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On Monday afternoon, universally recognized investor, chairman, and CEO of Berkshire Hathaway (BRK.B - Free Report) Warren Buffett issued a direct challenge to Republican Presidential nominee Donald Trump. He wants Trump to meet with him, bring his tax returns, and let the public inquire about the filings.
For some time now, Trump has resisted releasing his returns, citing that he is “being audited by the IRS.” However, Buffett responded by stating that he too is being audited, and that it is not a reason to avoid disclosing his returns. For the last 40 years, every major party presidential candidate has released their tax returns, so it is fishy to some that Trump remains hesitant in doing so.
The so-called “Oracle of Omaha” and the Donald have differing ideologies on quite a few things. Both also stand in different positions socially, as well as in terms of net worth, and influence, although some of these can be a bit subjective. Let’s break down just how unlike each other these two are.
The Battle for Attention
For years now, Donald Trump has found some way to stay in the spotlight. With interviews spanning back to the 80s to his controversial show, The Apprentice, which he was on from 2004 until 2015, Trump has done much to stay relevant in the public domain.
He has filmography spanning back to 1985, and as recently as 2015 hosted an episode of Saturday Night Live. Trump also owned part or all of the Miss Universe, Miss USA, and Miss Teen USA pageants, which has had its own share of controversy as well.
In this regard, there is a stark difference between Trump and Buffett, who according to his biographer used to throw up before public speaking, and “arranged my life so that I never had to get up in front of anybody.”
Given his recent speech introducing Hillary Clinton and calling out Trump on his taxes, we know Buffett is no longer the stranger to public speaking that he once was.
Overall, Buffett has never done much to bring himself into the spotlight. Although making public appearances here and there, to speak about the market, endorse a candidate, or serve as an economic adviser, Buffett is not as hungry for attention as his counterpart.
Path to Wealth
In 1975, Donald Trump inherited a real estate business from his father, Fred Trump. At the time of inheritance, the business was worth $40 million. He claims his current net worth to stand at around $10 billion, although there is some disagreement over that number.
Between then and now, Trump has grown his business through building his brand name hotels and towers across different parts of the U.S. First, he concentrated entirely on New York, which was quite the gamble, but has since built properties on both coasts of the U.S. and in between, Canada, Panama, Mumbai, the Philippines, and other countries as well.
Trump has also concentrated on building his brand through his dedication to remaining in view of the public (as discussed above).
The son of a Republican Congressman, Warren Buffett’s life as an entrepreneur began quite early, when as a child he sold chewing gum, soda bottles, and weekly magazines door-to-door. The world knows him for purchasing Berkshire Hathaway. He gained control of the company in 1964 as a textile business, which he soon cut and expanded into the insurance industry.
In the years since, Berkshire Hathaway has acquired and holds stakes in many major companies. Much of Buffett’s estimated $63.3 billion net worth comes from his holdings in Berkshire Hathaway, which manages a portfolio worth over $132 billion. His company has grown over 1.8 million percent since Buffett took over, yet another testament to his legendary reputation.
What Kind of Influence Do Each Have?
On the topic of influence, both that of Trump and Buffett are massive in their own regard. Over the years, Buffett has been the subject of countless studies, books, and a shift in the way that many approach investing. His “value investing” methodology has gained many supporters, followers, and practitioners.
Buffett has also pledged to donate 99% of his worth to charity, an impact that is currently immeasurable due to the vast amount of uses that money can have in the future. Furthermore, the market responds to Buffett’s movements. When Buffett announces a stake in a company, its stocks soar, which goes to show how much people value his expertise.
Donald Trump has had a monstrous amount of influence as well. Between making his catchphrase “you’re fired” resonate in households across the nation to now becoming the Republican presidential nominee, Trump has become quite well-known. The ethicality of his influence is not for me to comment on, but he has done much to bring disgruntled Americans out of the woodwork and onboard to support his message.
Bottom Line
Warren Buffett and Donald Trump are very different people, in just about every way. Both have made names for themselves, are some of the wealthiest on Earth, and are influential enough to have articles written about them.
One thing’s for sure, and that is that both names will show up in history books, although under different pretenses.
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Head to Head: Donald Trump and Warren Buffett
On Monday afternoon, universally recognized investor, chairman, and CEO of Berkshire Hathaway (BRK.B - Free Report) Warren Buffett issued a direct challenge to Republican Presidential nominee Donald Trump. He wants Trump to meet with him, bring his tax returns, and let the public inquire about the filings.
For some time now, Trump has resisted releasing his returns, citing that he is “being audited by the IRS.” However, Buffett responded by stating that he too is being audited, and that it is not a reason to avoid disclosing his returns. For the last 40 years, every major party presidential candidate has released their tax returns, so it is fishy to some that Trump remains hesitant in doing so.
The so-called “Oracle of Omaha” and the Donald have differing ideologies on quite a few things. Both also stand in different positions socially, as well as in terms of net worth, and influence, although some of these can be a bit subjective. Let’s break down just how unlike each other these two are.
The Battle for Attention
For years now, Donald Trump has found some way to stay in the spotlight. With interviews spanning back to the 80s to his controversial show, The Apprentice, which he was on from 2004 until 2015, Trump has done much to stay relevant in the public domain.
He has filmography spanning back to 1985, and as recently as 2015 hosted an episode of Saturday Night Live. Trump also owned part or all of the Miss Universe, Miss USA, and Miss Teen USA pageants, which has had its own share of controversy as well.
In this regard, there is a stark difference between Trump and Buffett, who according to his biographer used to throw up before public speaking, and “arranged my life so that I never had to get up in front of anybody.”
Given his recent speech introducing Hillary Clinton and calling out Trump on his taxes, we know Buffett is no longer the stranger to public speaking that he once was.
Overall, Buffett has never done much to bring himself into the spotlight. Although making public appearances here and there, to speak about the market, endorse a candidate, or serve as an economic adviser, Buffett is not as hungry for attention as his counterpart.
Path to Wealth
In 1975, Donald Trump inherited a real estate business from his father, Fred Trump. At the time of inheritance, the business was worth $40 million. He claims his current net worth to stand at around $10 billion, although there is some disagreement over that number.
Between then and now, Trump has grown his business through building his brand name hotels and towers across different parts of the U.S. First, he concentrated entirely on New York, which was quite the gamble, but has since built properties on both coasts of the U.S. and in between, Canada, Panama, Mumbai, the Philippines, and other countries as well.
Trump has also concentrated on building his brand through his dedication to remaining in view of the public (as discussed above).
The son of a Republican Congressman, Warren Buffett’s life as an entrepreneur began quite early, when as a child he sold chewing gum, soda bottles, and weekly magazines door-to-door. The world knows him for purchasing Berkshire Hathaway. He gained control of the company in 1964 as a textile business, which he soon cut and expanded into the insurance industry.
In the years since, Berkshire Hathaway has acquired and holds stakes in many major companies. Much of Buffett’s estimated $63.3 billion net worth comes from his holdings in Berkshire Hathaway, which manages a portfolio worth over $132 billion. His company has grown over 1.8 million percent since Buffett took over, yet another testament to his legendary reputation.
What Kind of Influence Do Each Have?
On the topic of influence, both that of Trump and Buffett are massive in their own regard. Over the years, Buffett has been the subject of countless studies, books, and a shift in the way that many approach investing. His “value investing” methodology has gained many supporters, followers, and practitioners.
Buffett has also pledged to donate 99% of his worth to charity, an impact that is currently immeasurable due to the vast amount of uses that money can have in the future. Furthermore, the market responds to Buffett’s movements. When Buffett announces a stake in a company, its stocks soar, which goes to show how much people value his expertise.
Donald Trump has had a monstrous amount of influence as well. Between making his catchphrase “you’re fired” resonate in households across the nation to now becoming the Republican presidential nominee, Trump has become quite well-known. The ethicality of his influence is not for me to comment on, but he has done much to bring disgruntled Americans out of the woodwork and onboard to support his message.
Bottom Line
Warren Buffett and Donald Trump are very different people, in just about every way. Both have made names for themselves, are some of the wealthiest on Earth, and are influential enough to have articles written about them.
One thing’s for sure, and that is that both names will show up in history books, although under different pretenses.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>