Warren Edward Buffett (born on August 30, 1930)[2 is an American business magnate, philanthropist and investor. He is the current Chairman and Chief Executive Officer at Berkshire Hathaway. He is among the top investors around the globe and has the wealth of more than $103 billion in August 2022. This makes the seventh-wealthiest person.
Buffett was born in Omaha, Nebraska. He was interested in investing and business in his early years and later enrolled at the Wharton School of the University of Pennsylvania in 1947. He then transferred to and finished his school at University of Nebraska at the age of 19. He then graduated at Columbia Business School and shaped his investment philosophy around the idea of Value investing, a concept which was developed by Benjamin Graham. He attended the New York Institute of Finance to further develop on his background in economics and shortly after began business alliances which included the one with Graham. He founded Buffett Partnership, Ltd in 1956. The company later bought a textile manufacturing company known as Berkshire Hathaway, changing its name to form a holding company that was diverse. The year 1978 saw Charlie Munger join Buffett as vice-chairman.
Buffett has been chairman and the biggest shareholders in Berkshire Hathaway since 1970. He is often referred to as”the “Oracle” or “Sage” of Omaha by the world’s media.He is renowned for his commitment to investing in value, as well as his personal thriftiness even in the face of immense wealth.
Buffett has been a generous philanthropist who has pledged to donate the 99.9% of his wealth to charitable causes, mostly through his Bill & Melinda Gates Foundation. He created the Giving Pledge in 2010 alongside Bill Gates, in which billionaires pledge to donate at least 50% of their wealth.
Buffett was born in the year 1930, at Omaha, Nebraska, the third child of three and the sole child of Leila (nee Stahl) and Howard Buffett. He began his studies through Rose Hill Elementary School. In 1942, Buffett’s father won his initial of the four-terms of the United States Congress and, after that, he moved and his entire family into Washington, D.C., Warren completed his elementary schooling, went to Alice Deal Junior High School and graduated from the then Woodrow Wilson High School in 1947. In 1947, the picture of his senior yearbook states: “likes math; a future stockbroker. “[15 After graduating from high school and having the success he had with his entrepreneurial side and investments, Buffett wanted to skip school to pursue a career in business, but was rejected by his father.
Buffett showed an interest in finance and investing from a young age. He was influenced by a book that he took from an Omaha public library at the age of seven. It was The One Thousand Methods of Earning $1000. 18 years ago A large portion of Buffett’s childhood were filled with entrepreneurial ventures. In his first businesses, Buffet offered chewing gums, Coca-Cola bottles as well as weekly magazines by door. He worked at the grocery store of his grandfather. When he was still studying in high school, he earned money by delivering newspapers, distributing stamps and golf balls, and also detailing cars, among other ways. In his first income taxes in the year 1944 Buffett claimed a deduction of $35 for using the bicycle in addition to the watch during his newspaper route.In 1945, while a sophomore in high school, Buffett and a friend paid $25 for an old pinball machine that they put in the local barbershop. Within a few months, they had three machines at three different barber shops in Omaha. The business was sold during the same year, for $1,200 to a veteran of the war.
Buffett’s passion for investing in the market for stocks and in investing dates back to his school years when he would spend in the customers lounge of the regional brokerage close to his father’s brokerage office. While visiting New York City at age 10, he made it an effort to go to the New York Stock Exchange. At 11, he bought three shares of Cities Service Preferred for himself, and three for his sister Doris Buffett (who also became a philanthropist) At 15, Warren made more than $175 monthly delivering Washington Post newspapers. While in high school, Warren made an investment in a company run by his father, and purchased 40 acres of land owned by the tenant farmer. The land was purchased at the age of 14 years young, with just $1200 in his savings. At the time he was finished with the college course, Buffett had accumulated $9,800 in savings (about $112,000 in today’s dollars).
The year 1947 was the time that Buffett was accepted into his first year at the Wharton School of the University of Pennsylvania. He was tempted to concentrate on his business ventures however, his father pushed him to enroll. The 20-year-old Warren was a student there for two years before joining the Alpha Sigma Phi fraternity. Then, he transferred to University of Nebraska where at 19 he received the degree of Bachelor of Science with a major in management. After being denied at the hands of Harvard Business School, Buffett enrolled at Columbia Business School of Columbia University upon discovering the fact that Benjamin Graham taught there. He was awarded the Master in Science of Economics at Columbia in 1951. Following his graduation, Buffett attended the New York Institute of Finance.