this businessman is the Oracle of Omaha
the market is there to serve you not to
inform you welcome to watchmojo.com and
today we’ll be learning more about the
life and accomplishments of Warren
Buffett Warren Edward Buffett was born
August 30th 1930 in Omaha Nebraska as a
child Buffett discovered his math skills
and interest in money matters he made
his first investment at eleven and due
to his paper route filed his first tax
return in 1944 in 1950 Buffett earned a
degree from the University of Nebraska
Lincoln after also studying at the
University of Pennsylvania’s Wharton
Business School by working full time
through school he amassed almost $10,000
in savings after his rejection by
Harvard Business School due to his young
age Buffett chose Columbia for his
graduate studies where he learned
fundamental investment rules under famed
economists Benjamin Graham and David
Dodd he then worked at his father’s
Omaha brokerage firm and in 1952 started
a family with his new wife Susan
Thompson Buffett finally went to work
for Ben Graham’s New York partnership in
1954 and developed a different ideology
than his mentor Graham only considered
numbers when investing while Buffett
also studied how companies were run
Graham’s partnership closed in 1956
so Buffett started his own back in Omaha
there he met Charlie Munger in 1959 and
the two began a valuable business
association that lasted decades by 1962
the Oracle of Omaha was a millionaire
that year he also merged his several
successful partnerships into one called
Buffett partnership limited and began
buying stocks in a small textile
manufacturing firm called Berkshire
Hathaway Buffett continued making bold
moves through the 60s he bought cheap
American Express stocks after a fraud
scandal invested in Disney and became
the largest shareholder at Berkshire
Hathaway in 1965 he took control of
Berkshire and with it bought national
indemnity insurance in 1967
the insurance sector proved far more
successful than textile operations which
eventually shut down in 1985 when the
buffett partnerships assets were
divested in 1970 buffett became chairman
of berkshire hathaway that year he began
writing annual letters to shareholders
that eventually became famous Buffett
and Berkshire entered the media business
by acquiring stock in The Washington
Post Company in 1973 and the American
Broadcasting Company in 1979 by 1985
Buffett helped engineer and finance a
merger between ABC and capital cities in
exchange for a 25% share in the new
company by then Buffett was on the
Forbes 400 as one of the world’s richest
people in 1987 Buffett became director
of Solomon brothers after Berkshire
became the company’s largest shareholder
however the stock market crashed that
year resulting in significant losses for
both Berkshire and Buffett himself
things improved in 1988 when Buffett
bought 7% of coca-cola for 1.02 billion
dollars and that became one of
Berkshires most profitable investments
ever by 1990 Buffett was a billionaire
on paper
thanks to Berkshire Hathaway’s newly
sold Class A stocks heading into the new
millennium Buffett and Berkshire
experienced ups and downs causing some
to accuse him of losing his touch he was
also criticized during the subprime
crisis of 2007-2008
however by investing in American
companies like Goldman Sachs Bank of
America and Wells Fargo Buffett helped
stabilize the US economy and earned
significant returns Buffett’s success
briefly earned him the title of world’s
richest man in 2008 when his net worth
of sixty-two billion dollars taught Bill
Gates Buffett gates and Facebook CEO
Mark Zuckerberg partnered in 2010 to
sign the Giving Pledge which promised
that half of their fortunes would
eventually be allocated to charity
Buffett has also been vocal on political
issues like health care reform and taxes
for the super-rich the very richer
paying less in the way of taxes and the
people to clean their offices Berkshire
emerged strong after the economic
meltdown
and in 2011 Buffett bought 11 billion
dollars worth of IBM shares
despite his long-standing position not
to invest in technology the next year
Buffett was diagnosed with prostate
cancer and talk turned to his eventual
replacement as head of Berkshire
Hathaway he was named one of Time
Magazine’s Most Influential People was
awarded the Presidential Medal of
Freedom and became one of the most
successful investors of all time but
it’s Warren Buffett’s frugal personal
philosophy and unparalleled track record
that have made him an inspiration for
generations
for more great biographies be sure to
subscribe to watchmojo.com
the market is there to serve you not to
inform you welcome to watchmojo.com and
today we’ll be learning more about the
life and accomplishments of Warren
Buffett Warren Edward Buffett was born
August 30th 1930 in Omaha Nebraska as a
child Buffett discovered his math skills
and interest in money matters he made
his first investment at eleven and due
to his paper route filed his first tax
return in 1944 in 1950 Buffett earned a
degree from the University of Nebraska
Lincoln after also studying at the
University of Pennsylvania’s Wharton
Business School by working full time
through school he amassed almost $10,000
in savings after his rejection by
Harvard Business School due to his young
age Buffett chose Columbia for his
graduate studies where he learned
fundamental investment rules under famed
economists Benjamin Graham and David
Dodd he then worked at his father’s
Omaha brokerage firm and in 1952 started
a family with his new wife Susan
Thompson Buffett finally went to work
for Ben Graham’s New York partnership in
1954 and developed a different ideology
than his mentor Graham only considered
numbers when investing while Buffett
also studied how companies were run
Graham’s partnership closed in 1956
so Buffett started his own back in Omaha
there he met Charlie Munger in 1959 and
the two began a valuable business
association that lasted decades by 1962
the Oracle of Omaha was a millionaire
that year he also merged his several
successful partnerships into one called
Buffett partnership limited and began
buying stocks in a small textile
manufacturing firm called Berkshire
Hathaway Buffett continued making bold
moves through the 60s he bought cheap
American Express stocks after a fraud
scandal invested in Disney and became
the largest shareholder at Berkshire
Hathaway in 1965 he took control of
Berkshire and with it bought national
indemnity insurance in 1967
the insurance sector proved far more
successful than textile operations which
eventually shut down in 1985 when the
buffett partnerships assets were
divested in 1970 buffett became chairman
of berkshire hathaway that year he began
writing annual letters to shareholders
that eventually became famous Buffett
and Berkshire entered the media business
by acquiring stock in The Washington
Post Company in 1973 and the American
Broadcasting Company in 1979 by 1985
Buffett helped engineer and finance a
merger between ABC and capital cities in
exchange for a 25% share in the new
company by then Buffett was on the
Forbes 400 as one of the world’s richest
people in 1987 Buffett became director
of Solomon brothers after Berkshire
became the company’s largest shareholder
however the stock market crashed that
year resulting in significant losses for
both Berkshire and Buffett himself
things improved in 1988 when Buffett
bought 7% of coca-cola for 1.02 billion
dollars and that became one of
Berkshires most profitable investments
ever by 1990 Buffett was a billionaire
on paper
thanks to Berkshire Hathaway’s newly
sold Class A stocks heading into the new
millennium Buffett and Berkshire
experienced ups and downs causing some
to accuse him of losing his touch he was
also criticized during the subprime
crisis of 2007-2008
however by investing in American
companies like Goldman Sachs Bank of
America and Wells Fargo Buffett helped
stabilize the US economy and earned
significant returns Buffett’s success
briefly earned him the title of world’s
richest man in 2008 when his net worth
of sixty-two billion dollars taught Bill
Gates Buffett gates and Facebook CEO
Mark Zuckerberg partnered in 2010 to
sign the Giving Pledge which promised
that half of their fortunes would
eventually be allocated to charity
Buffett has also been vocal on political
issues like health care reform and taxes
for the super-rich the very richer
paying less in the way of taxes and the
people to clean their offices Berkshire
emerged strong after the economic
meltdown
and in 2011 Buffett bought 11 billion
dollars worth of IBM shares
despite his long-standing position not
to invest in technology the next year
Buffett was diagnosed with prostate
cancer and talk turned to his eventual
replacement as head of Berkshire
Hathaway he was named one of Time
Magazine’s Most Influential People was
awarded the Presidential Medal of
Freedom and became one of the most
successful investors of all time but
it’s Warren Buffett’s frugal personal
philosophy and unparalleled track record
that have made him an inspiration for
generations
for more great biographies be sure to
subscribe to watchmojo.com
Please follow and like us: