Warren Buffett: 15 Things You Didn’t Know (Part 1)

You might know Warren Buffett for being one of the richest people in the world, but how much do you really know about him? Despite the fact that Buffett has spent a considerable amount of time in the spotlight and under the scrutiny of the public eye, there are still some things that many people don’t know. With that in mind, here we present our list of 15 things you probably didn’t know about Warren Buffett. Check out part one below, and stay tuned for part two, coming soon!

Number Fifteen: He Loves Junk Food. Buffett eats 2,500 calories a day, and he prefers that those calories come in the form of junk food. His favorite meal of junk food is a cherry coke and a cheeseburger.

Number Fourteen: He Bought Berkshire Hathaway So He Could Fire the CEO. In 1964, Buffett and Berkshire Hathaway’s CEO agreed on a price at which Buffett would sell shares back to the company. However, when the transaction was made, Berkshire Hathaway bought the shares back at 12.5 cents lower per share than the price they agreed on. Buffett subsequently purchased a controlling share of the business and fired the CEO.

Number Thirteen: Salad Dressing Is Responsible for One of His Best Investments. In 1963, American Express loaned $175 million to a vegetable oil and salad dressing company against its inventory of oil. However, when it was discovered the oil was mostly water with a little bit of oil, American Express’ stock fell by 50 percent. Buffett then bought $13 million in American Express shares, and when AmEx bounced back from the incident, he made a fortune.

Number Twelve: He Regrets Investing in Dexter Shoe Inc. Buffett has described his $443 million investment in Dexter Shoe Inc. as “the worst deal that I’ve made.” He made the transaction in 1993.

Number Eleven: He Always Knew He Was Going to Be Rich. Buffett has admitted that he always thought he would end up wealthy. In fact, he said that he never even doubted it for a single minute.

Number Ten: He Donated at Least $25 Billion to Charity. Buffett has given a lot of money to his children’s foundations, as well as the Bill and Melinda Gates Foundation. He has even pledged to give away 99 percent of his wealth instead of passing it down as an inheritance.

Number Nine: He Carries a Flip Phone. It’s true! Despite his wealth, Buffett still carries a Nokia flip phone.