Biography of Warren Buffet

Warren Buffett could perhaps be the most prolific investor of all time. Known as the "Oracle of Omaha", he possesses more money than 99.9999998878% of the world's population. According to the Forbes List of Billionaires, Warren Buffett ranks third in the world with an estimated net worth of $52 billion. Despite his fortune, he lives quite modestly on his salary of $100,000 per year. Some people even go so far as to categorize him as a tightwad. His modesty and frugality might have much to do with his upbringing and the era during which he grew up. Warren Buffett put in many, many years of hard work to make it to where he is today.

Childhood of Warren Buffet

Warren Edward Buffett was born on August 30, 1930 to his father Howard, a stockbroker-turned-Congressman. The only boy, he was the second of three children, and displayed an amazing aptitude for both money and business at a very early age. Acquaintances recount his uncanny ability to calculate columns of numbers off the top of his head - a feat Warren still amazes business colleagues with today.

At only six years old, Buffett purchased 6-packs of Coca Cola from his grandfather's grocery store for twenty five cents and resold each of the bottles for a nickel, pocketing a five cent profit. While other children his age were playing hopscotch and jacks, Warren was making money. Five years later, Buffett took his step into the world of high finance. At eleven years old, he purchased three shares of Cities Service Preferred at $38 per share for both himself and his older sister, Doris. Shortly after buying the stock, it fell to just over $27 per share. A frightened but resilient Warren held his shares until they rebounded to $40. He promptly sold them - a mistake he would soon come to regret. Cities Service shot up to $200. The experience taught him one of the basic lessons of investing: patience is a virtue.

Warren Buffett's Education

In 1947, a seventeen year old Warren Buffett graduated from High... [continues]

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