Warren Buffett is the third richest person and second richest man in America, with a net worth of $31 billion. He lives a modest lifestyle in the same small house he purchased over 50 years ago and owns Berkshire Hathaway, a conglomerate holding company with over $484 billion in total assets and 302,000 employees. Buffett took control of Berkshire Hathaway in the 1960s and has built it into a massive multinational corporation through successful investments and acquisitions over several decades.