They later sold the business to a war veteran for a tidy sum of $1200. Within months, they owned several machines in three different barber shops across Omaha. In 1945, as a high school sophomore, Buffett and a friend spent $25 to purchase a used pinball machine, which they placed in the local barber shop. On his first income tax return in 1944, Buffett took a $35 deduction for the use of his bicycle and watch on his paper route. While still in high school, he made money delivering newspapers, selling golf balls and stamps, and detailing cars, among other means. He worked in his grandfather's grocery store. In one of his first business ventures, Buffett sold chewing gum, Coca-Cola, and weekly magazines door to door. Much of Buffett's early childhood years were enlivened with entrepreneurial ventures. He was inspired by a book he borrowed from the Omaha public library at age seven, One Thousand Ways to Make $1000. īuffett showcased an interest in business and investing at a young age. After finishing high school and finding success with his side entrepreneurial and investment ventures, Buffett wanted to skip college to go directly into business but was overruled by his father. In 1942, his father was elected to the first of four terms in the United States Congress, and after moving with his family to Washington, D.C., Warren finished elementary school, attended Alice Deal Junior High School and graduated from what was then Woodrow Wilson High School in 1947, where his senior yearbook picture reads: "likes math a future stockbroker". He began his education at Rose Hill Elementary School. Warren Edward Buffett was born on Augin Omaha, Nebraska, as the second of three children and the only son of Leila (née Stahl) and Congressman Howard Buffett. He founded the Giving Pledge in 2010 with Bill Gates, whereby billionaires pledge to give away at least half of their fortunes. īuffett has pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Bill & Melinda Gates Foundation. He is noted for his adherence to the principles of value investing, and his frugality despite his vast wealth. He has been referred to as the "Oracle" or "Sage" of Omaha by global media as a result of having accumulated a massive fortune derived from his business and investment success. Since 1970, Buffett has presided as the chairman and largest shareholder of Berkshire Hathaway, one of America's foremost holding companies and world's leading corporate conglomerates. In 1978, fellow investor and long-time business associate Charlie Munger joined Buffett as vice-chairman. Buffett emerged as the company's chairman and majority shareholder in 1970. in 1956 and his investment firm eventually acquired a textile manufacturing firm, Berkshire Hathaway, assuming its name to create a diversified holding company. He later began various business ventures and investment partnerships, including one with Graham. He attended New York Institute of Finance to focus on his economics background and soon pursued a business career. He went on to graduate from Columbia Business School, where he molded his investment philosophy around the concept of value investing pioneered by Benjamin Graham. He entered the Wharton School of the University of Pennsylvania in 1947 before graduating from the University of Nebraska at 19. The son of US congressman and businessman Howard Buffett, he developed an interest in business and investing during his youth. As of December 2023, he had a net worth of $120 billion, making him the seventh-richest person in the world. As a result of his immense investment success, Buffett is one of the best-known investors in the world. He is currently the chairman and CEO of Berkshire Hathaway. Warren Edward Buffett ( / ˈ b ʌ f ɪ t/ BUF-it born August 30, 1930) is an American businessman, investor, and philanthropist.
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