Early Life
In Omaha, Nebraska, Warren Buffett was born on August 30, 1930. Howard Buffett’s only son, Leila Buffett, is the second of three children he has with Leila. Rose Hill Elementary School was where Buffett began his formal education. At a young age, Buffett became interested in business and investing. At the tender age of seven, he was inspired by a book entitled “One Thousand Ways to Make $1000” borrowed from the library.
As a preteen, Buffett began making his imprint on the world and amassing his riches. In a lunch meeting with a New York Stock Exchange executive when he was ten years old, he began formulating his life’s ambitions. After that meal, young Buffett made up his mind that he wanted to make a career out of investing. The next year, at the age of 11, he made his first stock purchase. A paper route earned him enough money to buy some farms in Oklahoma. The pinball machine business he started as a sophomore in high school netted him about $6,000 at the time—equivalent to $60,000 in today’s dollars.
During World War II, his father was elected to the United States Congress, and Warren attended Alice Deal Junior High School and Woodrow Wilson High School, where his graduation yearbook image reads, “likes math; a future stockbroker,” after moving to Washington, D.C.
Buffett enrolled in the University of Pennsylvania’s Wharton School in 1947. Warren was a member of the Alpha Sigma Phi fraternity for two years while he was a student at the university. After that, he went on to the University of Nebraska, where he earned a degree in Business Administration with a Bachelor of Science. To get into Harvard Business School, Buffett applied and was turned down. Buffett went to Columbia Business School. In 1951, he graduated from Columbia University with a Master of Science in Economics.
Career
For his family’s company Buffett-Falk & Co., he worked as an investment salesman after graduating from Columbia University. After teaching “Investment Principles” at the University of Nebraska-Omaha, he went on to buy an oil company. Despite the failure of the petrol station, Benjamin Graham, a well-known businessman, investor, and former student of Warren Buffet, had taken notice of his financial skills.
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Warren Buffett left Buffet-Falk & Co. to work for the Graham-Newman Corp. as a securities analyst While working with Graham for four years, Buffett discovered he was more willing than his employer to take investing risks. During his time working for Graham-Newman, Buffett saved almost $174,000 (approximately $1.47 million today) and formed Buffett Partnership Ltd. He expanded his business from three partners to six in the next three years. Over the next two years, that sum more than doubled, and by 1962, he had amassed a tidy million dollars.
Buffett initiated a series of aggressive investments, takeovers, and restructuring operations after investing in and eventually taking over textile producer Berkshire Hathaway. In addition, he enhanced his status as an investor to keep an eye on and a close eye. Everything he touched seemed to turn to gold. He had a talent for finding undervalued firms and then profiting from their rise in value.
After opening at $775 in 1979, his company’s shares closed in 1979 at $1310. He had a net worth of $620 million by the early 1980s, earning him the moniker “Oracle of Omaha.” He invested in a variety of firms, including the Washington Post Company, Capital Cities, Salomon Brothers, and Coca-Cola. His Berkshire Hathaway shares were valued at $7,175 each in 1990, making him a billionaire.
When it comes to investing, Warren Buffett is known for putting his money where his mouth is. Fruit of the Loom, for example, is owned by him due to the quality and style of their clothing. Warren made waves when he invested in the Chinese firm Trands Co. because he was obsessed with a certain brand of suit. With Hu Jintao and Bill Gates both admirers, Trends isn’t the only high-profile brand that’s making waves.
Additionally, Berkshire Hathaway CEO Warren Buffett filmed a video to celebrate Trands’ 30th anniversary and gushed about his nine suits in the process. The cherry on top? He claims to have requested a bill, but Buffett has not paid for his entire wardrobe, even though the most basic Trands suit costs $880.
Personal Life
He developed a crush on Susan Thompson, a young woman who had a boyfriend who played ukulele, in 1949. He got a ukelele to try to keep up, and he’s been playing it nonstop ever since. In 1952, Buffett and Thompson wed. Susie, Howard, and Peter were the names of their three children. Susan relocated to San Francisco in 1977 to pursue a singing career, although the couple stayed married until Susan died in 2004.
Astrid Menks, who had been living with Buffett since his wife relocated to San Francisco, was 60 when he married her on his 76th birthday in 2006. Even before she departed Omaha, Susan set up an opportunity for the two to meet. “Warren, Susie, and Astrid” was the signature on Christmas cards sent to friends by the three of them.
For as many games as his schedule allowed, he goes to every University of Nebraska football game.
The desk of Warren Buffet does not contain a computer. A flip phone is what he prefers to use instead of an iPhone or an Android. He’s also only ever emailed one person–Jeff Raikes at Microsoft.
Buffett has a reputation for being a notoriously unhealthy eater who drinks a lot of Coca-Cola. He has stated: “Coca-Cola makes up a quarter of my daily caloric intake if I eat 2,700 calories. Every day, I consume at least five 12-ounce servings of the beverage. Every day, I do it.” Buffett is rumored to have had ice cream for breakfast on more than one occasion.
It was in 2010 that he founded The Giving Pledge, a movement that invites the world’s richest to give up the bulk of their fortune to charitable causes.
Wealth Details & History
Berkshire Hathaway, in which he owns an 18% stake, is the source of Buffett’s fortune. Berkshire Hathaway’s stock price rose by an average of 20.8 percent every year from 1965 to 2016. Roughly 300,000 of the company’s Class A shares and nearly 150,000 of its Class B shares are held by Buffett. Aside from Wells Fargo and Seritage Growth Properties, he holds roughly 900,000 shares of U.S. Bancorp and another 9,000 shares of IBM. Even with all of those investments, his Berkshire Hathaway stock still accounts for over 98% of his total net worth, according to one estimate. During the summer months, he gives away 5% of his goods to charity.
When Buffett was just 21 years old, he had $20,000 (today’s equivalent of $191,175.93). When he was 30 years old, he made his first million dollars ($8.1 million today). Five years later, when Buffett was 35 years old, he had a net worth of $7 million. He had $25 million in his bank account when he was 39 years old.
At the age of 47, he had accumulated a fortune of $67 million. Buffett had a net worth of $1.4 billion when he was 56 years old, making him the oldest self-made billionaire in history. That’s when he truly started to amass his fortune. By the time he was 66, Buffett had accumulated $17 billion in wealth. That had risen to more than $36 billion by the time he was 72. Buffett’s fortune increased by $12 billion in 2016.
The vast majority of Warren Buffett’s fortune was amassed after the age of 50.
Real Estate
In 1956, Buffett purchased a five-bedroom mansion in Omaha, Nebraska, for $31,500, and he still resides there today. In the same neighborhood now, a house costs around $2 million.
Warren Buffett Net Worth
One of the world’s wealthiest individuals, Warren Buffett is widely regarded as one of the greatest investors of all time. Warren Buffett net worth is $113 billion as of this writing.
It is widely accepted that Warren Buffett is the most well-known and successful investor of all time. If you’d put $10,000 into Warren Buffett’s company in 1966, you’d be sitting on $160 million now. It would take a $10,000 investment in the S&P to generate $140,000 in profit.
Before he passes away, Warren Buffett plans to donate 99 percent of his fortune to charity. Bill Gates’ foundation will receive a big share of that money. Buffett’s philanthropy has motivated other billionaires to donate at least 50 percent of their net worth to charity in their lives, a truly extraordinary accomplishment.
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