Warren Buffett Just Won a Million-Dollar Bet Just a normal, everyday occurrence for the billionaire philanthropist.

By Nina Zipkin

Getty Images

Warren Buffett is known for his financial savvy, so much so that he's not only making money off of his own investments, but raking in cash betting that his knowledge of the stock market exceeds that of others. After all, the Oracle of Omaha has been in the game for a while -- the 87-year-old first purchased stock when he was 11 years old.

In 2007, Buffett made a $1 million wager with a hedge fund manager named Ted Seides who works at a firm called Protégé Partners. Buffett bet that a low-cost S&P 500 index fund would fare better than a collection of a Protégé Partners hedge funds, and it seems that he was correct, a couple months ahead of schedule.

Related: 9 Warren Buffett Quotes That Will Teach You More Than Just Investing

The $1 million hedge fund investment has reportedly only earned $220,000 in 10 years, while Buffett's more frugal investment earned $854,000. Though the bet is technically up at the end of the year, it's not looking great for Seides -- bookmakers are putting his odds of winning at 3 percent.

Buffett currently has a net worth hovering around $76.5 billion, so $1 million is something of a drop in a very, very expensive bucket. But true to form, the famously philanthropic billionaire is putting his win toward a good cause: Girls Inc. of Omaha.
Nina Zipkin

Entrepreneur Staff

Staff Writer. Covers leadership, media, technology and culture.

Nina Zipkin is a staff writer at Entrepreneur.com. She frequently covers leadership, media, tech, startups, culture and workplace trends.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Innovation

4 Ways Market Leaders Use Innovation to Foster Business Growth

Forward-thinkers constantly strive to diversify and streamline their products and services, turning novelties into commodities desired by many.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

'More Soul-Crushing Than Ever': Popular Hiring Platform Finds Around 20% of Its Postings Were 'Ghost Jobs'

Is that job listing too good to be true? There's a one-in-five chance that it might be.

Growing a Business

5 Risk-Taking Lessons From Founders Who Bet Big and Won

Discover the bold moves and strategic risks that catapulted these entrepreneurs to success. Learn how their fearless decisions can inspire your own path to growth.

Business News

'Masculine Energy Is Good': Mark Zuckerberg Tells Joe Rogan He Thinks Companies Need More Aggression

On the most recent episode of "The Joe Rogan Experience," Meta CEO Mark Zuckerberg said corporate culture has become "neutered."