In 1930, Warren Buffett was born in Omaha, Nebraska. He is the only son of the American representative Howard Buffett and the second of three children. In 1942, Buffett began his education at Rose Hill Elementary School in Omaha, while at the same time his father was elected to his first term in the U.S. Congress. Buffett and his family, Washington D.C. Gone and Warren finished his primary school there.
THEIR EARLY DAYS.
Warren Buffett attended Alice Deal Junior High School and then Woodrow Wilson High School, where he graduated in 1947. His father was a brokerage company, and perhaps he had burnt the fire in the young Warren. His annual book states that he will be “future shareholder”. As a young person, he took interest in saving and making money. He sold Coca-Cola, weekly magazines and chewing gum door to door. He also worked at his grandfather’s grocery store. In high school, they sell golf balls, distribute newspapers, give details of cars and sell tickets. For his first tax return, he cut his watch and bicycle, which he used to cut a $ 35 paper on paper. In 1945, while in school, he bought a pinball machine with a friend and he put it in a barber shop. After several months, they had many machine sin barber shops.
His interest in the stock exchange was when he was very young and even visited the New York Stock Exchange at the age of ten. At the age of 11, he used his money and bought three shares of City Service and gave three shares to his sister. He invested in a business in his father’s high school and purchased a farm. By 1950, at the age of 19, he graduated with a Bachelor of Science degree in Business Administration. In 1951 he earned the Master of Science in Economics and also attended the New York Institute of Finance.
BUISNESS AND CAREER.
From 1951-54, he was employed in Buffett-Folk & Company, where he was an investment salesman. He also worked in Graham-Newman Corp, and Buffett Partnership, Ltd., Omaha. He is a partner in Berkshire Hathaway Inc. from 1970 and is now the President. In 1950, at the age of 20, he saved nearly $ 9,800, which is about $ 94,000 in today’s money. He met Lorimer Davidson of GEICO Insurance and both of them would become friends with a big influence with Davidson.
He went back to Omaha and worked as a stockbroker and taught a class on investment principles in Nebraska-Omaha. He bought Texaco Gas Station but it did not succeed. He married Susan Thompson in 1952 and worked in Graham-Newman Corp. By 1956 they had a personal savings of $ 174,000 and started the Buffett Partnership Limited, an investment partnership. In 1957 he had three participations in operation. Their partnership became seven in 1960.
By 1962, he was already a millionaire due to his partnership. In 1962, they merged all their partnerships together. They bought a large stake in it and took control of Berkshire Hathaway, a textile manufacturing firm. Buying a company was one of the worst investments in the billionaires because the company was going to be bankrupt, at least its textile business But what happened that Warren turned the company into a financial institution? In this way his famous fund – Berkshire Hathaway was born. In 1970 he became the president of the business. By 1979, due to their investments, they had a net worth of $ 620 million and they hit Forbes 400 list. They have many deals in the coming years, including a 7% share of Coca-Cola Company’s $ 1.1 billion.