Warren Buffett

Warren Edward Buffett, an entrepreneur and investor, was born on August 30, 1930, in Omaha, Nebraska, USA, during the Great Depression. His father, Howard Buffett, was a stockbroker and member of the US Congress, and his mother, Leila Stahl Buffett, was a housewife.

Buffett has excelled in business and investment concerns from his childhood. His colleagues and acquaintances at the time referred to him as a mathematical miracle because of his capacity to accumulate massive amounts of data.

Throughout his childhood, Warren would frequently stop by his father's brokerage and scribble stock quotations on the board. When Warren was 11 years old, he purchased three shares in Cities Service for $38 each. Buffett held onto his shares so tenaciously despite the fast decline in share price to $27 until they were worth $40. Buffett made a tiny profit when he sold the shares, but he subsequently came to regret it when Cities Service's shares surged over $200. He has cited this event as a precursor to the need of developing patience when investing.

Buffett started his own company selling newspapers and horse racing advice when he was just thirteen years old. He submitted his first business tax return that year and claimed a tax deduction for his $35 bike.

Buffett and a friend bought a $25 pinball machine when they were still in high school. After installing the device in a barbershop, they quickly realized a sizable profit, which prompted them to purchase further equipment. Before selling them for $1,200, Buffett had gambling machines in three distinct locations.

Buffett enrolled at the University of Pennsylvania when he was sixteen to study commerce. After spending two years there, he relocated to the University of Nebraska to get his BA. At the time of his college graduation, he was twenty years old and had an estimated net worth of $10,000 from the proceeds of his childhood company.

Buffett was inspired by Benjamin Graham's book The Intelligent Investor, which made him decide to enroll in Columbia Business School before taking a class from this renowned investor and economist. After earning his master's degree in 1951, Buffett spent three years selling bonds for Buffett-Falk & Company before spending another two years working as a bond analyst for his mentor at Graham-Newman Corp.

In 1956, he established Buffet Partnership. He saw a direct investment opportunity in Berkshire Hathaway, a New England textile firm, in 1962. He changed it into a holding corporation with a variety of businesses. He presently serves as Hathaway's chairman and CEO. He has been the company's major shareholder since 1970. When Hathaway started trading in class A shares in 1990, Warren became a billionaire. Ironically, acquiring Berkshire is one of Buffet's biggest regrets also.

Value investing is the cornerstone on which Warren Buffet built his investing career. One well-known example of how he transformed small-scale acquisitions into huge ones is Berkshire Hathaway. Knowing little about textiles, he made an investment in Berkshire and eventually shifted the company's emphasis. Berkshire is now one of the largest conglomerates holding companies with business interests in several corporations.

His success story gives us the lesson that knowledge is always more important. It provides you the decision-making power which you can use in building a wealth of fortune. His life teaches us never to give up – if you make a small start, work hard to grow it into something significant, and do it with passion.

Here is a YouTube video about his success story:

References:

https://www.biography.com/business-figure/warren-buffett https://smartmoney.angelone.in/blog/warren-buffet-the-success-story-of-the-oracle-of-omaha/#:~:text=Buffet%20started%20his%20career%20as,into%20a%20diversified%20holding%20company.

Done by: 

 Yasmin zeidan