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Buffett has turned his 1965 purchase of clothing company Berkshire Hathaway (BRKA) into one of the most successful investing vehicles of all time. From the 1960s through the 1990s, major stock indexes averaged an 11% annual gain, while Berkshire's stock averaged 28%.
Berkshire currently has stakes in a variety of industries, and owns many companies outright, including Heinz, Fruit of the Loom, Geico, and the railroad BNSF.
Buffett, famous for championing higher taxes on the rich, plans on giving most of his money away to charity upon his death -- a big chunk of it to his friend Bill Gates' foundation.