The man is Warren Buffett.
REUTERS/Rick Wilking
Warren Buffet was once tried to kidnap and hold him for a fee. The incident woke him up to the risks of being rich and famous, spurred him to invest in heavy-duty security and surveillance equipment, and may explain why he doesn't pinch pennies when it comes to his personal security.
The author of "The Snowball: Warren Buffet and the Business of Life" said that by the mid- 1980s, the shrewd stock purchases and business deals of the investor were paying off handsomely. In 1985, Forbes included the investor in its list of the 400 wealthiest Americans for the first time, and he was one of only 14 billionaires.
The CEO of the company became a target for criminals. Two men, one armed with a replica of a handgun, showed up at the office building of billionaire investor Warren Buffet in 1987.
The pair planned to abduct the investor and demand $100,000 for his safe return.
Security guards and the police stopped the plot, but it rattled the people around him. The chief of the state of Berkshire had a metal door and a security camera to protect his office, even though he rejected the idea of a personal bodyguard.
According to company filings, the average amount of money spent on personal and home security by the company since 2008 is $339,000 a year, because of the memory of the gun-wielding kidnapper. The frugal investor has happily collected a $100,000 annual salary for more than 40 years, but he hasn't skimped on keeping himself safe.
Business Insider has an original article.
