Want to know the Alchemy of turning stone into gold? Get yourself hooked up with the story of the “Wizard of Omaha.” Yes, we are talking about none other than Warren Buffett, the king of investment. A business tycoon, an investment stalwart, and a philanthropist at heart, Warren Buffett’s recipe of cooking a success story is comprised of an idea, planning strategy, and perseverance with a little bit of frugality.
He is counted among the top 10 wealthiest people on the face of the earth. Let us dig into the Warren Buffet saga of selling chewing gums to owning companies par excellence, and creating billions and billions of net worth in 2019.
Early Life & Biography:
Warren Buffett born to Congressman Howard Buffett and Leila Stahl Buffett on 30th of August in the year 1930 in Omaha, Nebraska, USA has seen 88 springs of his life. His early education began at the Rose Hill Elementary School. He passed out from Woodrow Wilson High School in 1997.
Though reluctant to carry forward with his studies and eager to join the business world, he took admission in Wharton School of the University of Pennsylvania. He dropped after two years of education from the same. He moved to his native place and got a B.Sc. degree in Business Administration from the University of Nebraska at the tender age of 19. Later on, he entered Columbia Business School of Columbia University leading to a Master of Science Degree in Economics. His interests in finance led him to New York Institute of Finance.
Warren Buffett said “I DO” to Susan Buffett in 1952. He fathered three children: Susie, Howard, and Peter. The couple separated from 1977 onwards although they didn’t take divorce. Susan Buffett passed away in July 2004. He exchanged wedding vows with Astrid Menks, his live-in partner, in 2006. He cut away and renounced his son Peter’s adopted daughter, Nicole as he had done a documentary titled “The One Percent” highlighting the ever-increasing gap between the haves and have-nots. It was quite a family stir.
Career, Awards, and Achievements
Warren had an affinity for making money since childhood. When at his age children were chewing gums, he made money by selling them. He sold newspapers and magazines going door to door. The book “One Thousand Ways to Make $1000″ left a long-lasting impression on little Warren. Still, as a teenager, he installed pinball machines at a barber’s shop. When most kids nag their parents for ice-cream, bicycles, and cellphones, Warren at the age of 14 owned 40-acres of farmland.
Warren held different positions ranging from an investment salesman in Buffett-Falk & Co. from 1951 to 1954 to that of a security analyst at Buffett Partnership Ltd. from 1956 to 1969. Warren Buffett in 1970 became the CEO of Berkshire Hathaway Inc. He is an avid investor. In 1973, he started buying stocks in the Washington Post Company. In 1987, Warren became the director of Salomon Inc. He held 7% stock in The Coca-Cola Company in 1988. All his investments have proved to be substantial money spinners. The then President of the United States, Barrack Obama, awarded him with the Presidential Medal Of Freedom in 2011. He also figured in the list of Time’s 100 Most Influential People in the world in 2007.
Net Worth & Earning
In the Forbes ranking of the wealthiest people in 2008, Warren held the number one position with $62 billion. Warren Buffett worshiped as the “Oracle of Omaha” has a net worth of $90.5 billion in 2018. Well, that is a hell lot of money. He still lives in the same residence that he bought way back in 1958 for a sum of $31,500. Isn’t that amazing? Even though he is crazy rich, he is not promiscuous about wealth. He owns Berkshire Hathway that comprises of more than 60 companies such as the insurer Geico, battery maker Duracell and restaurant chain, Dairy Queen. Together with Zuckerberg and Bill Gates he has pledged to give away more than half of his wealth in philanthropy.
Warren Buffett’s success story is not a matter of sheer dumb luck but that of transforming ideas into success with the help of constant perseverance. He took the opportunities and challenges on his chin. He has vowed to change the society around him through his generous philanthropy.