Warren Buffett was born on 30 August, 1930, also known by his moniker “Oracle of Omaha”. He is one of the most successful value investors of the late 20th and early 21st centuries.
He bought his first share, the Cities Service Preferred Stock, at the age of 11. At 14, he reinvested his earings in real estate, buying 40 acres of farmland, which he rented for profit.
At age 16, Buffet attended the University of Pennsylvania, and two years later, he transferred to the University of Nebraska. After graduation, he was accepted to Columbia University.
At Columbia University, he was taught by Benjamin Graham, the father of value investing. Value investing became an investment philosophy that he continues to follow to this day.
By the age of 30, Buffett’s net worth was $1 million, a significant sum considering that family income in the U.S. at the time was approximately $5,600 per year.
In 1962, Buffett began buying the shares of Berkshire Hathaway, then a dying textile mill. By 1965, he had bought enough shares of the company to take over its reins.
He distanced Berkshire from the textile industry by liquidating those assets completely. He bought National Indemnity Company, in the first of what would become many insurance company acquisitions.
At age 44, Buffett faced financial challenges, with his net worth dropping to $19 million. His investment acumen allowed him to recover, and by 47 his net worth had increased to $67 million.
In 1986, at the age of 56, Warren Buffett became a billionaire. As of July 2024, his net worth stands at $137.8 billion, making him the seventh-most richest person in the world.