They call him the "Oracle of Omaha."

For decades, the world has looked to Warren Buffett for investment advice and leaned on his legendary business acumen.

His reputation is formidable, as is his wealth — this year, Forbes magazine ranked the folksy Nebraskan as the sixth-richest person in the world.

Buffett, who turned 94 years old this year, built his fortune as chairman of Berkshire Hathaway, a holding company that has stake in some of the world's most valuable companies.

At this year's annual shareholder meeting, Buffett announced that he would step down as CEO at the end of 2025. He has been with Berkshire Hathaway since it was formed in 1965.

Buffett's wisdom has become so cherished that some people donate thousands of dollars to charity just to have lunch with him. In 2019, a tech entrepreneur paid more than $4.5 million for the honor.

Buffett has also given billions of dollars to philanthropic causes. In 2006, he pledged to give away almost all of his fortune to charity.

Buffett was born in Omaha, Nebraska, on August 30, 1930. He was the only son of Laila and Howard Buffett. Howard was a US congressman.
Buffett was born in Omaha, Nebraska, on August 30, 1930. He was the only son of Laila and Howard Buffett. Howard was a US congressman.
Courtesy of Susie Buffett
A young Buffett, far left, is seen with his grandfather, Ernest, as well as his cousins and two sisters.
A young Buffett, far left, is seen with his grandfather, Ernest, as well as his cousins and two sisters.
Courtesy of Susie Buffett
Laila Buffett poses with her three children -- from left, Roberta, Warren and Doris.
Laila Buffett poses with her three children -- from left, Roberta, Warren and Doris.
Courtesy of Susie Buffett
Warren Buffett stands in front of his childhood home in Omaha.
Warren Buffett stands in front of his childhood home in Omaha.
Courtesy of Susie Buffett
Buffett teaches a class at the University of Nebraska-Omaha.
Buffett teaches a class at the University of Nebraska-Omaha.
Courtesy of Susie Buffett
Buffett married his first wife, Susan, in 1952. They had three children together: Peter, Howard and Susan. The latter two are seen here with their parents.
Buffett married his first wife, Susan, in 1952. They had three children together: Peter, Howard and Susan. The latter two are seen here with their parents.
Courtesy of Susie Buffett
Buffett and his wife pose at the beach with their three children.
Buffett and his wife pose at the beach with their three children.
Courtesy of Susie Buffett
Buffett poses for a photo in 1980.
Buffett poses for a photo in 1980.
Lee Balterman/The LIFE Images Collection/Getty Images
Buffett testifies before a House subcommittee after the Salomon Brothers investment bank was caught in a treasury bond scandal in 1991. Buffett took over as the company's chairman of the board to guide it out of troubles with the Federal Reserve System.
Buffett testifies before a House subcommittee after the Salomon Brothers investment bank was caught in a treasury bond scandal in 1991. Buffett took over as the company's chairman of the board to guide it out of troubles with the Federal Reserve System.
Marcy Nighswander/AP
Buffett attends one of Berkshire's annual shareholders meeting. Seated with him here are his daughter Susan, left, and his wife Susan. Buffett's wife died in 2004.
Buffett attends one of Berkshire's annual shareholders meeting. Seated with him here are his daughter Susan, left, and his wife Susan. Buffett's wife died in 2004.
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Buffett arrives at an Omaha Dairy Queen to autograph books and chat with Berkshire Hathaway shareholders in 2002. Many people were in Omaha for Berkshire Hathaway's annual shareholders meeting, which has been described as "the Woodstock of Capitalism."
Buffett arrives at an Omaha Dairy Queen to autograph books and chat with Berkshire Hathaway shareholders in 2002. Many people were in Omaha for Berkshire Hathaway's annual shareholders meeting, which has been described as "the Woodstock of Capitalism."
Nati Harnik/AP
Buffett attends a GEICO ceremony in Trenton, New Jersey, in 2004.
Buffett attends a GEICO ceremony in Trenton, New Jersey, in 2004.
Curt Hudson/Bloomberg/Getty Images
Buffett joins California Gov. Arnold Schwarzenegger during a meeting of Wall Street investors in New York in 2004. Buffett advised Schwarzenegger's gubernatorial campaign in 2003.
Buffett joins California Gov. Arnold Schwarzenegger during a meeting of Wall Street investors in New York in 2004. Buffett advised Schwarzenegger's gubernatorial campaign in 2003.
Kathy Willens/Pool/Getty Images
Buffett sits atop a fake bull at the Berkshire Hathaway annual meeting in 2006.
Buffett sits atop a fake bull at the Berkshire Hathaway annual meeting in 2006.
Chris Machian/Bloomberg/Getty Images
Buffett stacks his chips at a charity poker tournament in Omaha in 2006.
Buffett stacks his chips at a charity poker tournament in Omaha in 2006.
Dave Weaver/AP
Buffett plays the ukulele with a band during the Berkshire Hathaway meeting in 2007. He learned the instrument decades ago.
Buffett plays the ukulele with a band during the Berkshire Hathaway meeting in 2007. He learned the instrument decades ago.
Nati Harnik/AP
Buffett stands in front of a portrait of himself, painted by Michael Israel, in 2008.
Buffett stands in front of a portrait of himself, painted by Michael Israel, in 2008.
Chris Machian/Bloomberg/Getty Images
Buffett throws out the first pitch before a Kansas City Royals baseball game in 2008.
Buffett throws out the first pitch before a Kansas City Royals baseball game in 2008.
John Sleezer/Kansas City Star/MCT/Getty Images
Buffett sits with Girl Scouts in Omaha in 2008.
Buffett sits with Girl Scouts in Omaha in 2008.
Nati Harnik/AP
Buffett uses a large paddle to play table tennis in 2010.
Buffett uses a large paddle to play table tennis in 2010.
Nati Harnik/AP
Buffett and Microsoft Chairman Bill Gates enjoy a meal together at the Hollywood Diner in Omaha in 2010. That year, the two launched The Giving Pledge, which encourages the world's billionaires to dedicate the majority of their wealth to philanthropic causes.
Buffett and Microsoft Chairman Bill Gates enjoy a meal together at the Hollywood Diner in Omaha in 2010. That year, the two launched The Giving Pledge, which encourages the world's billionaires to dedicate the majority of their wealth to philanthropic causes.
Mark Peterson/Redux
Buffett is sworn in to testify before the Financial Crisis Inquiry Commission in 2010. The bipartisan committee was created by Congress to investigate the causes of the financial crisis.
Buffett is sworn in to testify before the Financial Crisis Inquiry Commission in 2010. The bipartisan committee was created by Congress to investigate the causes of the financial crisis.
Mario Tama/Getty Images
President Barack Obama awards the Presidential Medal of Freedom to Buffett in 2011. "Today, we know Warren Buffett not only as one of the world's richest men, but also one of the most admired and respected," Obama said. "Unmoved by financial fads, he has doggedly sought out value, put his weight behind companies with promise and demonstrated that integrity isn't just a good trait -- it is good for business."
President Barack Obama awards the Presidential Medal of Freedom to Buffett in 2011. "Today, we know Warren Buffett not only as one of the world's richest men, but also one of the most admired and respected," Obama said. "Unmoved by financial fads, he has doggedly sought out value, put his weight behind companies with promise and demonstrated that integrity isn't just a good trait -- it is good for business."
Jim Watson/AFP/Getty Images
Buffett is mobbed by journalists and shareholders during Berkshire Hathaway's annual shareholders meeting in 2011.
Buffett is mobbed by journalists and shareholders during Berkshire Hathaway's annual shareholders meeting in 2011.
Nati Harnik/AP
Buffett talks with his son Peter before the start of the shareholders meeting in 2011.
Buffett talks with his son Peter before the start of the shareholders meeting in 2011.
Daniel Acker/Bloomberg/Getty Images
Buffett poses for a photo in Omaha in 2012.
Buffett poses for a photo in Omaha in 2012.
Harry Benson/Contour by Getty Images
Buffett and his second wife, Astrid, arrive at the White House for a state dinner honoring British Prime Minister David Cameron in 2012. The next month, Buffett confirmed that he had been diagnosed with Stage 1 prostate cancer. He underwent radiation treatments and told Berkshire Hathaway shareholders that the cancer was "not remotely life-threatening."
Buffett and his second wife, Astrid, arrive at the White House for a state dinner honoring British Prime Minister David Cameron in 2012. The next month, Buffett confirmed that he had been diagnosed with Stage 1 prostate cancer. He underwent radiation treatments and told Berkshire Hathaway shareholders that the cancer was "not remotely life-threatening."
Brendan Hoffman/Getty Images
Buffett looks out at Omaha in 2012.
Buffett looks out at Omaha in 2012.
Harry Benson/Contour by Getty Images
Buffett wears a Woodrow Wilson High School jacket as he attends an event in Washington, DC, in 2012. Buffett graduated from the Washington high school in 1947.
Buffett wears a Woodrow Wilson High School jacket as he attends an event in Washington, DC, in 2012. Buffett graduated from the Washington high school in 1947.
Kristoffer Tripplaar/Alamy
Buffett is photographed for Forbes magazine in 2012.
Buffett is photographed for Forbes magazine in 2012.
Harry Benson/Contour by Getty Images
Buffett listens as his son Howard speaks during an interview in New York in 2013. Buffett and his late first wife, Susan, gave and pledged billions to each of their three children to fund charitable foundations. Howard, an Illinois farmer, picked global hunger as his target.
Buffett listens as his son Howard speaks during an interview in New York in 2013. Buffett and his late first wife, Susan, gave and pledged billions to each of their three children to fund charitable foundations. Howard, an Illinois farmer, picked global hunger as his target.
Scott Eells/Bloomberg/Getty Images
Buffett spins a basketball with the help of Chris "Handles" Franklin, one of the Harlem Globetrotters, at the Berkshire Hathaway shareholders meeting in 2013. At left is football star Ndamukong Suh.
Buffett spins a basketball with the help of Chris "Handles" Franklin, one of the Harlem Globetrotters, at the Berkshire Hathaway shareholders meeting in 2013. At left is football star Ndamukong Suh.
Nati Harnik/AP
Buffett and Berkshire Hathaway Vice Chairman Charlie Munger are seen on a giant screen during the Berkshire Hathaway shareholders meeting in 2013.
Buffett and Berkshire Hathaway Vice Chairman Charlie Munger are seen on a giant screen during the Berkshire Hathaway shareholders meeting in 2013.
Nati Harnik/AP
Buffett arrives for a conference in Sun Valley, Idaho, in 2014.
Buffett arrives for a conference in Sun Valley, Idaho, in 2014.
Scott Olson/Getty Images
Buffett introduces products to shareholders before their annual meeting in 2014.
Buffett introduces products to shareholders before their annual meeting in 2014.
Huang Jihui/Xinhua/Alamy
Buffett goofs off with Cleveland Cavaliers mascot Moon Dog prior to an NBA game in 2014.
Buffett goofs off with Cleveland Cavaliers mascot Moon Dog prior to an NBA game in 2014.
Jason Miller/Getty Images
Buffett does an interview in 2015.
Buffett does an interview in 2015.
Adam Jeffery/CNBC/NBCUniversal/Getty Images
Buffett listens as presidential candidate Hillary Clinton speaks during an event in Omaha in 2015. Buffett said at the rally that he was supporting Clinton's bid for president because they share a commitment to help the less affluent.
Buffett listens as presidential candidate Hillary Clinton speaks during an event in Omaha in 2015. Buffett said at the rally that he was supporting Clinton's bid for president because they share a commitment to help the less affluent.
Daniel Acker/Bloomberg/Getty Images
Buffett attends the world premiere of "Becoming Warren Buffett," a documentary about his life, in 2017.
Buffett attends the world premiere of "Becoming Warren Buffett," a documentary about his life, in 2017.
J. Kempin/Getty Images
Buffett attends Forbes' 100th anniversary gala in New York in 2017.
Buffett attends Forbes' 100th anniversary gala in New York in 2017.
Andy Kropa/Invision/AP
Buffett walks through the exhibit hall during Berkshire Hathaway's shareholders meeting in 2019.
Buffett walks through the exhibit hall during Berkshire Hathaway's shareholders meeting in 2019.
Scott Morgan/Reuters
Buffett speaks during Berkshire Hathaway's virtual shareholders meeting in May 2020.
Buffett speaks during Berkshire Hathaway's virtual shareholders meeting in May 2020.
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