Warren Buffett was born in 1930 in Omaha, Nebraska and he is the only son of U.S. Congressman Howard Buffett. Ever since Buffett was a child he has displayed an interest in making and saving money. He started selling chewing gum and sodas in his neighborhood when he was little. He bumped up his business while he was in high school and was successful in making money by delivering newspapers, selling golf balls, stamps, and detailing cars.
In 1945, in his sophomore year of high school, Buffett and a friend spent only $25 to purchase a used pinball machine, which they placed in the local barber shop. Within months, they owned several machines in different barber shops. Buffett became interested in the stock market as a child when he used to visit his father’s own brokerage company. On a trip to New York City at the age of ten, he visited the New York Stock Exchange.
He made his first stock purchase at the age of 11, he bought three shares of “ Cities Service Preferred” for himself, and three for his sister for $38 each share. Buffett went to the University of Pennsylvania. He studied there for two years, and then transferred to the University of Nebraska–Lincoln where he graduated with a Bachelor of Science in business administration at the age of nineteen.
Warren Buffet was rejected by Harvard Business School so he enrolled at Columbia Business School instead. He also attended the New York Institute of Finance. He started off as an investment salesman at Buffett-Falk & Co..
He taught an “Investment Principles” night class at the University of Nebraska-Omaha. The students were more than twice his age. During this time he also purchased a Sinclair Texaco gas station as a side investment. However, this did not turn out to be a successful business move. After having his second child his personal savings were over $174,000 and he started Buffett Partnership Ltd., an investment partnership in Omaha. In 1957, Buffett had three partnerships operating the entire year. By 1959, the company grew to six partnerships operating the entire year.
In 1962, Buffett became a millionaire because of his partnerships. In that same year Warren Buffett began buying shares in Berkshire from Seabury Stanton, the owner at the time. In 1970 Buffett became chairman of Berkshire Hathaway Inc. Which is one of the world’s largest conglomerate holding companies.Buffet is named one of the most influential people in the world. He was ranked as the world’s wealthiest person in 2008. Warren Buffet is now currently the second richest man in America.