gates:
https://en.wikipedia.org/wiki/Bill_Gates
Jeff Bezos:
https://en.wikipedia.org/wiki/Jeff_Bezos

Mark Zuckerberg:
https://en.wikipedia.org/wiki/Mark_Zuckerberg
https://www.biography.com/business-
figure/mark-zuckerberg

Warren Buffett:
https://en.wikipedia.org/wiki/Warren_Buffett

Carlos Slim Helu:

https://en.wikipedia.org/wiki/Carlos_Slim

37