His life teaches us never to give up – if you make a small start, then work hard to make it big and do it with passion. It gives you the decision making power which you can use in building a wealth of fortune. His success story gives us the lesson that knowledge is always more important. Berkshire is now one of the largest conglomerate holding companies with business interests in several corporates. He invested in Berkshire knowing little about textiles and eventually turned the company's focus. He identified potential low-value deals and turned them big one classic example is Berkshire Hathaway. Warren Buffet based his investor's journey on the foundation stone of value investment. He also founded Giving Pledge with Bill Gates, where billionaires can pledge to donate at least half of their fortune to social welfare causes. He also pledged 99 percent of his wealth to philanthropic activities, mostly through the Bill & Melinda Gates Foundation. Ironically, acquiring Berkshire is one of Buffet's biggest regret also.īuffet is engaged in several philanthropic activities much of his earning go to different charitable trusts. Warren became a billionaire when Hathaway started trading in class A shares in 1990. Since 1970, he is also the largest shareholder in the company. He is currently the chairman and CEO of Hathaway. He transformed it into a diversified holding company. In 1962, he saw a direct investment opportunity in a New England Textile company named Berkshire Hathaway. He started a company, Buffet Partnership, in 1956. Buffet later said in an interview that attending Graham's classes on security analysis, and reading his book, The Intelligent Investor, played a significant role in moulding him as an investor.īuffet started his career as an investment salesman and later joined Graham to form a partnership business. He pioneered the value investing concept, which formed the cornerstone of Buffet's investment philosophy. Graham was called the Dean of Wall Street. Both men had a great impact on young Warren. While studying at Columbia Business School, he got acquainted with Benjamine Graham and David Dodd, both reputed security analysts. So he reluctantly agreed to join the University of Pennsylvania and later got transferred to the University of Nebraska, where he graduated after three years with a degree in business. Warren wanted to join the business right after finishing school, but his father insisted on finishing education. Buffet later sold the business to a war veteran for USD 1200. Within a few months, they owned several pinball machines, placed at three barbershops across Omaha. They bought one pinball machine and installed it at a local barbershop. In his sophomore year, he started a business with his friend. His senior school yearbook picture read, "like math future stockbroker." Buffet was drawn to investment and businesses at an early age and worked on several odd jobs. He went to Rose Hill Elementary School in Nebraska and later graduated from Woodrow Wilson High School in 1947. He would spend long hours listening to the investors' chatter and frantic work, which eventually drew him towards it. His father also owned a small brokerage house, which was of great attraction to young Warren. He was born to Leila and Congressman Howard Buffet in 1930. He purchased his first shares at the age of 11 and invested in several businesses while growing up. `īuffet showed his entrepreneurial streak at an early age. His net worth stands at USD 78.9 billion as of August 2020, making him the 7th richest man globally.
0 Comments
Leave a Reply. |