The Early Life of Warren Buffett
Warren Edward Buffett was born in Omaha, Nebraska, on August 30th, 1930. He was the second of three children born to his father, Howard Buffett, and his mother, Leila Stahl Buffett. Warren's father was a stockbroker and representative in Congress. His mother was a homemaker. Warren was an inquisitive and precocious child, and by the age of 11, he had already made his first investment. He purchased a six-pack of Coca-Cola for $2.50 and sold the individual cans for a nickel each, making a five cent profit.
At the age of 13, Warren had saved up $1200 from his various business ventures and used it to purchase 40 acres of land near his hometown. He then rented out the land to tenant farmers. By the time he was 15, Warren had doubled his money. At 17, he enrolled at the University of Pennsylvania's Wharton School of Business, where he studied economics and business. He graduated in 1951.
Warren Buffett's Early Career
After graduating from Wharton, Warren went to work at his father's brokerage firm. He was soon promoted to the position of general partner. In 1954, he moved to New York City to work as an analyst at Graham-Newman Corporation, a partnership led by famed investor Benjamin Graham. Warren quickly rose through the ranks, becoming a partner in 1956. He continued to work at the firm until 1960.
In 1956, Warren married Susan Thompson, with whom he had three children. In 1957, he made his first major investment in a textile manufacturing company called Berkshire Hathaway. He purchased the company for $8.3 million and was appointed to its board of directors. Over the next few years, Warren made several shrewd investments that increased his net worth significantly.
Warren Buffett's Rise to Fame
In the late 1960s, Warren began to get recognition as a successful investor. He made a series of investments in companies such as American Express, GEICO, and The Washington Post Company. He also began to write a series of investment books and articles that popularized his strategies. By the late 1970s, he had become a household name and was regularly featured on television shows.
In the 1980s, Warren continued to make savvy investments, such as purchasing large stakes in Coca-Cola, Gillette, and The Walt Disney Company. He was also a major shareholder in Capital Cities/ABC, which was acquired by Disney in 1996. His investments were so successful that he became known as the "Oracle of Omaha" for his ability to pick winning stocks.
Warren Buffett's Current Net Worth
Today, Warren Buffett is one of the wealthiest people in the world. His current net worth is estimated to be about $89 billion. Much of his wealth comes from his investments in Berkshire Hathaway, which is now a holding company for various business interests. He also owns shares in numerous other companies, such as Coca-Cola, Wells Fargo, and Apple.
In addition to his investments, Warren also earns money from his salary as the CEO of Berkshire Hathaway, as well as from his speaking engagements and books. He is a generous philanthropist, having donated billions of dollars to charitable causes. He is also an active investor in renewable energy and environmental causes.
Conclusion
Warren Buffett has come a long way since his early days as a stockbroker and investor. His savvy investments and business acumen have made him one of the wealthiest people in the world. His current net worth of $89 billion is a testament to his success. He is an inspiration to aspiring investors and entrepreneurs all over the world.