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Ernest Buffett is born, father of Howard Buffett. He went on to own a grocery store.
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Howard Buffet is born. he is the father of Warren and the son of Ernest.
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Howard gets a job at Union State Bank as a stockbroker. Only two years later the collapse begins.
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Oracle Arises
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Fraud? More like business God.
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He bought 6 shares of Cities Service at $38 per share. He bought 3 for himself and 3 for his sister Doris. The stock price fell to $27 but soon went to $40. He sold the stock at $40, but, the stock shot up to $202 in the next few years. He later cited this experience as an early lesson in patience in investing.
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It costed him $114.75 for his three shares of Cities Service Preferred. This is one of the early investing moments in Warren's career. Shows that he started learning investment basics at a young age.
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Warren's father takes a huge step in his career. Moving up the political ladder, he is elected to congress. This plays a huge role in his father's impact on Warren's life.
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The Buffett family moves to Washington.
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He filed his first tax report and got it down to $7. He deducted his wristwatch and bicycle as business expenses to lower the taxable money.
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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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Warren's sister sets him up on a date with her roommate Susie Thompson.
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Warren gets denied from Harvard business school. After finding out two well known security analysts work as professors at Colombia he applies their and personally writes one of them asking for acceptance. Warren ultimately is accepted.
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One of his best oves, was joining the Carnegie speaking classes. these classes vastly improved hius public speaking.
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Warren and Susie get married after the National Guard releases Warren from flood control duty for the wedding
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Susan Buffett, the oldest of Warren's kids, is born.
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In 1954, Benjamin Graham called him again and offered him a job for $12,000 a year. Ben was Warren's idol.
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Warren's mentor, Ben graham, decides to retire from investing.
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Seven family members and friends put in a total of $105,000. Buffett himself invests only $100. He's now running his own partnership, and will never again work for anyone else.
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Warren meets his eventual friend and partner after being introduced to one another. Charlie later became Vice Chairman of berkshire Hathaway.
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The Buffett Partnership, which had begun with $105,000, was now worth $7.2 million. Warren and Susie personally own over one million of the assets. Buffett merges all of the partnerships into one entity known simply as Buffett Partnerships, Ltd. The operations are moved to Kiewit Plaza, a functional but less-than-grand office, where they remain to this day. The minimum investment is raised from $25,000 to $100,000.
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This obviously leaves Warren scarred as he is now fatherless. One of his biggest influences, and role models passes away leaving a huge void in bis heart.
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The Buffett Partnership, which had begun with $105,000, was now worth $7.2 million. Warren and Susie personally own over one million of the assets. Buffett merges all of the partnerships into one entity known simply as Buffett Partnerships, Ltd. The operations are moved to Kiewit Plaza, a functional but less-than-grand office, where they remain to this day. The minimum investment is raised from $25,000 to $100,000.
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The SEC opens a formal investigation against Warren. They find no fraudulent activity.
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In 1977 Astrid is asked by Susie to look after and help take care of Warren. When Susie and Astrid meant she was working at a restaurant.
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Susan decides that she wants to move to San Fransisco.
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Susie, trying to look out for Warren, introduces him to Astrid. Astrid later moves in with Warren.
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Taking a huge step in their careers, the two officially become partners. This is a huge step for Warren and his business and relationship with Charlie.
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Warren helps orchestrate the merger between ABC and Cap Cities. He is forced to leave the board of the Washington Post. The federal legislation prohibited him sitting on the boards of both Capital Cities and Kay Graham's Washington Post.
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Buffett finally shuts down the Berkshire textile mills after years of sustaining it. He refuses to allow it to drain capital from shareholders.
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Buffett starts buying Coca-Cola (Beverages) and eventually gains a 7% stake in the company for $1.2 billion.
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The Warren Buffett Way by Robert G. Hagstrom Jr. is published and becomes a bestseller. The Snowball is better.
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Berkshire acquires the remaining stake in GEICO to become 100% owned subsidiary.
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Ben Bridge (Jewelry)
CORT, the leading national provider of rental furniture, accessories and related services in the growing “rent-to-rent” furniture rental industry.
Justin Industries including Acme Building Brands.
Shaw Industries, the world’s largest manufacturer of tufted broadloom carpets.
Benjamin Moore, a leading manufacturer and retailer of premium paints, stains and industrial coatings that was founded in 1883. -
One of Warren's good friends, Bill Gates, gets elected as a Director at Berkshire Hathaway
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Warren's first wife, Susan Thompson Buffett passes away due to oral cancer.
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In October, the price of one share of Berkshire Hathaway stock tops $100,000 for the first time. The market value of the company is $162.6 billion.
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He announced hw will give away more than 80%, or about $37 billion, of his $44 billion fortune to five foundations in annual gifts of stock, starting July 2006. The largest contribution will go to the Bill and Melinda Gates Foundation.
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Two years after Susie's death, Warren and Astrid finally tie the knot. Their reception is a rather small one at one of Warren's kids houses.
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At a White House ceremony, President Obama calls Buffett “not only one of the world’s richest men, but also one of the most admired and respected.“ Obama praises him for demonstrating that “integrity isn’t just a good trait -- it is good for business” and for “devoting the vast majority of his wealth to those around the world who are suffering, or sick, or in need of help.”
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On April 17, Buffett reveals he has been diagnosed with stage I prostate cancer. But, he assures shareholders, “The good news is that I’ve been told by my doctors that my condition is not remotely life threatening or even debilitating in any meaningful way.”
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In August, the price of one share of Berkshire Hathaway stock tops $200,000 for the first time. The market value of the company is $338.2 billion.
