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Warren Buffett was born to Howard Buffett, a stockbroker and a U.S. congressman, and, Leila Stahl Buffett, a homemaker.
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At 11 years old he made his first investment, buying three shares of Cities Service Preferred at $38 per share. He later sold them once they reached $40 a share.
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At the age of 13, Buffett was running his own businesses as a paperboy and selling his own horseracing tip sheet. He made his first tax return that year.
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In high school, he and a friend purchased a used pinball machine for $25. Within a few months, the profits enabled them to buy other machines. Buffett owned machines in three different locations before he sold the business for $1,200.
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Buffett enrolled at the University of Pennsylvania at the age of 16 to study business. He stayed two years and then moved to the University of Nebraska to finish up his degree.
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After earning his master's degree in 1951, he sold securities for Buffett-Falk & Company for three years, then worked for his mentor for two years as an analyst at Graham-Newman Corp.
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In 1956, Buffet formed the firm Buffett Partnership Ltd. in his hometown of Omaha. He was successful in identifying undervauled companies and became a millionaire
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He began accumulating Berkshire Hathaway stock in the early 1960s, and by 1965, he had assumed control of the company.
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In June 2006, Buffett made an announcement that he would be giving his entire fortune away to charity, committing 85 percent of it to the Bill and Melinda Gates Foundation.
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In 2012, Buffett disclosed that he had been diagnosed with prostate cancer. He began undergoing radiation treatment in July, and successfully completed his treatment in November.
