Coordinates | 12°58′0″N77°34′0″N |
---|---|
name | Bill Gates |
birth date | October 28, 1955 |
birth place | Seattle, Washington, U.S. |
birth name | William Henry Gates III |
occupation | Chairman of MicrosoftChairman of CorbisCo-Chair of the Bill & Melinda Gates FoundationDirector of Berkshire HathawayCEO of Cascade Investment |
years active | 1975–present |
nationality | American |
net worth | US$56 billion (2011) |
religion | Agnostic |
spouse | |
children | 3 |
residence | Medina, Washington, U.S. |
alma mater | Harvard University (Dropout) |
website | Bill Gates |
signature | BillGates Signature.svg |
parents | William H. Gates, Sr.Mary Maxwell Gates }} |
William Henry "Bill" Gates III (born October 28, 1955) is an American business magnate, philanthropist, author and chairman of Microsoft, the software company he founded with Paul Allen. He is consistently ranked among the world's wealthiest people and was the wealthiest overall from 1995 to 2009, excluding 2008, when he was ranked third. During his career at Microsoft, Gates held the positions of CEO and chief software architect, and remains the largest individual shareholder, with more than 8 percent of the common stock. He has also authored or co-authored several books.
Gates is one of the best-known entrepreneurs of the personal computer revolution. Although he is admired by many, a number of industry insiders criticize his business tactics, which they consider anti-competitive, an opinion which has in some cases been upheld by the courts. In the later stages of his career, Gates has pursued a number of philanthropic endeavors, donating large amounts of money to various charitable organizations and scientific research programs through the Bill & Melinda Gates Foundation, established in 2000.
Gates stepped down as chief executive officer of Microsoft in January 2000. He remained as chairman and created the position of chief software architect. In June 2006, Gates announced that he would be transitioning from full-time work at Microsoft to part-time work, and full-time work at the Bill & Melinda Gates Foundation. He gradually transferred his duties to Ray Ozzie, chief software architect, and Craig Mundie, chief research and strategy officer. Gates' last full-time day at Microsoft was June 27, 2008. He remains at Microsoft as non-executive chairman.
At 13 he enrolled in the Lakeside School, an exclusive preparatory school. When he was in the eighth grade, the Mothers Club at the school used proceeds from Lakeside School's rummage sale to buy an 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 Kent Evans—for the summer after it caught them exploiting bugs in the operating system to obtain free computer time.
At the end of the ban, the four students offered to find bugs in CCC's software in exchange for computer time. Rather than use the system 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 Lakeside 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 computer program to schedule students in classes. He modified the code so that he was placed in classes with mostly female students. 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 early 1973, Bill Gates served as a congressional page in the U.S. House of Representatives.
Gates graduated from Lakeside School in 1973. He scored 1590 out of 1600 on the SAT and enrolled at Harvard College in the autumn of 1973. While at Harvard, he met Steve Ballmer, who later succeeded Gates as CEO of Microsoft.
In his sophomore year, Gates devised an algorithm for pancake sorting as a solution to one of a series of unsolved problems presented in a combinatorics class by Harry Lewis, one of his professors. Gates' solution held the record as the fastest version for over thirty years; its successor is faster by only one percent. His solution was later formalized in a published paper in collaboration with Harvard computer scientist Christos Papadimitriou.
Gates did not have a definite study plan while a student at Harvard and spent a lot of time using the school's computers. Gates remained in contact with Paul Allen, joining him at Honeywell during the summer of 1974. The following year saw the release of the MITS Altair 8800 based on the Intel 8080 CPU, and Gates and Allen saw this as the opportunity to start their own computer software company. He had talked this decision over with his parents, who were supportive of him after seeing how much Gates wanted to start a company.
Microsoft's BASIC was popular with computer hobbyists, but Gates discovered that a pre-market copy had leaked into the community and was being widely copied and distributed. In February 1976, Gates wrote an Open Letter to Hobbyists in the MITS newsletter saying that MITS could not continue to produce, distribute, and maintain high-quality software without payment. This letter was unpopular with many computer hobbyists, but Gates persisted in his belief that software developers should be able to demand payment. Microsoft became independent of MITS in late 1976, and it continued to develop programming language software for various systems. The company moved from Albuquerque to its new home in Bellevue, Washington on January 1, 1979.
During Microsoft's early years, all employees had broad responsibility for the company's business. Gates oversaw the business details, but continued to write code as well. In the first five years, Gates personally reviewed every line of code the company shipped, and often rewrote parts of it as he saw fit.
Gates oversaw Microsoft's company restructuring on June 25, 1981, which re-incorporated the company in Washington state and made Gates President of Microsoft and the Chairman of the Board.
As an executive, Gates met regularly with Microsoft's senior managers and program managers. Firsthand accounts of these meetings describe him as verbally combative, berating managers for perceived holes in their business strategies or proposals that placed the company's long-term interests at risk. He often interrupted presentations with such comments as, "That's the stupidest thing I've ever heard!" and, "Why don't you just give up your options and join the Peace Corps?" The target of his outburst then had to defend the proposal in detail until, hopefully, Gates was fully convinced. When subordinates appeared to be procrastinating, he was known to remark sarcastically, "I'll do it over the weekend."
Gates' role at Microsoft for most of its history was primarily a management and executive role. However, he was an active software developer in the early years, particularly on the company's programming language products. He has not officially been on a development team since working on the TRS-80 Model 100, but wrote code as late as 1989 that shipped in the company's products. On June 15, 2006, Gates announced that he would transition out of his day-to-day role over the next two years to dedicate more time to philanthropy. He divided his responsibilities between two successors, placing Ray Ozzie in charge of day-to-day management and Craig Mundie in charge of long-term product strategy.
Many decisions that led to antitrust litigation over Microsoft's business practices have had Gates' approval. In the 1998 ''United States v. Microsoft'' case, Gates gave deposition testimony that several journalists characterized as evasive. He argued with examiner David Boies over the contextual meaning of words like "compete", "concerned" and "we". ''BusinessWeek'' reported:
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Gates later said he had simply resisted attempts by Boies to mischaracterize his words and actions. As to his demeanor during the deposition, he said, "Did I fence with Boies? ... I plead guilty. Whatever that penalty is should be levied against me: rudeness to Boies in the first degree." Despite Gates's denials, the judge ruled that Microsoft had committed monopolization and tying, and blocking competition, both in violation of the Sherman Antitrust Act.
In April 2010, Gates was invited to visit and speak at the Massachusetts Institute of Technology where he asked the students to take on the hard problems of the world in their futures.
His estate has a swimming pool with an underwater music system, as well as a gym and a dining room.
Also among Gates' private acquisitions is the Codex Leicester, a collection of writings by Leonardo da Vinci, which Gates bought for $30.8 million at an auction in 1994. Gates is also known as 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.
Gates was number one on the Forbes 400 list from 1993 through to 2007 and number one on ''Forbes'' list of The World's Richest People from 1995 to 2007 and 2009. In 1999, Gates's wealth briefly surpassed $101 billion, causing the media to call him a "centibillionaire". 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 multi-billion 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. Gates has several investments outside Microsoft, which in 2006 paid him a salary of $616,667 and $350,000 bonus totalling $966,667. He founded Corbis, a digital imaging company, in 1989. In 2004 he became a director of Berkshire Hathaway, the investment company headed by long-time friend Warren Buffett. In March 2010 Bill Gates was bumped down to the second wealthiest man behind Carlos Slim.
Gates began to appreciate the expectations others had of him when public opinion mounted suggesting that he could give more of his wealth to charity. Gates studied the work of Andrew Carnegie and John D. Rockefeller, and in 1994 sold some of his Microsoft stock to create the William H. Gates Foundation. In 2000, Gates and his wife combined three family foundations into one to create the charitable Bill & Melinda Gates Foundation, which is the largest transparently operated charitable foundation in the world. The foundation allows benefactors access to information regarding how its money is being spent, unlike other major charitable organizations such as the Wellcome Trust. The generosity and extensive philanthropy of David Rockefeller has been credited as a major influence. Gates and his father met with Rockefeller several times, and modeled their giving in part on the Rockefeller family's philanthropic focus, namely those global problems that are ignored by governments and other organizations. As of 2007, Bill and Melinda Gates were the second-most generous philanthropists in America, having given over $28 billion to charity.
The foundation was at the same time criticized because it invests assets that it has not yet distributed with the exclusive goal of maximizing return on investment. As a result, its investments include companies that have been charged with worsening poverty in the same developing countries where the Foundation is attempting to relieve poverty. These include companies that pollute heavily, and pharmaceutical companies that do not sell into the developing world. In response to press criticism, the foundation announced in 2007 a review of its investments, to assess social responsibility. It subsequently canceled the review and stood by its policy of investing for maximum return, while using voting rights to influence company practices.
Gates's wife urged people to learn a lesson from the philanthropic efforts of the Salwen family, which had sold its home and given away half of its value, as detailed in ''The Power of Half''. Gates and his wife invited Joan Salwen to Seattle to speak about what the family had done, and on December 9, 2010, Gates, investor Warren Buffett, and Mark Zuckerberg (Facebook's CEO) signed a promise they called the "Gates-Buffet Giving Pledge", in which they promised to donate to charity at least half of their wealth over the course of time.
''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.
In 1994, he was honoured as the twentieth Distinguished Fellow of the British Computer Society. Gates has received honorary doctorates from Nyenrode Business Universiteit, Breukelen, The Netherlands, in 2000; the Royal Institute of Technology, Stockholm, Sweden, in 2002; Waseda University, Tokyo, Japan, in 2005; Tsinghua University, Beijing, China, in April 2007; Harvard University in June 2007; the Karolinska Institutet, Stockholm, in January 2008, and Cambridge University in June 2009. He was also made an honorary trustee of Peking University in 2007. Gates was also made an honorary Knight Commander of the Order of the British Empire (KBE) by Queen Elizabeth II in 2005, in addition to having entomologists name the Bill Gates flower fly, ''Eristalis gatesi'', in his honor.
In November 2006, he and his wife were awarded the Order of the Aztec Eagle 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"''. In October 2009, it was announced that Gates will be awarded the 2010 Bower Award for Business Leadership of The Franklin Institute for his achievements in business and for his philanthropic work. 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.
Category:1955 births Category:American billionaires Category:American computer businesspeople Category:American chief executives Category:American computer programmers Category:American philanthropists Category:American technology writers Category:Bill & Melinda Gates Foundation people Category:Businesspeople in software Category:Harvard University people Category:Honorary Knights Commander of the Order of the British Empire Category:Members of the United States National Academy of Engineering Category:Microsoft employees Category:History of Microsoft Category:National Medal of Technology recipients Category:Living people Category:People from Seattle, Washington Category:People from King County, Washington Category:Windows people Category:Fellows of the British Computer Society Category:American people of Scottish descent
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Coordinates | 12°58′0″N77°34′0″N |
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name | Steve Jobs |
birth name | Steven Paul Jobs |
birth date | February 24, 1955 |
birth place | |
death date | October 05, 2011 |
death place | |
occupation | Chairman, Apple Inc. |
Boards | The Walt Disney Company, Apple, Inc. |
alma mater | Reed College (one semester in 1972) |
networth | $8.3 billion (2011) |
religion | Buddhism |
spouse | Laurene Powell Jobs(m. 1991–2011; his death) |
children | 4 |
signature | Firma de Steve Jobs.svg |
relatives | Mona Simpson (sister) |
website | }} |
In the late 1970s, Jobs, with Apple co-founder Steve Wozniak, Mike Markkula, and others, designed, developed, and marketed one of the first commercially successful lines of personal computers, the Apple II series. In the early 1980s, Jobs was among the first to see the commercial potential of Xerox PARC's mouse-driven graphical user interface, which led to the creation of the Macintosh. After losing a power struggle with the board of directors in 1985, Jobs resigned from Apple and founded NeXT, a computer platform development company specializing in the higher-education and business markets. Apple's subsequent 1996 buyout of NeXT brought Jobs back to the company he co-founded, and he served as its CEO from 1997 until 2011.
In 1986, he acquired the computer graphics division of Lucasfilm Ltd which was spun off as Pixar Animation Studios. He remained CEO and majority shareholder at 50.1 percent until its acquisition by The Walt Disney company in 2006. Consequently Jobs became Disney's largest individual shareholder at 7 percent and a member of Disney's Board of Directors.
On August 24, 2011, Jobs announced his resignation from his role as Apple's CEO. In his letter of resignation, Jobs strongly recommended that the Apple executive succession plan be followed and Tim Cook be named as his successor. Per his request, Jobs was appointed chairman of Apple's board of directors. On October 5, 2011, Apple announced that Jobs had died. He was 56 years old. His aim, to develop products that are both functional and elegant, had earned him a devoted following.
Jobs was born in San Francisco and was adopted by Paul and Clara Jobs (née Hagopian) of Mountain View, California. Paul and Clara later adopted a daughter, Patti. Jobs' biological parents – Abdulfattah John Jandali, a Syrian immigrant to the U.S. who later became a political science professor, and Joanne Schieble (later Simpson), an American graduate student who went on to become a speech language pathologist – eventually married. Together, they gave birth to and raised Jobs' biological sister, novelist Mona Simpson.
Jobs attended Cupertino Junior High and Homestead High School in Cupertino, California. He frequented after-school lectures at the Hewlett-Packard Company in Palo Alto, California and was later hired there, working with Steve Wozniak as a summer employee. Following high school graduation in 1972, Jobs enrolled at Reed College in Portland, Oregon. Although he dropped out after only one semester, he continued auditing classes at Reed, while sleeping on the floor in friends' rooms, returning Coke bottles for food money, and getting weekly free meals at the local Hare Krishna temple. Jobs later said, "If I had never dropped in on that single calligraphy course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts."
In autumn 1974, Jobs returned to California and began attending meetings of the Homebrew Computer Club with Wozniak. He took a job as a technician at Atari, a manufacturer of popular video games, with the primary intent of saving money for a spiritual retreat to India.
Jobs then traveled to India to visit the Neem Karoli Baba at his Kainchi Ashram with a Reed College friend (and, later, the first Apple employee), Daniel Kottke, in search of spiritual enlightenment. He came back a Buddhist with his head shaved and wearing traditional Indian clothing. During this time, Jobs experimented with psychedelics, calling his LSD experiences "one of the two or three most important things [he had] done in [his] life". He later said that people around him who did not share his countercultural roots could not fully relate to his thinking.
Jobs returned to his previous job at Atari and was given the task of creating a circuit board for the game ''Breakout''. According to Atari founder Nolan Bushnell, Atari had offered $100 for each chip that was eliminated in the machine. Jobs had little interest or knowledge in circuit board design and made a deal with Wozniak to split the bonus evenly between them if Wozniak could minimize the number of chips. Much to the amazement of Atari, Wozniak reduced the number of chips by 50, a design so tight that it was impossible to reproduce on an assembly line. At the time, Jobs told Wozniak that Atari had only given them $700 (instead of the actual $5,000) and that Wozniak's share was thus $350.
In 1976, Steve Jobs, Steve Wozniak and Ronald Wayne, with later funding from a then-semi-retired Intel product-marketing manager and engineer A.C. "Mike" Markkula Jr., founded Apple. Prior to co-founding Apple, Wozniak was an electronics hacker. Jobs and Wozniak had been friends for several years, having met in 1971, when their mutual friend, Bill Fernandez, introduced 21-year-old Wozniak to 16-year-old Jobs. Steve Jobs managed to interest Wozniak in assembling a computer and selling it. As Apple continued to expand, the company began looking for an experienced executive to help manage its expansion.
In 1978, Apple recruited Mike Scott from National Semiconductor to serve as CEO for what turned out to be several turbulent years. In 1983, Steve Jobs lured John Sculley away from Pepsi-Cola to serve as Apple's CEO, asking, "Do you want to sell sugar water for the rest of your life, or do you want to come with me and change the world?" The following year, Apple aired a Super Bowl television commercial titled "1984". At Apple's annual shareholders meeting on January 24, 1984, an emotional Jobs introduced the Macintosh to a wildly enthusiastic audience; Andy Hertzfeld described the scene as "pandemonium". The Macintosh became the first commercially successful small computer with a graphical user interface. The development of the Mac was started by Jef Raskin, and eventually taken over by Jobs.
While Jobs was a persuasive and charismatic director for Apple, some of his employees from that time had described him as an erratic and temperamental manager. An industry-wide sales slump towards the end of 1984 caused a deterioration in Jobs's working relationship with Sculley, and at the end of May 1985 – following an internal power struggle and an announcement of significant layoffs because of disappointing sales at the time – Sculley relieved Jobs of his duties as head of the Macintosh division. He later claimed that being fired from Apple was the best thing that could happen to him; "The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life."
The NeXTcube was described by Jobs as an "interpersonal" computer, which he believed was the next step after "personal" computing. That is, if computers could allow people to communicate and collaborate together in an easy way, it would solve many of the problems that "personal" computing had come up against.
During a time when e-mail for most people was plain text, Jobs loved to demo the NeXT's e-mail system, NeXTMail, as an example of his "interpersonal" philosophy. NeXTMail was one of the first to support universally visible, clickable embedded graphics and audio within e-mail.
Jobs ran NeXT with an obsession for aesthetic perfection, as evidenced by such things as the NeXTcube's magnesium case. This put considerable strain on NeXT's hardware division, and in 1993, after having sold only 50,000 machines, NeXT transitioned fully to software development with the release of NeXTSTEP/Intel.
The new company, which was originally based at Lucasfilm's Kerner Studios in San Rafael, California, but has since relocated to Emeryville, California, was initially intended to be a high-end graphics hardware developer. After years of unprofitability selling the Pixar Image Computer, it contracted with Disney to produce a number of computer-animated feature films, which Disney would co-finance and distribute.
The first film produced by the partnership, ''Toy Story'', brought fame and critical acclaim to the studio when it was released in 1995. Over the next 15 years, under Pixar's creative chief John Lasseter, the company would produce the box-office hits ''A Bug's Life'' (1998), ''Toy Story 2'' (1999), ''Monsters, Inc.'' (2001), ''Finding Nemo'' (2003), ''The Incredibles'' (2004), ''Cars'' (2006), ''Ratatouille'' (2007), ''WALL-E'' (2008), ''Up'' (2009) and ''Toy Story 3'' (2010). ''Finding Nemo'', ''The Incredibles'', ''Ratatouille'', ''WALL-E'', ''Up'' and ''Toy Story 3'' each received the Academy Award for Best Animated Feature, an award introduced in 2001.
In the years 2003 and 2004, as Pixar's contract with Disney was running out, Jobs and Disney chief executive Michael Eisner tried but failed to negotiate a new partnership, and in early 2004 Jobs announced that Pixar would seek a new partner to distribute its films once its contract with Disney expired.
In October 2005, Bob Iger replaced Eisner at Disney, and Iger quickly worked to patch up relations with Jobs and Pixar. On January 24, 2006, Jobs and Iger announced that Disney had agreed to purchase Pixar in an all-stock transaction worth $7.4 billion. Once the deal closed, Jobs became The Walt Disney Company's largest single shareholder with approximately 7% of the company's stock. Jobs's holdings in Disney far exceed those of Eisner, who holds 1.7%, and of Disney family member Roy E. Disney, who until his 2009 death held about 1% of the company's stock and whose criticisms of Eisner – especially that he soured Disney's relationship with Pixar – accelerated Eisner's ousting. Jobs joined the company's board of directors upon completion of the merger. Jobs also helped oversee Disney and Pixar's combined animation businesses with a seat on a special six person steering committee.
In 1996, Apple announced that it would buy NeXT for $429 million. The deal was finalized in late 1996, bringing Jobs back to the company he had co-founded. Jobs became ''de facto'' chief after then-CEO Gil Amelio was ousted in July. He was formally named interim chief executive in September 1997. In March 1998, to concentrate Apple's efforts on returning to profitability, Jobs terminated a number of projects, such as Newton, Cyberdog, and OpenDoc. In the coming months, many employees developed a fear of encountering Jobs while riding in the elevator, "afraid that they might not have a job when the doors opened. The reality was that Jobs' summary executions were rare, but a handful of victims was enough to terrorize a whole company." Jobs also changed the licensing program for Macintosh clones, making it too costly for the manufacturers to continue making machines.
With the purchase of NeXT, much of the company's technology found its way into Apple products, most notably NeXTSTEP, which evolved into Mac OS X. Under Jobs's guidance the company increased sales significantly with the introduction of the iMac and other new products; since then, appealing designs and powerful branding have worked well for Apple. At the 2000 Macworld Expo, Jobs officially dropped the "interim" modifier from his title at Apple and became permanent CEO. Jobs quipped at the time that he would be using the title 'iCEO.'
The company subsequently branched out, introducing and improving upon other digital appliances. With the introduction of the iPod portable music player, iTunes digital music software, and the iTunes Store, the company made forays into consumer electronics and music distribution. On June 29, 2007, Apple entered the cellular phone business with the introduction of the iPhone, a multi-touch display cell phone, which also included the features of an iPod and, with its own mobile browser, revolutionized the mobile browsing scene. While stimulating innovation, Jobs also reminded his employees that "real artists ship", by which he meant that delivering working products on time is as important as innovation and attractive design.
Jobs was both admired and criticized for his consummate skill at persuasion and salesmanship, which has been dubbed the "reality distortion field" and was particularly evident during his keynote speeches (colloquially known as "Stevenotes") at Macworld Expos and at Apple's own Worldwide Developers Conferences.
In 2005, Jobs responded to criticism of Apple's poor recycling programs for e-waste in the U.S. by lashing out at environmental and other advocates at Apple's Annual Meeting in Cupertino in April. However, a few weeks later, Apple announced it would take back iPods for free at its retail stores. The Computer TakeBack Campaign responded by flying a banner from a plane over the Stanford University graduation at which Jobs was the commencement speaker. The banner read "Steve — Don't be a mini-player recycle all e-waste". In 2006, he further expanded Apple's recycling programs to any U.S. customer who buys a new Mac. This program includes shipping and "environmentally friendly disposal" of their old systems.
Jef Raskin, a former colleague, once said that Jobs "would have made an excellent king of France," alluding to Jobs' compelling and larger-than-life persona.
Jobs always aspired to position Apple and its products at the forefront of the information technology industry by foreseeing and setting trends, at least in innovation and style. He summed up that self-concept at the end of his keynote speech at the Macworld Conference and Expo in January 2007 by quoting ice hockey legend Wayne Gretzky:
Floyd Norman said that at Pixar, Jobs was a "mature, mellow individual" and never interfered with the creative process of the filmmakers.
In 2005, Steve Jobs banned all books published by John Wiley & Sons from Apple Stores in response to their publishing an unauthorized biography, ''iCon: Steve Jobs''. In its 2010 annual earnings report, Wiley said it had "closed a deal ... to make its titles available for the iPad."
In the unauthorized biography, ''The Second Coming of Steve Jobs,'' author Alan Deutschman reports that Jobs once dated Joan Baez. Deutschman quotes Elizabeth Holmes, a friend of Jobs from his time at Reed College, as saying she "believed that Steve became the lover of Joan Baez in large measure because Baez had been the lover of Bob Dylan." In another unauthorized biography, ''iCon: Steve Jobs'' by Jeffrey S. Young & William L. Simon, the authors suggest that Jobs might have married Baez, but her age at the time (41) meant it was unlikely the couple could have children.
Jobs was also a fan of The Beatles. He referred to them on multiple occasions at Keynotes and also was interviewed on a showing of a Paul McCartney concert. When asked about his business model on ''60 Minutes'', he replied:
In 1982, Jobs bought an apartment in The San Remo, an apartment building in New York City with a politically progressive reputation, where Demi Moore, Steven Spielberg, Steve Martin, and Princess Yasmin Aga Khan, daughter of Rita Hayworth, also had apartments. With the help of I.M. Pei, Jobs spent years renovating his apartment in the top two floors of the building's north tower, only to sell it almost two decades later to U2 singer Bono. Jobs had never moved in.
In 1984, Jobs purchased a , 14-bedroom Spanish Colonial mansion, designed by George Washington Smith, in Woodside, California (also known as Jackling House). Although it reportedly remained in an almost unfurnished state, Jobs lived in the mansion for almost ten years. According to reports, he kept an old BMW motorcycle in the living room, and let Bill Clinton use it in 1998. From the early 1990s, Jobs lived in a house in the Old Palo Alto neighborhood of Palo Alto. President Clinton dined with Jobs and 14 Silicon Valley CEOs there on August 7, 1996 on a meal catered by Greens Restaurant. Clinton returned the favor and Jobs, who was a Democratic donor, slept in the Lincoln bedroom of the White House.
Jobs allowed Jackling House to fall into a state of disrepair, planning to demolish the house and build a smaller home on the property; but he met with complaints from local preservationists over his plans. In June 2004, the Woodside Town Council gave Jobs approval to demolish the mansion, on the condition that he advertise the property for a year to see if someone would move it to another location and restore it. A number of people expressed interest, including several with experience in restoring old property, but no agreements to that effect were reached. Later that same year, a local preservationist group began seeking legal action to prevent demolition. In January 2007 Jobs was denied the right to demolish the property, by a court decision. The court decision was overturned on appeal in March 2010 and the mansion was demolished beginning February 2011.
Jobs usually wore a black long-sleeved mock turtleneck made by St. Croix, Levi's 501 blue jeans, and New Balance 991 sneakers. He was a pescetarian, one whose diet includes fish but no other meat.
His car was a silver 2008 Mercedes SL 55 AMG, which does not display its license plates.
Jobs had a public war of words with Dell Computer CEO Michael Dell, starting when Jobs first criticized Dell for making "un-innovative beige boxes". On October 6, 1997, in a Gartner Symposium, when Michael Dell was asked what he would do if he owned then-troubled Apple Computer, he said "I'd shut it down and give the money back to the shareholders." In 2006, Steve Jobs sent an email to all employees when Apple's market capitalization rose above Dell's. The email read:
In early August 2006, Jobs delivered the keynote for Apple's annual Worldwide Developers Conference. His "thin, almost gaunt" appearance and unusually "listless" delivery, together with his choice to delegate significant portions of his keynote to other presenters, inspired a flurry of media and Internet speculation about his health. In contrast, according to an ''Ars Technica'' journal report, WWDC attendees who saw Jobs in person said he "looked fine". Following the keynote, an Apple spokesperson said that "Steve's health is robust."
Two years later, similar concerns followed Jobs' 2008 WWDC keynote address. Apple officials stated Jobs was victim to a "common bug" and was taking antibiotics, while others surmised his cachectic appearance was due to the Whipple procedure. During a July conference call discussing Apple earnings, participants responded to repeated questions about Steve Jobs' health by insisting that it was a "private matter". Others, however, voiced the opinion that shareholders had a right to know more, given Jobs' hands-on approach to running his company. The ''New York Times'' published an article based on an off-the-record phone conversation with Jobs, noting that "while his health issues have amounted to a good deal more than 'a common bug,' they weren't life-threatening and he doesn't have a recurrence of cancer."
On August 28, 2008, Bloomberg mistakenly published a 2500-word obituary of Jobs in its corporate news service, containing blank spaces for his age and cause of death. (News carriers customarily stockpile up-to-date obituaries to facilitate news delivery in the event of a well-known figure's untimely death.) Although the error was promptly rectified, many news carriers and blogs reported on it, intensifying rumors concerning Jobs' health. Jobs responded at Apple's September 2008 ''Let's Rock'' keynote by quoting Mark Twain: "Reports of my death are greatly exaggerated." At a subsequent media event, Jobs concluded his presentation with a slide reading "110/70", referring to his blood pressure, stating he would not address further questions about his health.
On December 16, 2008, Apple announced that marketing vice-president Phil Schiller would deliver the company's final keynote address at the Macworld Conference and Expo 2009, again reviving questions about Jobs' health. In a statement given on January 5, 2009 on Apple.com, Jobs said that he had been suffering from a "hormone imbalance" for several months. On January 14, 2009, in an internal Apple memo, Jobs wrote that in the previous week he had "learned that my health-related issues are more complex than I originally thought" and announced a six-month leave of absence until the end of June 2009 to allow him to better focus on his health. Tim Cook, who had previously acted as CEO in Jobs' 2004 absence, became acting CEO of Apple, with Jobs still involved with "major strategic decisions."
In April 2009, Jobs underwent a liver transplant at Methodist University Hospital Transplant Institute in Memphis, Tennessee. Jobs' prognosis was "excellent".
On January 17, 2011, a year and a half after Jobs returned from his liver transplant, Apple announced that he had been granted a medical leave of absence. Jobs announced his leave in a letter to employees, stating his decision was made "so he could focus on his health". As during his 2009 medical leave, Apple announced that Tim Cook would run day-to-day operations and that Jobs would continue to be involved in major strategic decisions at the company. Despite the leave, he made appearances at the iPad 2 launch event (March 2), the WWDC keynote introducing iCloud (June 6), and before the Cupertino city council (June 7).
Jobs announced his resignation from his role as Apple's CEO on August 24, 2011. In his resignation letter, Jobs wrote that he could "no longer meet [his] duties and expectations as Apple's CEO".
On October 5, 2011, his family, in a statement, said Jobs "died peacefully today surrounded by his family . . ."
Apple released a separate statement saying that Jobs had died. The statement read "We are deeply saddened to announce that Steve Jobs passed away today. Steve's brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives. The world is immeasurably better because of Steve. His greatest love was for his wife, Laurene, and his family. Our hearts go out to them and to all who were touched by his extraordinary gifts."
Also on October 5, 2011, Apple's corporate website greeted visitors with a simple page showing Jobs's name and lifespan next to his greyscale portrait. Clicking on Jobs's image led to an obituary that read "Apple has lost a visionary and creative genius, and the world has lost an amazing human being. Those of us who have been fortunate enough to know and work with Steve have lost a dear friend and an inspiring mentor. Steve leaves behind a company that only he could have built, and his spirit will forever be the foundation of Apple." An email address was also posted for the public to share their memories, condolences, and thoughts.
Jobs is survived by his wife, Laurene, to whom he was married for 20 years, their three children, and a fourth child, Lisa Brennan-Jobs, from a previous relationship.
Excerpts from President Barack Obama's statement:
Steve was among the greatest of American innovators - brave enough to think differently, bold enough to believe he could change the world, and talented enough to do it. By building one of the planet’s most successful companies from his garage, he exemplified the spirit of American ingenuity. By making computers personal and putting the internet in our pockets, he made the information revolution not only accessible, but intuitive and fun. And by turning his talents to storytelling, he has brought joy to millions of children and grownups alike. Steve was fond of saying that he lived every day like it was his last. Because he did, he transformed our lives, redefined entire industries, and achieved one of the rarest feats in human history: he changed the way each of us sees the world.
Bill Gates released a statement saying:
I'm truly saddened to learn of Steve Jobs' death. Melinda and I extend our sincere condolences to his family and friends, and to everyone Steve has touched through his work. Steve and I first met nearly 30 years ago, and have been colleagues, competitors and friends over the course of more than half our lives. The world rarely sees someone who has had the profound impact Steve has had, the effects of which will be felt for many generations to come. For those of us lucky enough to get to work with him, it's been an insanely great honor. I will miss Steve immensely.
Walt Disney Company president Bob Iger said in regards to Jobs:
Steve Jobs was a great friend as well as a trusted advisor. His legacy will extend far beyond the products he created or the businesses he built. It will be the millions of people he inspired, the lives he changed, and the culture he defined. Steve was such an "original," with a thoroughly creative, imaginative mind that defined an era. Despite all he accomplished, it feels like he was just getting started. With his passing the world has lost a rare original, Disney has lost a member of our family, and I have lost a great friend. Our thoughts and prayers are with his wife Laurene and his children during this difficult time.
Mark Zuckerberg wrote on his Facebook page:
Steve, thank you for being a mentor and a friend. Thanks for showing that what you build can change the world. I will miss you.
American director Steven Spielberg said: "Steve Jobs was the greatest inventor since Thomas Edison. He put the world at our fingertips."
Microsoft Co-founder Paul Allen said: "We've lost a unique tech pioneer and auteur who knew how to make amazingly great products. Steve fought a long battle against tough odds in a very brave way. He kept doing amazing things in the face of all that adversity. As someone who has had his own medical challenges, I couldn't help but be encouraged by how he persevered."
Apple Co-founder Steve Wozniak said : "People sometimes have goals in life. Steve Jobs exceeded every goal he set himself."
In August 2009, Jobs was selected as the most admired entrepreneur among teenagers in a survey by Junior Achievement. On November 5, 2009, Jobs was named the CEO of the decade by ''Fortune Magazine''. In September 2011, Jobs was ranked No.17 on Forbes: The World's Most Powerful People. In December 2010, the ''Financial Times'' named Jobs its person of the year for 2010, ending its essay by stating, "In his autobiography, John Sculley, the former PepsiCo executive who once ran Apple, said this of the ambitions of the man he had pushed out: 'Apple was supposed to become a wonderful consumer products company. This was a lunatic plan. High-tech could not be designed and sold as a consumer product.' How wrong can you be".
After his resignation as Apple's CEO, Jobs was characterized as the Thomas Edison and Henry Ford of his time.
Category:1955 births Category:2011 deaths Category:American adoptees Category:American billionaires Category:American chief executives Category:American people of Syrian descent Category:American Zen Buddhists Category:Apple Inc. employees Category:Articles with inconsistent citation formats Category:Businesspeople from California Category:Businesspeople in software Category:Computer designers Category:Computer pioneers Category:Disney people Category:Internet pioneers Category:National Medal of Technology recipients Category:NeXT Category:Organ transplant recipients Category:People from the San Francisco Bay Area Category:Pescetarians Category:Reed College alumni
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Coordinates | 12°58′0″N77°34′0″N |
---|---|
name | Warren Buffett |
birth name | Warren Edward Buffett |
birth date | August 30, 1930 |
birth place | Omaha, Nebraska, U.S. |
nationality | American |
alma mater | University of NebraskaColumbia Business School |
occupation | Businessman, Investor |
salary | US$100,000 |
networth | US$50 billion (2011) |
spouse | Susan Thompson Buffett (1952–2004)Astrid Menks (2006–present) |
children | Susan Alice BuffettHoward Graham BuffettPeter Andrew Buffett |
signature | Warren Buffett Signature.svg }} |
Warren Edward Buffett (; born August 30, 1930) is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is consistently ranked among the world's wealthiest people. He was ranked as the world's wealthiest person in 2008 and is the third wealthiest person in the world as of 2011.
Buffett is called the "Oracle of Omaha" or the "Sage of Omaha" and is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth. Buffett is also a notable philanthropist, having pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Gates Foundation. He also serves as a member of the board of trustees at Grinnell College.
Even as a child, Buffett displayed an interest in making and saving money. He went door to door selling chewing gum, Coca-Cola, or weekly magazines. For a while, he worked in his grandfather's grocery store. While still in high school he was successful in making money by delivering newspapers, selling golfballs and stamps, and detailing cars, among other means. Filing 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, in his sophomore year of high school, 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 different barber shops.
Buffett's interest in the stock market and investing also dated to his childhood, to the days he spent in the customers' lounge of a regional stock brokerage near the office of his father's own brokerage company. On a trip to New York City at the age of ten, he made a point to visit the New York Stock Exchange. At the age of 11, he bought three shares of Cities Service Preferred for himself, and three for his sister. While in high school he invested in a business owned by his father and bought a farm worked by a tenant farmer. By the time he finished college, Buffett had accumulated more than $90,000 in savings measured in 2009 dollars.
Buffett entered college as a freshmen in 1947 at the Wharton Business School of the University of Pennsylvania and studied there for two years from 1947 to 1949. In the year 1950, when he entered his junior year, he transferred to the University of Nebraska–Lincoln where at the age of nineteen, he graduated with a degree of Bachelor of Science in Business Administration. After the completion of his undergraduate studies, Buffett enrolled at Columbia Business School after learning that Benjamin Graham (author of "The Intelligent Investor" – one of his favorite books on investing) and David Dodd, two well-known securities analysts, taught there. He received a M.S. in Economics from Columbia Business School in 1951. Buffett also attended the New York Institute of Finance. In Buffett’s own words:
The basic ideas of investing are to look at stocks as business, use the market's fluctuations to your advantage, and seek a margin of safety. That’s what Ben Graham taught us. A hundred years from now they will still be the cornerstones of investing.}}
Warren Buffett was employed from 1951–54 at ''Buffett-Falk & Co.'', Omaha as an investment salesman, from 1954–1956 at ''Graham-Newman Corp.'', New York as a securities analyst, from 1956–1969 at ''Buffett Partnership, Ltd.'', Omaha as a general partner and from 1970 – Present at Berkshire Hathaway Inc, Omaha as its Chairman, CEO.
In 1950, at the age of 20, Buffett had made and saved $9,800. In April 1952, Buffett discovered Graham was on the board of GEICO insurance. Taking a train to Washington, D.C. on a Saturday, he knocked on the door of GEICO's headquarters until a janitor allowed him in. There he met Lorimer Davidson, Geico's Vice President, and the two discussed the insurance business for hours. Davidson would eventually become Buffett's life-long friend and a lasting influence and later recall that he found Buffett to be an "extraordinary man" after only fifteen minutes. Buffett graduated from Columbia and wanted to work on Wall Street, however, both his father and Ben Graham urged him not to. He offered to work for Graham for free, but Graham refused.
Buffett returned to Omaha and worked as a stockbroker while taking a Dale Carnegie public speaking course. Using what he learned, he felt confident enough to teach an "Investment Principles" night class at the University of Nebraska-Omaha. The average age of his students was more than twice his own. During this time he also purchased a Sinclair Texaco gas station as a side investment. However, this did not turn out to be a successful business venture.
In 1952 Buffett married Susan Thompson at Dundee Presbyterian Church and the next year they had their first child, Susan Alice Buffett. In 1954, Buffett accepted a job at Benjamin Graham's partnership. His starting salary was $12,000 a year (approximately $97,000 adjusted to 2008 dollars). There he worked closely with Walter Schloss. Graham was a tough man to work for. He was adamant that stocks provide a wide margin of safety after weighting the trade-off between their price and their intrinsic value. The argument made sense to Buffett but he questioned whether the criteria were too stringent and caused the company to miss out on big winners that had more qualitative values. That same year the Buffetts had their second child, Howard Graham Buffett. In 1956, Benjamin Graham retired and closed his partnership. At this time Buffett's personal savings were over $174,000 ($1.2 million inflation adjusted to 2009 dollars) and he started Buffett Partnership Ltd., an investment partnership in Omaha.
In 1957, Buffett had three partnerships operating the entire year. He purchased a five-bedroom stucco house in Omaha, where he still lives, for $31,500. In 1958 the Buffett's third child, Peter Andrew Buffett, was born. Buffett operated five partnerships the entire year. In 1959, the company grew to six partnerships operating the entire year and Buffett was introduced to Charlie Munger. By 1960, Buffett had seven partnerships operating: Buffett Associates, Buffett Fund, Dacee, Emdee, Glenoff, Mo-Buff and Underwood. He asked one of his partners, a doctor, to find ten other doctors willing to invest $10,000 each in his partnership. Eventually eleven agreed, and Buffett pooled their money with a mere $100 original investment of his own. In 1961, Buffett revealed that Sanborn Map Company accounted for 35% of the partnership's assets. He explained that in 1958 Sanborn stock sold at only $45 per share when the value of the Sanborn investment portfolio was $65 per share. This meant that buyers valued Sanborn stock at "minus $20" per share and were unwilling to pay more than 70 cents on the dollar for an investment portfolio with a map business thrown in for nothing. This earned him a spot on the board of Sanborn.
In a second letter, Buffett announced his first investment in a private business — Hochschild, Kohn and Co, a privately owned Baltimore department store. In 1967, Berkshire paid out its first and only dividend of 10 cents. In 1969, following his most successful year, Buffett liquidated the partnership and transferred their assets to his partners. Among the assets paid out were shares of Berkshire Hathaway. In 1970, as chairman of Berkshire Hathaway, Buffett began writing his now-famous annual letters to shareholders. However, he lived solely on his salary of $50,000 per year, and his outside investment income. In 1979, Berkshire began the year trading at $775 per share, and ended at $1,310. Buffett's net worth reached $620 million, placing him on the Forbes 400 for the first time.
In 1973, Berkshire began to acquire stock in the Washington Post Company. Buffett became close friends with Katharine Graham, who controlled the company and its flagship newspaper, and became a member of its board of directors. In 1974, the SEC opened a formal investigation into Warren Buffett and Berkshire's acquisition of WESCO, due to possible conflict of interest. No charges were brought. In 1977, Berkshire indirectly purchased the ''Buffalo Evening News'' for $32.5 million. Antitrust charges started, instigated by its rival, the ''Buffalo Courier-Express''. Both papers lost money, until the ''Courier-Express'' folded in 1982.
In 1979, Berkshire began to acquire stock in ABC. Capital Cities announced $3.5 billion purchase of ABC on March 18, 1985 surprised the media industry, as ABC was four times bigger than Capital Cities at the time. Berkshire Hathaway chairman Warren Buffett helped finance the deal in return for a 25% stake in the combined company. The newly merged company, known as Capital Cities/ABC (or CapCities/ABC), was forced to sell off some stations due to FCC ownership rules. Also, the two companies owned several radio stations in the same markets.
In 1987, Berkshire Hathaway purchased a 12% stake in Salomon Inc., making it the largest shareholder and Buffett the director. In 1990, a scandal involving John Gutfreund (former CEO of Salomon Brothers) surfaced. A rogue trader, Paul Mozer, was submitting bids in excess of what was allowed by the Treasury rules. When this was discovered and brought to the attention of Gutfreund, he did not immediately suspend the rogue trader. Gutfreund left the company in August 1991. Buffett became Chairman of Salomon until the crisis passed; on September 4, 1991, he testified before Congress. In 1988, Buffett began buying stock in Coca-Cola Company, eventually purchasing up to 7% of the company for $1.02 billion. It would turn out to be one of Berkshire's most lucrative investments, and one which it still holds.
In 2002, Buffett entered in $11 billion worth of forward contracts to deliver U.S. dollars against other currencies. By April 2006, his total gain on these contracts was over $2 billion. In 2006, Buffett announced in June that he gradually would give away 85% of his Berkshire holdings to five foundations in annual gifts of stock, starting in July 2006. The largest contribution would go to the Bill and Melinda Gates Foundation. In 2007, in a letter to shareholders, Buffett announced that he was looking for a younger successor, or perhaps successors, to run his investment business. Buffett had previously selected Lou Simpson, who runs investments at Geico, to fill that role. However, Simpson is only six years younger than Buffett.
Berkshire Hathaway acquired 10% perpetual preferred stock of Goldman Sachs. Some of Buffett's Index put options (European exercise at expiry only) that he wrote (sold) are currently running around $6.73 billion mark-to-market losses. The scale of the potential loss prompted the SEC to demand that Berkshire produce, "a more robust disclosure" of factors used to value the contracts. Buffett also helped Dow Chemical pay for its $18.8 billion takeover of Rohm & Haas. He thus became the single largest shareholder in the enlarged group with his Berkshire Hathaway, which provided $3 billion, underlining his instrumental role during the current crisis in debt and equity markets.
In 2008, Buffett became the richest man in the world dethroning Bill Gates, worth $62 billion according to Forbes, and $58 billion according to Yahoo. Bill Gates had been number one on the Forbes list for 13 consecutive years. In 2009, Bill Gates regained number one of the list according to Forbes magazine, with Buffett second. Their values have dropped to $40 billion and $37 billion respectively, Buffett having (according to Forbes) lost $25 billion in 12 months during 2008/2009.
In October 2008, the media reported that Warren Buffett had agreed to buy General Electric (GE) preferred stock. The operation included extra special incentives: he received an option to buy 3 billion GE at $22.25 in the next five years, and also received a 10% dividend (callable within three years). In February 2009, Buffett sold some of the Procter & Gamble Co, and Johnson & Johnson shares from his portfolio.
In addition to suggestions of mistiming, questions have been raised as to the wisdom in keeping some of Berkshire's major holdings, including The Coca-Cola Company (NYSE:KO) which in 1998 peaked at $86. Buffett discussed the difficulties of knowing when to sell in the company's 2004 annual report:
That may seem easy to do when one looks through an always-clean, rear-view mirror. Unfortunately, however, it’s the windshield through which investors must peer, and that glass is invariably fogged.In March 2009, Buffett stated in a cable television interview that the economy had "fallen off a cliff... Not only has the economy slowed down a lot, but people have really changed their habits like I haven't seen". Additionally, Buffett fears we may revisit a 1970s level of inflation, which led to a painful stagflation that lasted many years.
In 2009, Warren Buffett invested $2.6 billion as a part of Swiss Re's raising equity capital. Berkshire Hathaway already owns a 3% stake, with rights to own more than 20%. In 2009, Warren Buffett acquired Burlington Northern Santa Fe Corp. for $34 billion in cash and stock. Alice Schroeder, author of Snowball, stated that a reason for the purchase was to diversify Berkshire Hathaway from the financial industry. Measured by market capitalization in the Financial Times Global 500 Berkshire Hathaway as of June 2009 was the eighteenth largest corporation on earth.
In 2009, Buffett divested his failed investment in ConocoPhillips, saying to his Berkshire investors,
I bought a large amount of ConocoPhillips stock when oil and gas prices were near their peak. I in no way anticipated the dramatic fall in energy prices that occurred in the last half of the year. I still believe the odds are good that oil sells far higher in the future than the current $40–$50 price. But so far I have been dead wrong. Even if prices should rise, moreover, the terrible timing of my purchase has cost Berkshire several billion dollars.
The merger with the Burlington Northern Santa Fe Railway (BNSF) closed upon BNSF shareholder approval in 1Q2010. This deal is valued at approximately $34 billion and reflects an increase of a previously existing stake of about 22%.
In June 2010, Buffett defended the credit rating agencies for their role in the US financial crisis, claiming that:
Very, very few people could appreciate the bubble. That's the nature of bubbles – they're mass delusions.
On March 18, 2011, Goldman Sachs acquired Federal Reserve approval to buy back Berkshire's preferred stock in Goldman. Buffet has been reluctant to give up the stock which averages $1.4 million in dividend a day, stating:
I'm going to be the Osama bin Laden of capitalism. I'm on my way to an unknown destination in Asia where I'm going to look for a cave. If the U.S. Armed forces can't find Osama bin Laden in 10 years, let Goldman Sachs try to find me.
Warren Buffett disowned his son Peter's adopted daughter, Nicole, in 2006 after she participated in the Jamie Johnson documentary, ''The One Percent.'' Although his first wife had 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." He signed the letter "Warren."
His 2006 annual salary was about $100,000, which is small compared to senior executive remuneration in comparable companies. In 2007 and 2008, he earned a total compensation of $175,000, which included a base salary of just $100,000. He lives in the same house in the central Dundee neighborhood of Omaha that he bought in 1958 for $31,500, today valued at around $700,000 (although he also owns a $4 million house in Laguna Beach, California). In 1989 after having spent nearly 6.7 million dollars of Berkshire's funds on a private jet, Buffett sheepishly 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.
He remains an avid player of bridge, which he learned from Sharon Osberg, and plays with her and Bill Gates. He spends twelve 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, and in the same city, a team of twelve bridge players from the United States took on twelve Europeans in the event. 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.
Warren Buffett worked with Christopher Webber on an animated series with chief Andy Heyward, of DiC Entertainment, and then A Squared Entertainment. The series features Buffett and Munger, and teaches children healthy financial habits for life. Buffett was raised Presbyterian but has since described himself as agnostic. In December 2006 it was reported that Buffett does not carry a cell phone, does not have a computer at his desk, and drives his own automobile, a Cadillac DTS. Buffett wears tailor-made suits from the Chinese label Trands; earlier he wore Ermenegildo Zegna.
In his article ''The Superinvestors of Graham-and-Doddsville'', Buffett rebutted the academic Efficient-market hypothesis, that beating the S&P; 500 was "pure chance", by highlighting the results achieved by a number of students of the Graham and Dodd value investing school of thought. In addition to himself, Buffett named Walter J. Schloss, Tom Knapp, Ed Anderson (Tweedy, Brown Inc.), Bill Ruane (Sequoia Fund, Inc.), Charles Munger (Buffett's own business partner at Berkshire), Rick Guerin (Pacific Partners, Ltd.), and Stan Perlmeter (Perlmeter Investments). In his November 1999 ''Fortune'' article, he warned of investors' unrealistic expectations:
From a ''NY Times'' article: "I don't believe in dynastic wealth", Warren Buffett said, calling those who grow up in wealthy circumstances "members of the lucky sperm club". 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. This is consistent with statements he has made in the past indicating his opposition to the transfer of great fortunes from one generation to the next. Buffett 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".
In June 2006, he announced a plan to give away his fortune to charity, with 83% of it going 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 US$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 donation on an annualised basis each July, beginning in 2006. (Significantly, however, 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 also will join the board of directors of the Gates Foundation, although he does not plan to be actively involved in the foundation's investments.
This is a significant shift from previous statements Buffett has made, having stated 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 to that foundation when she died in 2004. He also pledged $50-million to the Nuclear Threat Initiative, in Washington, where he has served as an adviser since 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 a charity. On June 27, 2008, Zhao Danyang, a general manager at Pure Heart China Growth Investment Fund, won the 2008 5-day online "Power Lunch with Warren Buffett" charity auction with a bid of $2,110,100. Auction proceeds benefit the San Francisco Glide Foundation. The following year, executives from Toronto-based Salida Capital paid US$1.68 million to dine with Buffett.
In a letter to Fortune Magazine's website in 2010 Buffett remarked:
This statement was made as part of a joint proposal with Bill Gates to encourage other wealthy individuals to pool some of their fortunes for charitable purposes.
Bill Gates's wife Melinda urged people to learn a lesson from the philanthropic efforts of the family that sold its home and gave away half of its value, as detailed in ''The Power of Half''. On December 9, 2010, Buffett, Bill Gates, and Mark Zuckerberg (Facebook's CEO), signed a promise they called the "Gates-Buffett Giving Pledge", in which they promised to donate to charity at least half of their wealth over time, and invited others among the wealthy to donate 50% or more of their wealth to charity.
Speaking at Berkshire Hathaway Inc.'s 1994 annual meeting, Buffett said investments in tobacco are:
Americans ... would chafe at the idea of perpetually paying tribute to their creditors and owners abroad. A country that is now aspiring to an ‘ownership society’ will not find happiness in – and I’ll use hyperbole here for emphasis – a 'sharecropping society’.Author Ann Pettifor has adopted the image in her writings and has stated: "He is right. And so the thing we must fear most now, is not just the collapse of banks and investment funds, or of the international financial architecture, but of a 'sharecropper society, angry at its downfall".
It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.In 1977 Buffett was also quoted as saying about stocks, gold, farmland, and inflation:
Stocks are probably still the best of all the poor alternatives in an era of inflation – at least they are if you buy in at appropriate prices.
: “There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.”
Buffett favors the inheritance tax, saying that repealing it would be like "choosing the 2020 Olympic team by picking the eldest sons of the gold-medal winners in the 2000 Olympics". In 2007, Buffett testified before the Senate and urged them to preserve the estate tax so as to avoid a plutocracy. Some critics have argued that Buffett (through Berkshire Hathaway) has a personal interest in the continuation of the estate tax, since Berkshire Hathaway has benefited from the estate tax in past business dealings and had developed and marketed insurance policies to protect policy holders against future estate tax payments. Buffett believes government should not be in the business of gambling, or legalizing casinos, calling it a tax on ignorance.
When a company gives something of value to its employees in return for their services, it is clearly a compensation expense. And if expenses don't belong in the earnings statement, where in the world do they belong?
In October 2008, Buffett invested in new energy automobile business by paying $230 million for 10% of BYD Company (), which runs a subsidiary of electric automobile manufacturer BYD Auto. In less than one year, the investment has reaped him over 500% return of profit.
Some best-selling, or otherwise notable, books about Buffett:
Category:1930 births Category:Living people Category:American agnostics Category:American billionaires Category:American businesspeople Category:American insurance businesspeople Category:American chief executives Category:American financiers Category:American investors Category:American money managers Category:American philanthropists Category:Berkshire Hathaway Category:Bill & Melinda Gates Foundation people Category:Businesspeople from Omaha, Nebraska Category:Businesspeople in the insurance industry Category:Columbia Business School alumni Category:Equity securities Category:Grinnell College people Category:Nebraska Democrats Category:Stock traders Category:Wharton School alumni Category:University of Nebraska–Lincoln alumni Category:Presidential Medal of Freedom recipients Category:Buffett family
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Coordinates | 12°58′0″N77°34′0″N |
---|---|
name | Jerry Seinfeld |
birth name | Jerome Allen Seinfeld |
birth date | April 29, 1954 |
birth place | Brooklyn, New York, U.S. |
height | 5 ft 10 in (1.78 m) |
medium | Television, Film, Stand up |
nationality | American |
active | 1976–present |
genre | Observational comedy, Political satire, Black comedy |
subject | Avant-garde, American culture, Human behavior, American Politics, Gender differences, Everyday life |
influences | Bill Cosby, George Carlin, Robert Klein, Abbott and Costello, Jean Shepherd, Michael Gough, Pat Hingle, Don Rickles, Ricardo Montalban |
influenced | Carol Leifer, Ricky Gervais, Mitch Hedberg, Kevin Bridges |
spouse | Jessica Seinfeld(1999–present),3 children |
notable work | Jerry Seinfeld on ''Seinfeld |
signature | Seinfeldsignature.svg |
In his first major foray back into the media since the finale of ''Seinfeld'', he co-wrote and co-produced the film ''Bee Movie'', also taking on the lead role of Barry B. Benson. In February 2010, Seinfeld premiered a reality TV series called ''The Marriage Ref'' on NBC. Seinfeld was more recently directing Colin Quinn in the Broadway show Long Story Short at the Helen Hayes Theater in New York which ran until January 8, 2011.
Seinfeld grew up in Massapequa, New York. In September 1959, his mother enrolled him at Birch Lane Elementary School, Massapequa High School. At the age of 16, he spent a short period of time volunteering in Kibbutz Sa'ar in Israel. He went to SUNY Oswego, and after his sophomore year he transferred to Queens College, City University of New York, graduating with a degree in communications and theater.
Seinfeld developed an interest in stand-up comedy after brief stints in college productions. In 1976 after graduation from Queens College, he tried out at an open-mic night at New York City's Catch a Rising Star, which led to an appearance in a Rodney Dangerfield HBO special. In 1979 he had a small recurring role on the ''Benson'' sitcom as "Frankie", a mail delivery boy who had comedy routines that no one wanted to hear, but he was abruptly fired from the show due to creative differences. Seinfeld has said that he was not actually told he had been fired until he turned up for the read-through session for an episode, and found that there was no script for him (Interview in "How It Began," a special feature in the Seinfeld Season 1 & 2 DVD). In May 1981 Seinfeld made a highly successful appearance on ''The Tonight Show Starring Johnny Carson'', impressing Carson and the audience and leading to regular appearances on that show and others, including ''Late Night with David Letterman''.
In the late 1990s, Apple Computer came up with an advertising slogan called "Think different" and produced a 60-second commercial to promote the slogan which showed people who were able to "think differently", like Albert Einstein, Mahatma Gandhi, Martin Luther King and many others. This commercial was later cut short to thirty seconds and ended up paying tribute to Jerry Seinfeld. This commercial aired only once, during the series finale of ''Seinfeld''.
In 2004, Seinfeld also appeared in two commercial webisodes promoting American Express, entitled ''The Adventures of Seinfeld & Superman'', in which he appeared together with an animated rendering of Superman, who was referenced in numerous episodes of ''Seinfeld'' as Seinfeld's hero, voiced by Patrick Warburton, who had portrayed David Puddy on ''Seinfeld''. The webisodes were aired in 2004 and directed by Barry Levinson. Seinfeld and "Superman" were also interviewed by Matt Lauer in a specially-recorded interview for the ''Today'' show.
On November 18, 2004, Seinfeld appeared at the National Museum of American History to donate the "Puffy Shirt" he wore in the famous ''Seinfeld'' episode of the same name. He also gave a speech when presenting the "Puffy Shirt", claiming humorously that "This is the most embarrassing moment of my life."
Seinfeld had a special appearance on May 13, 2006, ''Saturday Night Live'' episode as Julia Louis-Dreyfus' assassin. Louis-Dreyfus was the host of that episode and in her opening monologue she mentioned the "Seinfeld Curse". While talking about how ridiculous the "curse" was, a stage light suddenly fell next to her. The camera moved to a catwalk above the stage that Seinfeld was standing on, holding a large pair of bolt cutters. He angrily muttered, "Dammit!", angry that it didn't hit her. Louis-Dreyfus then continued to say that she is indeed not cursed.
On October 4, 2007, Seinfeld made a brief return to NBC, guest-starring in the episode "SeinfeldVision" of ''30 Rock'' as himself.
Amidst his spring 2008 tour Seinfeld made a stop in his hometown of New York City for a one-night-only performance on June 2, 2008 at the Hammerstein Ballroom to benefit ''Stand Up for a Cure'', a charity aiding lung cancer research at Memorial Sloan-Kettering Cancer Center.
In August 2008 the Associated Press reported that Jerry Seinfeld would be the pitchman for Windows Vista, as part of a $300 million advertising campaign by Microsoft. The adverts, which were intended to create buzz for Windows in support of the subsequent "I'm a PC" adverts, began airing in mid-September 2008 and were cut from television after just 3 installments, Microsoft opting instead to continue with the "I'm a PC" advertisements, and instead continued running the Seinfeld adverts on the Microsoft website as a series of longer advertisements.
Seinfeld appeared on an episode of the Starz original series ''Head Case''. Like many of his previous guest appearances on sitcoms he played himself.
In Australia, Seinfeld appears on a series of advertisements for Greater Building Society, a building society based in New South Wales and south eastern Queensland. His appearance in these adverts were highly publicized and considered a coup for the society, being only the third time Seinfeld had appeared in a television commercial. The adverts were filmed in Cedarhurst, Long Island, with the street designed to emulate Beaumont Street in Hamilton, where the Greater's head offices are located. Seinfeld also wrote the scripts for the fifteen advertisements that were filmed. The adverts largely aired in the Northern New South Wales television market, where the society has most of its branches.
Seinfeld was the first guest of Jay Leno's new talk show, ''The Jay Leno Show'', which premiered on September 14, 2009.
Seinfeld toured the U.S. in 2011 and made his first appearance on stage in the U.K. in 13 years. In July 2011, he was a surprise guest on The Daily Show, helping Jon Stewart to suppress his urge to tell "cheap" "Michele Bachmann's husband acts gay" jokes. He also launched a personal archives website at JerrySeinfeld.com. In 2011 he also appeared in the HBO Special 'Talking Funny' with fellow comedians Chris Rock, Louis C.K. and Ricky Gervais.
In 2002, he wrote a children's book titled ''Halloween''. The book was illustrated by James Bennett. There are also several books about both the sitcom and Seinfeld himself, though many of them are not written by Seinfeld.
Seinfeld wrote the forewords to Ted L. Nancy's ''Letters from a Nut'' series of books and Ed Broth's ''Stories from a Moron''. Both authors were rumored to be pseudonyms for Seinfeld or a friend of his. Neither Nancy nor Broth have been seen publicly, although Seinfeld is heavily involved in pitching their books for television.
In promoting Broth's book, Seinfeld hosted a toast in the author's honor. Broth did not attend.
Seinfeld also wrote the foreword to the ''Peanut Butter & Co. Cookbook'', from his favorite sandwich shop in New York City.
Seinfeld and his wife have one daughter and two sons; daughter Sascha was born on November 7, 2000 in New York City, son Julian Kal was born on March 1, 2003 in New York City, and Shepherd Kellen was born on August 22, 2005 at New York's Cornell Medical Center. His son Julian's middle name is Kal, which is the first name of Seinfeld's father. Kal is also the first name of Seinfeld's hero Kal-El. Among Seinfeld's best friends are fellow comedians Larry Miller and Mario Joyner.
In 2000, Jessica Seinfeld launched Baby Buggy, a charity that provides clothing and gear for underprivileged women and children. She is the author of the best-seller ''Deceptively Delicious: Simple Secrets to Get Your Kids Eating Good Food'', released by HarperCollins in October 2007.
Seinfeld is recorded as having made several political contributions, including George W. Bush and Al Gore's presidential campaigns in 2000, and subsequently to four Democratic Party primary candidates in 2000 and 2004.
Seinfeld says that he has practiced Transcendental Meditation for most of his life, and he appeared at a 2009 benefit for TM. Seinfeld has admitted dabbling in Scientology when he was in his twenties, though he says he was never in the organization. The association came to light in 1992.
A fan of the New York Mets, Seinfeld periodically calls Steve Somers' show on WFAN-AM, a sports talk radio station, as "Jerry from Queens." Seinfeld called four innings of a Mets game on SportsNet New York June 23, 2010, reuniting with analyst Keith Hernandez who appeared in the ''Seinfeld'' two part episode The Boyfriend.
A current tally has Seinfeld owning 46 Porsches. Reporter Paul Bannister reports that Seinfeld's collection includes Porsche 911s from various years, 10 Porsche Boxsters each painted a different color, and the famous 1955 Porsche 550 Spyder, the same model and pearl-grey color that actor James Dean was driving when he crashed and died. The Discovery Channel television show "Chasing Classic Cars" claims that Seinfeld owns the first and last original Porsche 911s produced. The centerpiece is a $700,000 Porsche 959, one of only 337 ever built. To his initial despair, he was not allowed to drive it as US emission and crash tests were never performed because Porsche refused to donate four Porsche 959s for destruction tests, rendering the car "not street-legal". He imported the car "for exhibition purposes", which stipulates the car may never be driven on American roads. The car was made US street legal in 1999 under the "Show or Display" federal law. In several episodes of ''Seinfeld'', Seinfeld drives a Saab 900 (NG) convertible, but a Porsche-themed painting, depicting a Porsche 904 GTS race car competing in the 1964 Targa Florio race in Italy, is visible on a wall in his apartment, as well as a Porsche racing poster featuring a 550 Spyder depicting the 1958 Targa Florio. In another episode, he is seen hiding behind a red Porsche 911RS parked on the street. In addition, an issue of ''Excellence'', a Porsche-centered publication, is featured prominently on an outdoor magazine rack in one episode and on at least one occasion he is seen reading an issue of ''Road and Track'' magazine from circa 1990 with a cover article on the Porsche 964. He also wrote an article for the February 2004 issue of ''Automobile'', reviewing the Porsche Carrera GT. For the story he was awarded Road Pest — Silver at the 2004 International Automotive Media Awards.
Year | Film | Role | Notes |
''The Ratings Game'' | Network Rep | ||
''Pros & Cons'' | Prison Man #2 | ||
Himself | |||
rowspan="2" | ''A Uniform Used to Mean Something'' | Himself | |
''Hindsight Is 20/20'' | Himself | ||
''Bee Movie'' | Barry B. Benson |
Category:American stand-up comedians Category:American television actors Category:American voice actors Category:American Jews Category:Best Musical or Comedy Actor Golden Globe (television) winners Category:Car collectors Category:Emmy Award winners Category:Jewish comedians Category:Living people Category:Actors from New York City Category:People from Brooklyn Category:People from Nassau County, New York Category:Queens College, City University of New York alumni Category:People from East Hampton (town), New York Category:State University of New York at Oswego alumni Category:Outstanding Performance by an Ensemble in a Comedy Series Screen Actors Guild Award winners Category:1954 births Category:American memoirists
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