“If I’m not a millionaire by age 30, I will jump off the tallest building in Omaha”.
said Warren Buffett when he was a kid.
Warren Buffett – History of Billionaire started at the age of 11
At the age of 11, he bought his first shares at the New York stock exchange.
He bought his first real estate when he was 15.
Stockbroker father and tough lessons of the Great Depression taught little Warren to respect the value of money, which was his key to success.
At the age of 32, he invested almost all of his net worth — $450,000 at the time — into the Berkshire Hathaway investment partnership.
It brought him $1.8 mln, and few years later he bought a controlling share of stock in Berkshire Hathaway.
Little by little, he has been developing his business, got in the Forbes listing in 1982 with $250 mln, and has never disappeared from this listing ever since. Warren Buffett got his first billion at the age of 55.
By 2018, Buffett is #3 of the Forbes listing with $86.6 bln – even though he donated 85% of his income to various charitable organizations.
He is 89, and it seems like he’s never going to stop.
His story shows that success is a skill one can master over the course of life – and eventually you will reap what you sow.
Do you want to renew the success of Warren Buffett?
11 Incredible Facts about Warren Buffet
Warren Buffet is a well-known investor.
He may need no introduction from us, but did you know these facts about him?
- 99% of Buffett’s wealth was made after he turned 50.
- In 2013, Buffett made an average of $37 million per day.
- He spends about 80% of his days reading. In an interview, he explained his job is essentially “corralling more and more and more facts and information, and occasionally seeing whether that leads to some action.”
- Buffet called considers gold as an investment with no real value. In a 1998 speech, he said gold is dug out of the ground, then melted, buried in another hole where people are paid to guard it.
- He made billions from a salad dressing scandal. In 1963, a company specializing in salad dressing and vegetable oil borrowed $175 million (that’s around $1.2 billion in today’s standards) from lenders including American Express against its oil inventory. As it turned out, a lot of the oil used as collateral was just water mixed with oil. American Express stock dropped 50%, Buffet reacted quickly, purchasing $13 million worth of the American Express shares. By 2011, they were worth around $7.8.
- Buffett adores junk food and his favorite meal is a cheeseburger accompanied by a Cherry Coke. He stated in the past that a quarter of his daily calorie consumption comes from Coca-Cola.
- He has donated over $25 billion to charities and has pledged to donate 99% of his wealth instead of living it as an inheritance.
- Warren Buffett has an old Nokia flip phone. When asked about it he replied it’s the one “Alexander Graham Bell gave me”.
- Not impressed enough by the Nokia story? Buffett only sent one single email in his entire life. It was sent to Jeff Raikes of Microsoft, and according to Buffett it became his first and last email ever after it ended up in court.
- Buffet auctions a lunch with him for charity. One of the winners ended up paying $3,456,789 for the privilege.
- Buffett learned his first lesson about the market when he was 11 and bought his first stocks, way back in 1941. He purchased 6 preferred shares of Cities Service for him and his sister, Doris. The stock dropped, then bounced back, rising a bit more than he paid. He sold the shares and then saw their value soars by 500%.
- Buffett bought Berkshire Hathaway out of spite. After he and the company’s CEO agreed on a price to buy back shares from Buffett, the official offer was 12.5 cents per share lower than what was agreed upon. Instead of selling, Buffett purchased a controlling share of the business and quickly fired the CEO.
- According to report, his salary from Berkshire Hathaway is only $100,000 a year.
Does reading this make you wish you’d decided to become an investor?
At FXPro, you can learn how to trade CFDs and forex and benefit from video guides, a personal trading coach and plenty of information.