Warren Buffett

Warren Buffett is an example for a successful business man in America. Not only is he a business man, he is also an investor and a philanthropist. He is also the the primary shareholder and CEO of Berkshire Hathaway, a conglomerate holding company headquartered in Omaha, Nebraska, U.S.

Buffet, with his wealth worth US$40 billion, was identified to be the second richest man in the United States in the year 2009 after donating billions of dollars to charity. He was previously (in 2008) ranked, by Forbes, as the richest man in the United States with a net worth of US$62 billion.

Childhood: Buffett was already an entrepreneur from his childhood days. At the tender age of six, Buffett bought 6-packs of Coca Cola from his grandfather’s grocery store for twenty-five cents and sold them at a Nickel each, making a five cent profit from each sale. He earned money while other children were playing and having fun.

At eleven, Buffett and his sister purchased three shares of Cities Service at $38 per share. It soon fell to about $27 per share. Being persistent, Buffett held on to his shares until they rose to $40 per share, where he was hasty in selling them. Unfortunately, Cities Service soon peaked at $200 per share. He soon learnt the importance of patience.

In 1962, Buffett became a millionaire, because of his partnerships, which in January 1962 had an excess of $7,178,500, of which over $1,025,000 belonged to Buffett. Buffett merged all partnerships into one partnership. Buffett discovered a textile manufacturing firm, Berkshire Hathaway. Buffett's partnerships began purchasing shares at $7.60 per share. In 1965, when Buffett's partnerships aggressively began purchasing Berkshire, they paid $14.86 per share while the company had working capital of $19 per share. This did not include the value of fixed assets (factory and equipment). Buffett took control of Berkshire Hathaway at the board meeting and named a new president, Ken Chace, to run the company. In 1966, Buffett closed the partnership to new money.

Steve Wynn

Steve Wynn was raised in New York, and graduated from The Manlius School, a private boys' school east of Syracuse, New York, in 1959. He studied cultural anthropology and English literature at the University of Pennsylvania.

Steve Wynn took over running the family's bingo operation in Maryland. He did well enough at it to accumulate the money to buy a small stake in the Frontier Hotel and Casino in Las Vegas, where he and his wife Elaine moved in 1967. Between 1968 and 1972 Wynn also owned a wine and liquor importing company. He managed to parlay his profits from a land deal in 1971 (the deal involved Howard Hughes and Caesars Palace) into a controlling interest in the landmark downtown casino, the Golden Nugget Las Vegas (he also owned The Golden Nugget in Atlantic City, New Jersey). Wynn renovated, revamped and expanded the Golden Nugget from a gambling hall to a resort hotel and casino with enormous success, in the process attracting a new upscale clientele to downtown Las Vegas.

The Mirage, Treasure Island and Bellagio

Wynn had previously acquired interests in various existing casinos. His first major Strip casino, The Mirage, which opened in 1989, set a new standard for size and lavishness, with construction costs to match. The Mirage featured an indoor forest and an outdoor "volcano", and with high-quality room appointments and an emphasis on service, The Mirage was another great success. The Mirage was the first project in which he was involved in the design and construction of a casino. The $630 million cost to build The Mirage was financed largely with junk bonds issued by Michael Milken. The Mirage was considered a risky venture by the standards then prevailing in Las Vegas because of its high cost and emphasis on luxury. However, it proved to be enormously successful and made Wynn a major part of Las Vegas history.

Wynn's next project was Treasure Island Hotel and Casino. It opened in 1993 at a cost of $450 million. With its live pirate show and location next to the Mirage, Treasure Island was another success for Wynn. The Cirque du Soleil show at the Treasure Island was the first permanent Cirque du Soleil show in Las Vegas.

Wynn expanded further on his concept of the luxury casino with Bellagio, a $1.6 billion resort, including an artificial lake, indoor conservatory, a museum-quality art gallery and branches of high-end boutiques and restaurants from Paris, San Francisco and New York City. The architect was the famous American Jon Jerde of The Jerde Partnerships. When built, Bellagio was the most expensive hotel in the world. The Bellagio is credited with starting a new spree of luxurious developments in Las Vegas. Among these developments include The Venetian, Mandalay Bay, and Paris Las Vegas.

Beau Rivage

He also designed and built a luxury resort, the Beau Rivage, in Biloxi. Beau Rivage was originally the name he wanted to give to the Bellagio. He then went to Italy on vacation and decided Bellagio was a better name for the hotel.