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Berkshire Hathaway CEO Warren Buffett and Microsoft chairman Bill Gates are proud to call each other best friends. This might seem like a bit of a mismatch. After all, Gates' name is synonymous with cutting-edge technology, while Buffett doesn't even have a computer at his desk. However, the two have forged a strong bond anyway, due in part to their mutual love of the card game known as bridge. It's true --- the cunning investor and the captain of industry like almost nothing better than their bridge partnership, and have been known to play the game online together for twelve hours a week. The two men also share a commitment to philanthropy. In 2006, Gates announced his plan to donate a significant portion of his wealth to charity, the majority of which was intended for the Bill & Melinda Gates Foundation.
While neither man is a well-to-do eccentric like Howard Hughes, these billionaire BFFs have still led undeniably exceptional lives. In the following quiz, can you tell which responses are based on facts from Buffett's and Gates' real lives?
Warren Buffett is often referred to by what nickname?
- "The Godfather Of Soul"
- "The Hedgehog"
- "The Oracle Of Omaha"
- "The Prince Of Darkness"
Webster's Dictionary defines the word “oracle” as “a person giving wise or authoritative decisions or opinions,”and Warren Buffett has been just that for decades. His stock purchases have always been guided by a calm demeanor and a broad perspective, so while less savvy financiers make panicked investments in response to market fluctuations, Buffett's wait-and-see approach has allowed him to identify reliably profitable stocks, buy them at bargain rates, and stroll off into the sunset.
Warren Buffett and Bill Gates traveled together through what Asian country in 1995?
- China
- Laos
- Tibet
- Vietnam
Buffett and Gates traveled through China by train in 1995. The trip made such an impression on Buffett that in 2003 he made his first investment in the country, saying that ventures in that part of the world represented "a brand new form of capitalism."
How old was Warren Buffett when he filed his first tax return?
- 6 years old
- 13 years old
- 20 years old
- 43 years old
Buffett filed his first tax return in 1943, at the ripe old age of 13. He reported his yearly income as a newspaper delivery boy and even took deductions in the amount of $35, listing his bicycle and his watch as work expenses. There was no audit.
In the United States v. Microsoft antitrust case, Bill Gates was famously combative in his responses to which attorney?
- David Boies
- Gloria Allred
- Johnny Cochran
- William Kunstler
While being cross-examined by attorney David Boies in the 1998 case, Gates pulled out all the stops in his efforts to be as unhelpful as possible, going so far as to quarrel with Boies over the meaning of the word "we" and giving the statement "I don't recall" so often that even the judge was seen laughing at the sheer chutzpah of the defendant. Despite the levity, the judge ruled against Microsoft and found that the company had violated the Sherman Antitrust Act.
Warren Buffett is a relative of what famous singer?
- Harry Chapin
- Jimmy Buffett
- Michael Bolton
- Ozzy Osbourne
Buffett is a distant cousin of the "Cat's In The Cradle" singer Harry Chapin. He absolutely has no blood relation whatsoever to "Margaritaville& singer Jimmy Buffett, although the two have struck up a casual association over the years, based mostly on the fact that many people mistakenly assume that the two of them are related, thanks to the surname that they share.
From which college did Bill Gates graduate?
- Harvard University
- The Julliard School
- Massachusetts Institute of Technology (MIT)
- None
Bill Gates attended Harvard University but never graduated, making him one of the most successful college dropouts of all time. After scoring 1590 out of 1600 on his Scholastic Aptitude Test (SAT), he was easily accepted at the prestigious school. But despite his high intelligence and considerable potential, Gates wasn't particularly enthusiastic about his studies, preferring to spend most of his time in the computer lab. Eventually he re-connected with his old friend from high school, Paul Allen, and joined him at Honeywell in the summer of 1974. From there, the two friends decided to start their own software company, and Gates dropped out of Harvard in 1975 to focus on the business venture instead. In retrospect, it appears that this was the right decision.
Which presidential candidate did Warren Buffett support in 2008?
- Barack Obama
- John McCain
- Ralph Nader
- Ron Paul
Buffett endorsed Barack Obama in 2008 and contributed to his presidential campaign. In the second of their three presidential debates, both Obama and Senator John McCain mentioned Buffett as a person that they would each consider nominating for Secretary of the Treasury. Had McCain won the election instead of Obama, it is unlikely that he would have accepted the nomination, as he had claimed that the Arizona senator's views were so far removed from his own that McCain would need a "lobotomy" to change his endorsement.
What award did Bill Gates receive in 2005?
- Lorenzo Bandini Trophy
- Order of the British Empire
- Pulitzer Prize for Public Service
- Will Eisner Comics Industry Award
In 2005, Bill Gates was made an honorary Knight Commander of the Order of the British Empire (KBE) by Queen Elizabeth II. He received the award on the basis of both his business skills and his charitable work. That same year, he was the recipient of another rare tribute, when entomologists named the Bill Gates flower fly, Eristalis gatesi, in his honor.
What was Warren's Buffett's annual salary in 2006?
- $50,000
- $100,000
- $3,600,000
- $765,000,000
Despite his immense net worth, Buffett has always had a reputation for being frugal. A good example of this is his insistence on paying himself a great deal less than the average senior executive would receive in a comparable business. In 2006, this meant paying himself an annual salary of $100,000, considerably less than someone would expect a hypothetical Chairman & CEO of Berkshire Hathaway to make. Buffett also lives in the same house in the central Dundee neighborhood of Omaha that he bought for $31,500 in 1958.
Which celebrity appeared in a 2008 television commercial for Microsoft with Bill Gates?
- Burt Reynolds
- Jerry Seinfeld
- Justin Long
- Kanye West
In 2008, Gates appeared in one of a series of television commercials for Microsoft. The commercial takes place in a shopping mall and features comedian Jerry Seinfeld, who notices Gates in a shoe store, trying on shoes that don't fit. Seinfeld takes the opportunity to ask Gates burning questions about the future of personal computing, such as whether or not the Microsoft corporation is developing a way to make computers edible. As an inside joke, when Gates is paying for the shoes, he presents his discount card, which depicts the mugshot from his 1977 arrest.
Which tax did Warren Buffett defend in testimony to the Senate in 2007?
- Capital gains tax
- Carbon tax
- Estate tax
- Value-added tax
In 2007, Buffett offered testimony to the United States Senate in favor of upholding the estate tax. In the past, he had said that its repeal would be like "choosing the 2020 Olympic team by picking the eldest sons of the gold-medal winners in the 2000 Olympics." Buffett gets points for consistency, as his own children will only inherit a small amount of his fortune. As he once said on the Charlie Rose Show, "I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing."
Warren Buffett and Bill Gates are known as leaders in what type of charity?
- Legal defense
- Non-governmental organization (NGO)
- Non-profit organization (NPO)
- Venture philanthropy
Venture philanthropy (or philanthrocapitalism), takes principles from the field of venture capitalism and applies them to charitable giving. The Bill and Melinda Gates Foundation, which includes Buffett as a trustee, is based on this model, which is characterized by the long-term budgeting of funds, regular assessment of goals, and a willingness to abandon an approach in favor of a new one, if the old one isn't working.
What did Warren Buffett name his $10 million private jet?
- The Indefensible
- Oh The Humanity
- The Starship
- Warren Buffett's Airplane
Warren Buffett may have a long history of financial modesty, but even he couldn't resist the allure of conspicuous consumption during the 1980's, when he spent $10 million of Berkshire Hathaway's funds on a private jet. In naming it "The Indefensible," he offered a smirking acknowledgement that the purchase was inconsistent with both his preference for public transportation and his denunciation of spendthrift corporate culture.
Your score:
- TYCOON
Your knowledge is so comprehensive that you may need an offshore account to hold all of it. - SMALL BUSINESS OWNER
You have enough knowledge to stay afloat, but some more research should help you break out of your tax bracket. - INTERN
You have a lot of learning to do, but on the plus side, maybe some kindly magnate will offer you a charitable donation.
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