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Warren Buffett Timeline, Great Value Investor, Chairman of Berkshire Hathaway.

Sunday, July 8, 2007

1930 :Warren Buffett born August 30, 1930, Omaha, Nebraska

Warren Buffett was born in Omaha, Nebraska to Howard Buffett, a stock broker and United States Representative, and his wife Leila Buffett. Warren Buffett displayed an extremely keen understanding of business and mathematics at a young age, easily doing complex mathematical computations in his head. He was also known as a book worm who displayed an insatiable hunger for knowledge pertaining to business and capital markets. He began working at his father's brokerage at the age of 11, and that same year made his first stock purchase, buying Cities Services shares for $38.25 each. He sold them when the price reached $40, only to see them rocket to $200 a few years later. This taught him the importance of investing in good companies for the long term. At the age of 14, he and a fellow high school student began installing pinball machines in barber shops, and he eventually spent his take of $1,200 to buy 40 acres of farmland which he then rented to tenant farmers. Although he excelled as a student, he felt college would be a waste given his success as an entrepreneur. He had already had money coming in from Wilson Coin Op, a pinball machine company he had started with a friend, as well as passive income streams coming from a farmer paying rent to him for the use of his farm, and he had saved $5,000 graduating near the top 20 in his class at the age of 16. He eventually yielded to his father's advice and attended college.

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