• Team Business-360°

The enduring success of Warren Buffet

90 years old and still going strong. Warren Buffet is a person everyone can learn from. His strategic investments have made him the seventh richest person in the world as of 2021. His story teaches us the importance of hard work and determination.

Buffet credits his success to his father, a stock broker, who introduced him to investing. His love for numbers, business studies and economics started very young, and he made his first investment at the tender age of 11. Warren Buffet has often spoken about this experience as his very first lesson in investing.

He started small businesses like selling gum, Coca-Cola, worked as a paperboy but finally at the age of 15 bought a pinball machine that he placed at a barber’s shop when he moved to Washington D.C., after his father was elected to serve his first term as a Congressman. Soon he set up these pinball machines in several barber’s shops and split the profits with the owners. After high school, even though he didn’t want to study further, his father persuaded him to continue, so he enrolled into the University of Pennsylvania but later shifted to the University of Nebraska where he got his degree in Business Administration. Although he was still in college he continued his business ventures and kept selling papers and now also overlooked the work of other paper boys he hired.

After graduation, he attempted to get into Harvard Business School which failed, but instead he got into Columbia University where he studied under Benjamin Graham, a very influential person in his life. Following university, he wanted to work with Benjamin Graham but after he declined, Buffet went back to his father’s stock firm. He got married to his wife Susie, in 1952 and had their first child together. During this time he worked different jobs and some of his investments even tanked, but finally, he moved to New York after getting an offer to work with Benjamin Graham.

After some years, he moved back to Omaha where he started his own partnership- Buffet Associates Limited in 1956 at only 25 years of age. Finally in 1969, he ended the partnership and liquidated all the assets as he was unable to find any investors in the market for it. Although, in 1962, Buffet and his friend Charlie Munger acquired Berkshire Hathaway, and the rest is history.

Read more about Warren Buffet’s journey here:

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