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Warren Edward Buffett is born on August 30, 1930, in Omaha, Nebraska. He is the second of three children to parents Howard and Leila.
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At the age of 11, Buffet purchases his first stock. He paid $38.25 each for three shares of Cities Service preferred. It first drops to around $27, then shoots back to $40. Here he sells for his first profit.
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At the age of 25, he starts a partnership with seven investors, three of which are family members. The initial investments total just over $105,000.
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Buffett is running seven partnerships by 1961. Buffett Associates, Buffett Fund, Dacee, Emdee, Glenoff, Mo-Buff, and Underwood. The partnerships are worth a couple million and Buffett makes his first million dollar investment in a company named Dempster.
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Buffett notices Berkshire Hathaway selling for $8 a share and starts buying aggressively.
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Buffett 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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In May, the price of one share of Berkshire Hathaway stock tops $1000 for the first time.
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In January, the price for one share of Berkshire Hathaway stock tops $50,000 for the first time. The market value of the company is $76.4 billion
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Bill Gates is elected as a director for Berkshire Hathaway.
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On April 17, Buffett reveals he has been diagnosed with stage I prostate cancer. In September he beats his cancer after months of radiation treatments.
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As Berkshire continues to accumulate more cash, it’s capital spending will increase. The Company continues to make deals and you will them grow more in the future.
