Legendary Investor : Warren Buffett, the Oracle of Omaha

Warren was born in Omaha, Nebraska, United States on August 30, 1930. His interest in the investment world began to emerge from a young age.

He attended the Wharton School of the University of Pennsylvania business school in 1947. At the age of 19, he transferred to the University of Nebraska. He continued and graduated from Columbia Business School.

Warren printed his investment philosophy using the concept of investment value initiated by Benjamin Graham. He entered the New York Institute of Finance to enrich his economics background.

Warren created the Buffett Partnership, Ltd. in 1956. Warren Buffett’s company eventually acquired a textile manufacturing company called Berkshire Hathaway. The company becomes the holding company.

In 1978, Charlie Munger joined as Deputy CEO of Berkshire Hathaway. Warren himself became CEO and largest shareholder since 1970. He was given the nickname Oracle of Omaha from the global media.

Warren is known for his observance of investment values ​​and the simplicity of his life, despite being extraordinarily wealthy.

Warren is also known as a philanthropist. He gives 99 percent of his wealth to philanthropic work, primarily through the Bill & Melinda Gates Foundation.

Warren founded The Giving Pledge in 2009 with Bill Gates. Through the foundation, billionaires can channel at least half of their wealth. Warren was elected to the American Philosophical Society in 2009.

Childhood and First Business

Warren since childhood showed his interest in the world of investment and business. He was inspired by a book he borrowed from the public library in Omaha, One Thousand Ways to Make $1000.

Warren tried a small business from a young age. His first business was selling chewing gum, Coca-cola, and magazines door to door.

He worked at his grandfather’s department store. In high school, Warren was selling newspapers.

In 1945, in their sophomore year of high school, Buffett and a friend spent $25 on a pinball machine stationed at a local barbershop. Within a few months, they had a number of pinball machines placed in various barbershops. The growing business was resold for $1,200.

At the age of 11, Warren bought three shares of Cities Service. He also bought three more for his sister, Doris Buffett. At the age of 15, Warren was earning $175 per month working as a deliveryman for the Washington Post newspaper.

In high school, he invested in his father’s business. Warren bought a farm that a worker worked on. He bought the land at the age of 14 with $1,200 in his savings.

By the time he finished college, Warren had $9,800 in savings, or the equivalent of $107,000 today.

Business Career

From 1951 to 1954 Warren worked at Buffett-Falk & Co as an investment salesman. From 1954 to 1956 worked at Graham-Newman Corp. as a securities analyst.

Then from 1956 to 1969 at Buffett Partnership Ltd. Then in 1970 he became the CEO of Berkshire Hathaway.

In 1951, Warren returned to Omaha. There he became a stockbroker.

At the same time he took a public speaking course at Dale Carnegie. With the capital he has, Warren is confident enough to teach Principles of Investing in evening classes at the University of Nebraska-Omaha.

The average age of his students was twice that of Warren himself. During this time he also bought a gas station investment in Sinclair, but to no avail.

In 1952, Warren married Susan Thompson. The following year they had a daughter, Susan Alice.

In 1954, Warren accepted a job offer from Benjamin Graham. His starting salary was $12,000 per year or the equivalent of $116,000 today. In the same year Warren was blessed with his second child, Howard Graham.

In 1956, Benjamin Graham retired and closed his company. By this time personal savings were already as much as $174,000 or the equivalent of $1.66 million today. He also started Buffett Partnership Ltd.

By 1957 Warren was running three companies. He bought a house in Omaha for $31,500. In 1958, their third child was born, Peter Andrew.

Furthermore, Warren runs five companies. By 1959, his company had grown to six. He also met Charlie Munger who would become his future business partner.

In 1962 Warren became a billionaire because of his companies. In that year the company was valued at $7,178,500. Buffett himself has a share of $1,025,000. The entire company was then merged into one.

Warren invested and eventually took over the manufacturing company Berkshire Hathaway. After being managed for three years, he became the largest shareholder.

Warren also owns 7 percent of Coca-Cola Co. He invested $1 billion in the soft drink company. His investment grew 16 k

Warren earns about 11 percent a year from Coca-Cola Co alone. It was the best investment he had ever made.

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