Wide diversification is only required when investors do not understand what they are doing.

In 1998 in an unusual move he acquired General Re (Gen Re) for stock. Buffett was raised Presbyterian but has since described himself as agnostic. Buffett has written several times of his belief that in a market economy the rich earn outsized rewards for their talents:

His children will not inherit a significant proportion of his wealth.

He is widely considered the most successful investor of the 20th century. Buffett is the primary shareholder chairman and CEO of Berkshire Hathaway and consistently ranked among the world's wealthiest people.