by John Lavitt on March 18th, 2009 and filed under Rolex Watches
According to Forbes magazine’s annual list of billionaires published earlier this week, Warren Buffett still ranks among the world’s wealthiest individuals. Though he places as the globe’s second richest man, his choice in a trusty timepiece is nothing less than the best. Warren Buffet, with a net worth of $62 billion, has worn the same 18k gold Rolex Datejust since the first day it was purchased. This is the same man that made his entire fortune through smart investments thus proving the genius behind investing in a luxury Rolex.
Warren Buffet’s career began by delivering newspapers as a little boy. He filed his first tax return at age 13, claiming a $35 deduction for his bicycle. After studying under value investing guru Benjamin Graham at Columbia, he took over textile firm Berkshire Hathaway in 1965 and built it into a financial powerhouse. Today, the Berkshire-Hathaway holding company is invested in insurance (Geico, General Re), utilities (MidAmerican Energy), and food (Dairy Queen, See’s Candies). Moreover, Buffet has non-controlling stakes in Anheuser-Busch, Coca-Cola, and Wells Fargo while his insurance operations flourished in 2007.13,
In light of his actions, statements, and career success, it makes perfect sense that Warren Buffet would choose to wear an 18k Rolex Datejust. Of course, as the richest man in the world, he could afford any watch on the market. Certain luxury watches are sold for over $100,000 dollars, but such an expense and extravagance would not jibe with Buffet’s natural personality, as a tried-and-true Nebraskan. Instead, Mr. Buffett chooses to wear a quality and reliable watch with a reputation of precision and performance. In addition, the consistent donation of Rolex’s profits to charity and sporting events through the Hans Wilsdorf Foundation appears to be in perfect sync with Warren Buffet’s personal track record of charitable donations. Mr. Buffet permanently earmarked the majority of his Berkshire shares to charity in 2007 and 2008, largely to the Bill & Melinda Gates Foundation, an international organization aiming to increase access to healthcare and eliminating adverse poverty worldwide. The gift was valued at $31 billion on the day of announcement, but the donation will far exceed that sum so long as Berkshire shares continue to rise.
Mr. Buffett’s Datejust was introduced in 1945; the Rolex Oyster Perpetual Datejust is Rolex’s main flagship model wristwatch and is the best selling luxury wristwatch in history. The Datejust carried a great deal of significance as it was launched by Rolex to celebrate the 40th anniversary of the founding of Wilsdorf & Davis, the original name of the Rolex Corporation. The Oyster Perpetual Datejust was one of the first Rolex watch models to carry a date display on its dial and it was one of the first to use stored kinetic energy to have its movement accurately change. Today, the Rolex Oyster Perpetual Datejust is one of the most popular models among both men and women. People simply love its accuracy as a date displaying model. At midnight, the Rolex calendar automatically jumps to the next date. There is no better way to wake than knowing that your Rolex is by your side, ready to go, and giving accurate time. Since the richest man in the world wears a Rolex Datejust, shouldn’t you choose a Rolex wristwatch for yourself as well?Related Links
Berkshire Hathaway Annual Letter to Shareholders 2008 - Read the latest Berkshire Letter
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