Talk:Warren Buffett/Archive 2

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On citation # 38, there is a broken link. Can you help correct it and have it point to https://money.com/this-is-how-much-it-costs-to-live-next-to-warren-buffett/? This is the original content that was on the outdated time.com/money link. ^[2] money.com is no longer a subdomain on time.com, however, the original content from money is still available on the link I provided. the https://time.com/money/3843188/this-is-how-much-it-costs-to-live-next-to-warren-buffett/ link is pointing to an irrelevant homepage ^[3]) Please remove https://time.com/money/3843188/this-is-how-much-it-costs-to-live-next-to-warren-buffett/ and replace with https://money.com/this-is-how-much-it-costs-to-live-next-to-warren-buffett/. Thanks! CamerasAndCoffee (talk) 14:53, 28 April 2022 (UTC)

 Not done for now: please establish a consensus for this alteration before using the {{edit semi-protected}} template. The cite already links to an archive of the original, which in my eyes is better because it contains the byline of the article. ScottishFinnishRadish (talk) 15:00, 28 April 2022 (UTC)

ScottishFinnishRadish Thank you for your advice! Sorry for not including the consensus, I’m a total noob here. I agree that having that archive page is helpful and I don’t think we should change the archived page at all. However, the original link is indeed broken and per Wikipedia, “If you find a suitable new URL, then you can edit the parameters within the citation”^[4] Wikipedia also suggests the following in order to correct/repair broken links: “ Find a replacement source: Search the web for quoted text, the article title, and parts of the URL. Consider contacting the website/person that originally published the reference and asking them to republish it. Ask other editors for help finding the reference somewhere else, including the user who added the reference. Find a different source that says essentially the same thing as the reference in question.”^[5] I hope in some way this satisfies the consensus. Do you think we can have the best of both worlds and keep the archived version as well as edit the link as requested? I assure you that the content on the proposed money.com link is the original content on the old link. I appreciate your help on this, I’m still learning a lot and you’ve been a huge help! Any additional advice/help is appreciated and welcomed! Thanks! CamerasAndCoffee (talk) 17:15, 28 April 2022 (UTC)

 Not done: Citation #38 is good, it points to here and isn't a deadlink. Please follow the above guidance for this specific reference to be changed. Thanks, Terasail^[✉️] 21:14, 28 April 2022 (UTC)

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change "making him the world's sixth-wealthiest person.[5]" to "making him the world's fifth-wealthiest person.[5]" 195.221.82.2 (talk) 12:51, 30 May 2022 (UTC)

 Done ;; Maddy ♥︎(they/she)♥︎ :: talk  16:46, 30 May 2022 (UTC)

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I wanted to raise a question specifically of the "COVID-19 pandemic" section. As this is a small section containing only three sentences it seems unnecessary to have this as the third section in this article. I personally would think it would be better suited as a subsection of "Political and public policy views" or the section to be placed just after that section. Thanks! Grahaml35 (talk) 14:40, 7 July 2022 (UTC)

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“Eighth” is incorrectly spelled “eigth” in “eigth-wealthiest person”. 2605:A601:AFF0:C800:458B:C745:61F0:962D (talk) 08:51, 12 July 2022 (UTC)

 Done 💜  melecie  talk - 10:43, 12 July 2022 (UTC)

searching for programs for Afghanis' presently in the US. 2601:644:500:5DE0:95E1:7D1B:E7FC:ED7C (talk) 21:35, 1 August 2022 (UTC)

Wikipedia articles about billionaires would seem a lot less like PR pieces if they stopped featuring things like "donates a lot of money to causes they care about" as an "occupation." Typically, an occupation is what people do to EARN money. If it's something he does while spending money, that's what we call a HOBBY.

Also, transferring Berkshire Hathaway shares to your best friend Bill Gates's personal charity is a lot less philanthropic than it is in the interests of tax writeoffs. That's not an occupation, it's just accounting. 2601:1C0:5E80:7590:9127:89D1:DBFD:5ECD (talk) 22:54, 6 November 2022 (UTC)

Insofar as Buffett does not manage his family foundations, and was active in the Gates Foundation only during 2006-2011, I might agree with the first point. He is a donor rather than an professional philanthropist. As for tax deductions for donations of stock, those who have strong opinions about them rarely are able to explain why, and they have no bearing on whether philanthropy is an occupation or not. 67.180.143.89 (talk) 02:32, 10 November 2022 (UTC)

Apparently, despite perhaps not completely seeing eye-to-eye, there's been a rapprochement between the two since the 2006 falling-out- see https://finance.yahoo.com/news/meet-nicole-buffett-granddaughter-legendary-100000314.html , from which: "Enter her grandfather, Warren. “He’s happy I’m doing so well,” Nicole said, mentioning a recent email he sent her saying so. “I think the place in which my grandfather would be able to celebrate NFTs and crypto would be that it supports artists. We come from a family of artists.” Besides Warren’s well-documented dislike, hatred even, of crypto, he and his granddaughter had a reported falling out decades ago, when she was in her 20s. She told Fortune both of these are misunderstood. Yes, Nicole allows, “he has issues with crypto, but I don't think he has any issues with artists being contributors. He's an art appreciator, and my family are all art appreciators.” She also emphasizes that her past disagreements with her grandfather should remain in the past, and talks of reconciliation. “He is happy that I'm finding a way to support myself and exchange what I have to create in this world in the marketplace,” she said. “I think that he respects that. I think that he, of all people, appreciates authenticity, integrity and hard work. Those qualities go hand-in-hand with who an artist is and what an artist brings to our world.” Seems worth including an update on that situation. — Preceding unsigned comment added by 88.109.203.216 (talk) 01:36, 10 February 2023 (UTC)

I don't believe Wikipedia can or should rely on Nicole's word as to what Warren might think, and that leaves only what he reportedly said in e-mail in an uncertain context. I wouldn't know how to word it in the article. 67.180.143.89 (talk) 22:06, 18 February 2023 (UTC)

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Change Buffett is a longtime friend of singer-songwriter Jimmy Buffett who would often refer to one another as "Uncle Warren" and "Cousin Jimmy".

To Buffet was a longtime friend of singer-songwriter Jimmy Buffett until his death on the 1st of September 2023. They would often refer to one another as "Uncle Warren" and "Cousin Jimmy". Pmgraham2001 (talk) 17:12, 6 September 2023 (UTC)

 Done Tollens (talk) 06:16, 7 September 2023 (UTC)

–nick puckett

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2607:FB91:1EC4:C7D:515F:5C1C:8D34:AEA8 (talk) 14:42, 15 September 2023 (UTC)

 Not done: it's not clear what changes you want to be made. Please mention the specific changes in a "change X to Y" format and provide a reliable source if appropriate. — Paper9oll (🔔 • 📝) 16:03, 15 September 2023 (UTC)

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change "aAter" to "He later" AidyFS (talk) 17:36, 15 October 2023 (UTC)

 Done RudolfRed (talk) 17:49, 15 October 2023 (UTC)

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Change the ranking as of 2023 from 7th to 5th. 86.168.227.101 (talk) 23:38, 19 November 2023 (UTC)

 Not done: please provide reliable sources that support the change you want to be made. Pinchme123 (talk) 03:15, 26 November 2023 (UTC)

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Add "Personal Stock Trading" under Business Career

In November 2023, [] published instances of Warren Buffett's trading in equities in his personal stock portfolio, based on tax records leaked to the organization. Buffett sold shares in Johnson and Johnson, Walmart, and Wells Fargo, even as Berkshire Hathaway actively traded large positions in the same companies. ^[1]

Although Buffett has not commented, Berkshire Hathaway's Vice Chairman Charlie Munger dismissed the allegations, saying "I don’t think there’s the slightest chance that Warren Buffett is doing something that is deeply evil to make money for himself."^[2] HelmHammerhandNinth (talk) 13:32, 18 November 2023 (UTC)

 Done Lewcm Talk to me! 08:54, 6 December 2023 (UTC)

Language needs to be toned down and made more encyclopedic. "Enlivened", "tidy sum", etc toobigtokale (talk) 23:04, 19 January 2024 (UTC)

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Link "Secret Millionaires Club" reference under Personal Life to https://en.wikipedia.org/wiki/Secret_Millionaires_Club 75.85.167.29 (talk) 06:06, 22 March 2024 (UTC)

 Done Jonathan Deamer (talk) 10:03, 22 March 2024 (UTC)

Could please anyone explain to me why my edits were undid "against status quo"? What does it exactly mean in Wikipedia? Thanks a lot! Foxyra (talk) 13:45, 9 April 2024 (UTC)

This article fails to mention Buffett's $5bn investment in Bank of America in 2011. This was one of Buffett's most profitable trades. He made $300 million per year on the preferred stock until 2017 when he sold the preferred position to exercise the warrants he received for BAC stock, netting a $12bn gain. Tomwiki32256 (talk) 13:16, 6 May 2024 (UTC)

https://www.cnbc.com/id/21553857

This drives me bonkers since so many take it out of context, stating Buffett paid less tax than his Secretary.

Buffett felt he was undertaxed vs. his employees and wanted to increase his marginal tax rate - which happened since Capital Gain tax went up to 20% and the ACA tax of 3.3%

The Forbes reference here is not good, so I found the source: an interview by NBC’s Tom Brokaw “appeared on set with anchor Brian Williams on Nightly News last night with a taped piece that features a sit-down interview with Buffett.” https://www.cnbc.com/id/21553857 retrieved 6/4/2024

Why is this important? Many feel the rich are not paying “their fair share” of taxes https://www.reddit.com/r/tax/comments/1d75jxh/what_are_the_techniques_that_the_rich_really_use/?sort=new and cite Buffett.

Warren Buffett and NBC's Tom Brokaw: The Complete Interview Alex Crippen | @alexcrippen Published 12:08 AM ET Wed, 31 Oct 2007 Updated 3:39 PM ET Thu, 5 Aug 2010 CNBC.com

Tom: You've talked about in your office, for example, you pay a much lower tax rate with all of your wealth than, say, a receptionist does.

Warren: That's exactly right, Tom. And I-- I think the only way to do it is with specifics, and-- and - and in our office, 15 people cooperated in a survey out of 18. I didn't make anybody do it. And my total taxes paid-- payroll taxes plus income tax-- and the payroll tax is an income tax. It's based on income.

Tom: Yeah.

Warren: Mine came to-- 17.7 percent. That-- that was the-- that was line 61 I think-- or, no, line 43-- is the percent of taxable income, plus payroll taxes, 17.7 percent. The average for the office was 32.9 percent. There wasn't anybody in the office from the receptionist on that paid as low a tax rate. And I have no tax planning. I don't have an-- I don't have a-- an accountant. I don't have tax shelters. I just follow what the U.S. Congress tells me to do.

Tom: Why do you think that there's not more outrage about that?

Warren: I-- I don't think people understand it. For one thing, you'll see a lot of surveys that say the rich, the top one percent pay this much of the income tax. Now I think what people don't realize is that almost one third of the entire budget comes from payroll taxes. And payroll taxes on income, just like income taxes are taxes on income.

And the payroll tax is over $800 billion out of two and a trillion, or something like that. And people don't understand-- they-- they-- that the rich pay practically no payroll tax. I mean, I paid payroll tax last year on $90 odd thousand, whatever the number is. I paid income tax on $66 million. But my double income tax, one of 'em quits at $90,000. And the remaining $66 million does not get taxed with payroll tax. So, the person who makes $60,000 in our office gets ta-- taxed in full on the payroll tax, and taxed in full on the income tax. And-- and all the statistics you read, particularly the one don't like taxes, well now, they totally ignore the payroll tax. And it's huge now.

Tom: Of all the tax lines that you've seen proposed over the years, a flat tax, a consumption tax, a more progressive income tax, which is the one that appeals to you the most?

Warren: Well, in theory a progressive consumption tax makes the most sense. I mean, if you tax the people who use the resources of society rather than ones who-- who-- who provide the resources of society, that makes more sense. And a consumption tax can be very progressive.

You can have just an unlimited IRA. As long as you invest money, and don't actually spend it for yourself, or your kids don't spend it, or whatever-- you don't get taxed. As soon as you start making withdrawals from society's bank, start using the resources, the-- the sweat of other people to-- benefit yourself, you would pay on that. That-- that's the one that makes the most sense. I don't-- it isn't gonna happen-- in all likelihood.

Certainly the worst taxes-- is something like a sales tax. I would say that we've got a pretty bad system, when we tax the person who-- who cleans out my office, the receptionist. They are paying 15-- payroll taxes, over 15 percent now, just for openers.

Most of my income is taxed at 15 percent, and-- and doesn't pay a payroll. Mainly it’s dividends and capital gains. And if you look at the For-- Forbes 400, a bunch of my fellow rich guys-- they will-- their tax rate overall to the federal government will be less than that of their receptionist. And I challenge anybody. If they want to make me a bet on that, and I've urged Congress, both the Senate and the House, to get the figures anonymously from the IRS. Just look at that Forbes 400. Takes a billion three to get on the Forbes 400 this year. And the aggregate wealth is just staggering. And those people are paying less percentage of their total income to the federal government than their receptionists are. Interview continues. Nofway (talk) 15:43, 4 June 2024 (UTC)

In the first sentence, someone has misstated WB as a "co-founder" of Berkshire Hathaway, which is not factual. A predecessor company, run by Oliver Chase in 1839, combined in 1955 with Hathaway to form Berkshire Hathaway. Mr. Buffett did not begin purchasing shares in the public company until 1962, and the Partnership that he ran, Buffett Partners, Ltd (BPL), gained a majority and controlling interest by 1964.

Even if one ignored the 19th Century predecessor companies, the company that exists today, Berkshire Hathaway, Inc., traces its legacy back to 1955 and Warren Buffett had zero involvement prior to 1962, thus excluding any possibility of founding. 2601:140:9481:6F40:D85:1116:4149:E19 (talk) 23:17, 3 May 2024 (UTC)

I see the lead still refers to him as the co-founder of Berkshire. Berkshire Hathaway was a textile factory, established through the merger of Hathaway Manufacturing Company and Berkshire Fine Spinning Associates, in 1955. Buffett took control of the company in 1965 and turned it into a holding company. If there is no argument against it I am going to remove "co-founder" from the lead Frankserafini87 (talk) 20:44, 27 June 2024 (UTC)

I have removed "co-founder' of Berkshire from the lede. Frankserafini87 (talk) 04:11, 29 June 2024 (UTC)

There is an error on the Leila(nee Stahl) link.. it takes to the page of his father instead. Not sure how to fix this. 2803:9400:3:6026:6C1D:75B6:7B07:568A (talk) 16:31, 13 February 2025 (UTC)

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In the introduction, change tenth richest to ninth according to the linked articled as of september 2024. Rrongfield (talk) 11:31, 21 October 2024 (UTC)

 Done Eighth richest as of October. — BerryForPerpetuity (talk) 12:08, 21 October 2024 (UTC)

Warren Butffet's substantial philantropy means that measuring him on a rich list against other billionaires is not a fair testament to his business success. I believe the article should contain a sentence showing what Warren Buffet's current wealth would be if he had retained all of the 474,998 BRKA shares he owned before starting to donate them.— Preceding unsigned comment added by 115.77.19.67 (talk • contribs)

Every list of 'net worth' rankings are conjecture to begin with. Adding an element of "what if" would be pure fantasy, and fall directory into our prohibition of original research.Sam Kuru (talk) 23:17, 6 May 2025 (UTC)

It seems that Buffett's call to invest in AmEx 1963 was a notable event, yet no mention? —Hobart (talk) 17:10, 8 May 2025 (UTC)