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Warren Buffet is born in a hospital
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Buffett joins his friend Donald Danly to start a company called Wilson Coin Operated Machines. The business buys a pinball machine at a cost of $25 and places it in a nearby barber shop. Wilson Coin makes $50 per week for Buffett and Donald.
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Buffett was introduced to Charlie Munger by his friend Edwin Davis at a dinner. Charlie Munger later becomes the Vice Chairman of Berkshire Hathaway.
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Buffett goes to New York to meet his old acquaintances to include more partners and raise capital. He collects a few hundreds of thousand dollars. Buffett partnerships is worth $7.2 million. Buffett then merges all partnerships into one and rename it as Buffett Partnerships Ltd.
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Buffett invests $4 million in Walt Disney after a meeting with Walt Disney himself which is almost 5% of the company. Buffett takes full control of Berkshire Hathaway and names Ken Chase to be the CEO.
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Buffett Partnership now owns 59.5% of Berkshire Hathaway. Berkshire Hathaway pays a 10 cent dividend. This is the first and only dividend it has paid ever.
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Partnership is worth $104 million.
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Due to falling stock prices, the value of Berkshire Hathaway portfolio begins to fall. Warren’s personal network falls by more than 50%.
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Bill Gates is elected as a director for Berkshire Hathaway.
