This guy took Bill Gates crown as the world's richest man. The guy is often referred to as the Oracle of Omaha (he hails from Omaha, NB) or the Sage of Omaha. As of 2008, Forbes said that his net worth is $62 billion. And just like most billionaires on planet earth, the person I'm writing about is known for his big heart for charity — he promised to give away his fortune when he dies. That's Warren Buffet, one of the most influential people of today.

The success of Berkshire Hathaway made Buffet rich and powerful. Berkshire's class A shares sold for $96,600 as of December 31, 2008, making them the highest-priced shares on the New York Stock Exchange. February this year, Mr. Buffet released his company's annual report for 2008. According to the annual report, the company lost $11.5 billion.

“I did some dumb things in investments,” Buffet said in his letter to shareholders. Yet he remains optimistic that America's best days lie ahead.

So who exactly is Warren Buffet? And why is the world, specifically investors, asking themselves “what would Buffet do?” in times of crisis.

Growing up in his hometown, Warren Buffet displayed an amazing aptitude for both money and business at a very early age. He sold newspapers, 6-packs of Coca Cola and even stocks. He finished a degree in economics at the University of Nebraska in 1950. Buffet then continued his M.S. in Economics in Columbia University under the tutelage Phil Fisher and Benjamin Graham. Eventually, Benjamin Graham became an idyllic figure to the, then, twenty-one year old Warren Buffett.

After completing graduate school, Mr. Buffet went to work for his former mentor, and from then on began working his way up in creating his financial empire. Along the way, he also met Charlie Munger. The two hit off as good friends and business partners.

And the rest is history as they say. Warren Buffet acquired Berkshire Hathaway in 1965. He also invested in various industries including jewelry (Borsheim's), utilities (MidAmerican Energy), food (Dairy Queen, See's Candies and has noncontrolling stakes in Anheuser-Busch, Coca-Cola and Wells Fargo. His popularity not only came from his amazing successful business endeavors but for his personal frugality despite his immense wealth.

Indeed, he shocked the world by his decision to donate roughly $37 billion to the Gates Foundation. But his 3 kids, Susan, Howard and Peter were not surprised. "The truth is it would be insane to leave us that much money," said Susan Buffett in an interview with Good Morning America.

Regardless of the mistakes Buffet did last year, the man is still regarded as an icon in stock investments and the like. He set a major example amongst the rich that the more you give, the more you will receive. At 77 years old, the financial guru is as active as ever and come May 2, 2009 he will be presiding over the highly anticipated annual company meeting of Berkshire Hathaway in Omaha. Though Warren Buffet is not into forex trading, but forex traders might consider adapting the positive outlook he has on money and life itself.

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