one of the world’s wealthiest the most
charitable individuals Warren Buffett
needs no introduction you know him as
the chairman CEO and largest shareholder
of the multinational conglomerate
Berkshire Hathaway but do you know who
the Oracle of Omaha was before he was a
billionaire for valued tainment media
I’m Gerard heron and this is before they
were billionaires
born August 30th 1930 Warren Edward
Buffett was the second of three children
and the only son of Howard and Leila
Buffett
his father was a four-term US
congressman Buffett began his education
in Rose Hill Elementary School 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 DC Warren finished elementary
school attending Alice Deal Junior High
School and graduated from Woodrow Wilson
High School in 1947 where his senior
yearbook picture reads likes math a
future stockbroker Buffett displayed an
interest in business and investing at a
young age he was inspired by a book he
borrowed from the Omaha Public Library
at the age of seven one thousand ways to
make one thousand dollars much of
Buffett’s early childhood years were
enlivened with entrepreneurial ventures
in one of his first business ventures
Buffett sold chewing gum Coca Cola
bottles and weekly magazines
door-to-door as a soda and little Wayne
would say Buffett hustled hard postal
drew mr. Horry
he worked at his grandfather’s grocery
store while still in high school he made
money delivering newspapers selling golf
balls and stamps and detailing cars
among other means 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 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 barbershop now of course this is
1945 so it could also be like that’s
like worth $3,000 I could be a lot of
money or not I really don’t know it’s
just a– for inflation within months
they owned several machines and three
different barber shops across Omaha the
business was sold later in the year for
$1,200 to a war veteran Buffett’s
interest in the stock market investing
dated to schoolboy days he spent to the
customers lounge of a regional stock
brokerage near his father’s own
brokerage office on a trip to New York
City at age 10 he made a point to visit
the New York Stock Exchange at the
tender age of 11 he bought three shares
of city service preferred for himself
and three for his philanthropic sister
doors at the age of 15 Warren made more
than a hundred and seventy five dollars
monthly delivering Washington Post
newspapers
in high school he invested in a business
owned by his father and bought a 40-acre
farm worked by a tenant farmer he bought
the land when he was 14 years old with
twelve hundred dollars of his own
savings as I speak to you right now 32
years old but I got credit by the time
he finished college Buffett that
accumulated ninety eight hundred dollars
in savings over a hundred thousand
[Music]
he was plus one hundred thousand by the
time he was done with college most kids
today are less than a hundred thousand
they have debt a hundred thousand debt
if you don’t believe me watch this video
that we did on student loan debt in 1947
buffett entered the prestigious Wharton
School of Business at the University of
Pennsylvania he would have preferred to
focus on his business venture however he
enrolled due to the pressure from his
father Warren studied there for two
years enjoying the Alpha Sigma Phi
fraternity he then transferred to the
University of Nebraska where nineteen he
graduated with a Bachelor of Science and
Business Administration
shout out to Tommie Frazier and Nebraska
Cornhuskers after being rejected by the
Harvard Business School buff enrolled at
Columbia Business School at Columbia
University upon learning that Benjamin
Graham taught there he earned a master’s
of science and economics from Columbia
in 1951 and after graduating buffin
attended the New York Institute of
Finance he worked at his father’s
company Buffett Falken company from 1951
to 1954 as an investment sales this
showed one of the Stute Investor he was
he was appointed at the starting salary
of twelve grand a year at Benjamin
Graham’s partnership in 1954 his boss
was a difficult man to work with and
expected strict adherence to
conventional rules of investing which
Buffett’s young mind questioned when
Benjamin grand retired and closed his
partnership in 1956 Warren had already
amassed a large personal savings account
with which he opened buffett partnership
limited an investment partnership in
Omaha Nebraska
he started operating to several under
partnerships and by the end of the
decade he had seven partnerships
operating he became a millionaire in
1962 as a result of all of his earnings
from all of his partnerships he then
merged all of those partnerships into
one and invested in a textile
manufacturing firm called Berkshire
Hathaway
he began purchasing the shares of
Berkshire Hathaway aggressively door in
the early 1960s and eventually took over
control of the entire company during the
late 1960s he shifted the business from
textile into the insurance sector and by
1985 the last of the textile mills under
Berkshire Hathaway had been sold off
making Warren Buffett officially a
billionaire in the years to come Buffett
with diversified Berkshire Hathaway
purchasing a 12% stake and Salomon
incorporated in 1987 and becoming its
largest shareholder he also bought stock
and a young company called coca-cola in
1988 eventually purchasing up to 7% of
coca-cola for just a shade over a
billion dollars and what would prove to
be one of the best Berkshire Hathaway
investments of all time he entered an 11
billion worth of forward contracts to
deliver US dollars against other
currencies in 2002 in June of 2006
Buffett made an announcement that he
would gradually give away 85 percent of
his Berkshire holdings to five
foundations the largest contribution of
which would go to the Bill and Melinda
Gates Foundation in 2008 he became the
richest man in the world with a total
net worth estimated over 62 billion by
Forbes overtaking Bill Gates who had
been number one on the Forbes list for
the 13 previous years it was short-lived
however as the very next year Gates
regained the first position and Buffett
moved back to second place in 2011 he
was presented with the Presidential
Medal of Freedom by President Barack
Obama and is nearly universally
considered the most successful investor
of the 20th century as well as one of
the most charitable philanthropists of
our times so that’s the story of how
Warren Buffett became a billionaire for
value tame and media I’m Gerard Haren if
you want to see the rest of before they
were billionaires click on this playlist
right here and if you’re interested in
learning how another billionaire
investor got his start Patrick but David
has an unbelievable interview with Mark
Cuban that you can watch right here
thanks everybody and see you next week
you know you know what you don’t see
anywhere here folks Warren Buffett
hasn’t gotten laid yet alright not not
yet he’s nerd he’s geek after being
rejected by Harvard Business School
bidness did I really just say bidness
and if you want to see how other
billionaires words lots of words what words are neither
charitable individuals Warren Buffett
needs no introduction you know him as
the chairman CEO and largest shareholder
of the multinational conglomerate
Berkshire Hathaway but do you know who
the Oracle of Omaha was before he was a
billionaire for valued tainment media
I’m Gerard heron and this is before they
were billionaires
born August 30th 1930 Warren Edward
Buffett was the second of three children
and the only son of Howard and Leila
Buffett
his father was a four-term US
congressman Buffett began his education
in Rose Hill Elementary School 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 DC Warren finished elementary
school attending Alice Deal Junior High
School and graduated from Woodrow Wilson
High School in 1947 where his senior
yearbook picture reads likes math a
future stockbroker Buffett displayed an
interest in business and investing at a
young age he was inspired by a book he
borrowed from the Omaha Public Library
at the age of seven one thousand ways to
make one thousand dollars much of
Buffett’s early childhood years were
enlivened with entrepreneurial ventures
in one of his first business ventures
Buffett sold chewing gum Coca Cola
bottles and weekly magazines
door-to-door as a soda and little Wayne
would say Buffett hustled hard postal
drew mr. Horry
he worked at his grandfather’s grocery
store while still in high school he made
money delivering newspapers selling golf
balls and stamps and detailing cars
among other means 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 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 barbershop now of course this is
1945 so it could also be like that’s
like worth $3,000 I could be a lot of
money or not I really don’t know it’s
just a– for inflation within months
they owned several machines and three
different barber shops across Omaha the
business was sold later in the year for
$1,200 to a war veteran Buffett’s
interest in the stock market investing
dated to schoolboy days he spent to the
customers lounge of a regional stock
brokerage near his father’s own
brokerage office on a trip to New York
City at age 10 he made a point to visit
the New York Stock Exchange at the
tender age of 11 he bought three shares
of city service preferred for himself
and three for his philanthropic sister
doors at the age of 15 Warren made more
than a hundred and seventy five dollars
monthly delivering Washington Post
newspapers
in high school he invested in a business
owned by his father and bought a 40-acre
farm worked by a tenant farmer he bought
the land when he was 14 years old with
twelve hundred dollars of his own
savings as I speak to you right now 32
years old but I got credit by the time
he finished college Buffett that
accumulated ninety eight hundred dollars
in savings over a hundred thousand
[Music]
he was plus one hundred thousand by the
time he was done with college most kids
today are less than a hundred thousand
they have debt a hundred thousand debt
if you don’t believe me watch this video
that we did on student loan debt in 1947
buffett entered the prestigious Wharton
School of Business at the University of
Pennsylvania he would have preferred to
focus on his business venture however he
enrolled due to the pressure from his
father Warren studied there for two
years enjoying the Alpha Sigma Phi
fraternity he then transferred to the
University of Nebraska where nineteen he
graduated with a Bachelor of Science and
Business Administration
shout out to Tommie Frazier and Nebraska
Cornhuskers after being rejected by the
Harvard Business School buff enrolled at
Columbia Business School at Columbia
University upon learning that Benjamin
Graham taught there he earned a master’s
of science and economics from Columbia
in 1951 and after graduating buffin
attended the New York Institute of
Finance he worked at his father’s
company Buffett Falken company from 1951
to 1954 as an investment sales this
showed one of the Stute Investor he was
he was appointed at the starting salary
of twelve grand a year at Benjamin
Graham’s partnership in 1954 his boss
was a difficult man to work with and
expected strict adherence to
conventional rules of investing which
Buffett’s young mind questioned when
Benjamin grand retired and closed his
partnership in 1956 Warren had already
amassed a large personal savings account
with which he opened buffett partnership
limited an investment partnership in
Omaha Nebraska
he started operating to several under
partnerships and by the end of the
decade he had seven partnerships
operating he became a millionaire in
1962 as a result of all of his earnings
from all of his partnerships he then
merged all of those partnerships into
one and invested in a textile
manufacturing firm called Berkshire
Hathaway
he began purchasing the shares of
Berkshire Hathaway aggressively door in
the early 1960s and eventually took over
control of the entire company during the
late 1960s he shifted the business from
textile into the insurance sector and by
1985 the last of the textile mills under
Berkshire Hathaway had been sold off
making Warren Buffett officially a
billionaire in the years to come Buffett
with diversified Berkshire Hathaway
purchasing a 12% stake and Salomon
incorporated in 1987 and becoming its
largest shareholder he also bought stock
and a young company called coca-cola in
1988 eventually purchasing up to 7% of
coca-cola for just a shade over a
billion dollars and what would prove to
be one of the best Berkshire Hathaway
investments of all time he entered an 11
billion worth of forward contracts to
deliver US dollars against other
currencies in 2002 in June of 2006
Buffett made an announcement that he
would gradually give away 85 percent of
his Berkshire holdings to five
foundations the largest contribution of
which would go to the Bill and Melinda
Gates Foundation in 2008 he became the
richest man in the world with a total
net worth estimated over 62 billion by
Forbes overtaking Bill Gates who had
been number one on the Forbes list for
the 13 previous years it was short-lived
however as the very next year Gates
regained the first position and Buffett
moved back to second place in 2011 he
was presented with the Presidential
Medal of Freedom by President Barack
Obama and is nearly universally
considered the most successful investor
of the 20th century as well as one of
the most charitable philanthropists of
our times so that’s the story of how
Warren Buffett became a billionaire for
value tame and media I’m Gerard Haren if
you want to see the rest of before they
were billionaires click on this playlist
right here and if you’re interested in
learning how another billionaire
investor got his start Patrick but David
has an unbelievable interview with Mark
Cuban that you can watch right here
thanks everybody and see you next week
you know you know what you don’t see
anywhere here folks Warren Buffett
hasn’t gotten laid yet alright not not
yet he’s nerd he’s geek after being
rejected by Harvard Business School
bidness did I really just say bidness
and if you want to see how other
billionaires words lots of words what words are neither
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