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Birth of Warren Buffet
Warren Buffet was born on this day. -
Warren Buffets first investment
At 11 years old, Buffett buys his first stock – 6 shares of Cities Service at $38 per share. That is all the money he had at that time. Practiced little to no diversification at a young age which he continued to do throughout his investment career. He later cited this experience as an early lesson in patience in investing. -
Buffet runs his first real business
At age 17, 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. Buffett does tax returns for himself and Wilson Coin. -
Buffet goes to college
Buffett’s savings reaches $9800. He joins Columbia University and learns from Benjamin Graham. He was willing to work for Benjamin Graham, even for free, but was not offered a job. -
Warren Buffet starts Buffett Associates
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. -
Buffet is running seven partnerships
At age 31, Buffett is running seven partnerships by 1961; Buffett Associates, Buffett Fund, Dacee, Emdee, Glenoff, Mo-Buff, and Underwood. The partnerships are worth a few million and Buffett made his first million dollar investment in Dempster – a windmill manufacturing company. -
Buffet continues his success
At age 32, Buffett goes to New York to meet his old acquaintances to include more partners and raise capital. He collects a few hundreds of thousand dollars. Buffett partnerships is worth $7.2 million. Buffett then merges all partnerships into one and rename it as Buffett Partnerships Ltd. -
Buffet invests in Walt Disney
Buffett invests $4 million in Walt Disney after a meeting with Walt Disney himself which is almost 5% of the company. Buffett takes full control of Berkshire Hathaway and names Ken Chase to be the CEO. -
Buffet starts buying Coca Cola
Buffett starts buying Coca-Cola (Beverages) and eventually gains a 7% stake in the company for $1.2 billion. -
Buffet donates a share of his money
At age 76, Buffett announces in June that he 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.
