Yes, this is the real Warren Buffett with his college friend Don Danley (or Bob Danley). Next to them is a 1928 Springfield Rolls-Royce Phantom I with a Brewster body (Wimbledon Coupe), which they bought for about $300-350. The car was old and even damaged, but they invested in its repair, drove it and took pictures next to it.
We are all used to seeing the modest, slightly shy grandfather with a fortune of about $169 billion, but in his youth he was a very funny brawler