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He was born on August 30, 1930
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At 11 years old, Buffett buys his first stock- 6 shares of Cities Service Oil company at $38 per share. He bought 3 for himself and 3 for his sister Doris.
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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 barbershop. Wilson Coin makes $50 per week for Buffett and Donald. Buffett does tax returns for himself and Wilson Coin. In the next few months, they own 3 machines and a year later sells it for $1200.
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Buffett’s savings reach $9800. He joins Columbia University and learns from Benjamin Graham. He was willing to work for Benjamin Graham, but was not offered a job. Buffett returned to Omaha, purchased a Texaco station and worked as an investment salesman for Buffett-Falk & Company, at his father’s brokerage firm. In 1954, Benjamin Graham called him again and offered him a job for $12,000 a year. During this period, Buffett was able to also work closely with Walter Schloss.
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Graham decides to retire and fold his business. Buffett’s savings have grown from $9,800 to $140,000. Buffett returned to Omaha and on May 1, created Buffett Associates Ltd. Seven family members and friends invest a total of $105k. Buffett invested only $100k.
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By now, the partnership is worth $104 million
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Berkshire is trading at $290 per share. Warren’s personal net worth is now approximately $100 million and receives a $50k annual salary.
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As Berkshire continues to accumulate more cash, it’s capital spending will increase and you will no doubt see big deals occur going forward. Buffett has one of the most illustrious investing careers the world has ever seen. The story is not over yet.