On this day, August 30 in the year 1930, the man hailed as the most successful stock investor was born in Nebraska, United States. His name is Warren Buffett, also known as the “Oracle of Omaha”. According to forbes.com, he is the 4th richest person on earth with a net worth of $82.4 billion as of August 30, 2020.
Warren Buffett is the son of a former congressman. He attended the Wharton School of the University of Pennsylvania but transferred to the University of Nebraska–Lincoln where he earned a degree in business administration. Later, he received a master’s degree in economics from the Columbia University. He also attended the New York Institute of Finance.
As a young boy, Warren Buffett engaged in business selling gums, newspaper, and installing pinball machines in barber shops. At age 11, he bought his first stock and at age 13, he filed his first tax return. He also worked in his grandfather’s store. At age 14, he was able to buy a 40-acre farm using his own money.
After college, Warren worked as an investment salesman, then as a security analyst, and later, as a general partner in Buffett Partnership, Inc. Meanwhile, he took up lessons in public speaking and taught during the night. In 1970, he became the controlling shareholder of Berkshire Hathaway Inc. and appointed himself chairman and CEO. At present, the company controls more than 60 companies that engage in almost every industry except gambling and pornography. He has sizable long term investments in blue chip companies such as Coca-Cola, IBM, Wells Fargo, Kraft-Heinz, General Motors, General Electric, Delta Airlines, John Deere and Apple.
Warren married twice. He has three children. For those who had invested in Berkshire in the 1970s at $275 a share, they could have sold the same share at $327,431 on August 31, 2020. On this day, the company was worth $520.98 billion.
To date, Warren Buffett has given more than $41 billion away for charitable purposes.
References
http://www.investopedia.com/university/warren-buffett-biography/warren-buffett-success-story.asp
http://www.businessinsider.com/warren-buffett-incredible-life-2017-1
https://www.forbes.com/profile/warren-buffett/