10 Fascinating Facts About Warren Buffett

Did you know that Warren Buffett made his first investment in the stock market when he was just 11 years old?

It’s astonishing that he wasn’t even a billionaire when he was 54 years old, which is the year 1984. He was the wealthiest man in the world in 2008, but that year he wasn’t even close. Let’s have a look at fourteen remarkable facts regarding the life of this well-known businessman and investor.

1: He started making money when he was 6 years old.

There is no question that he began amassing wealth at a very young age since he is today considered to be one of the wealthiest men in the world. Buffett made a profit of 5% on the purchase of six packs of Coca-Cola bottles when he was just six years old and paid Rs. 18 for them.

He and his friend recently bought a pinball machine and put it in a barbershop as part of his ongoing efforts to build a successful business. When they had saved up a few cents from this endeavor, they went out and bought three more of these signs and hung them in three distinct barbershops located all throughout Omaha.

2: A young investor

Did you know that Buffett purchased his very first share of stock when he was just 11 years old? While he was in New York City, he had the good fortune to speak with a member of the New York Stock Exchange. This was a highlight of his trip. Because of this, he became interested in financial investing.

When he was 11 years old, he began investing his money in the stock market using the money he made delivering newspapers. He bought six shares in Cities Service Preferred, which is now known as CITGO.

3: Rejection from a well-regarded institution is the third fact

Soon after he received his diploma from the Institution of Nebraska, he went to Harvard Business School for an interview. During the interview, the staff members who were conducting the interview informed him that he would not be enrolling at this university.

Buffett was disheartened, but he did not give up hope. He got in touch with David Dodd, who was a professor at Columbia Business School and one of his heroes. In the letter he sent to them, he addressed Professor Dodd as “Dear Professor.” I heard that you had passed away, but after seeing that you are still alive and teaching at Columbia, I would be very interested in attending one of your classes. The rest, as they say, is history.

4: Made a fortune after reaching the ripe old age of 60

There is no way to dispute the fact that one may achieve success at any age. The same holds true for Warren Buffett as well. Even though he had already amassed a fortune before the age of 60, amounting to Rs. 276 cr., close to 94% of his wealth was acquired after he reached the age of 60 years old.

He had a net worth of Rs. 7.2 lakh cr. as of the month of March 2021, which made him one of the wealthiest persons in the world. This certainly fills us with a great deal of optimism.

5:The Oracle of Omaha is the fifth fact.

Due to the fact that Buffett employs an investing strategy, the community in Omaha pays great attention to and follows his decisions about investments as well as market remarks.

You must be curious about the plan behind it, don’t you think? His investments are in businesses that are now selling at a price that is lower than their true worth but yet have the potential to generate profits. When considering an investment in a business, two of the most important factors that he considers are the company’s return on equity and its profitability.

It’s no surprise that many refer to him as the Oracle of Omaha.

6: The success of the salad dressing controversy

In the 1960s, there was a salad oil controversy that did not become very well known. All of the inspections that the Allied Crude Vegetable Oil Company did to find out if the oil tanks were full were successful. The administration, however, was blind to the fact that the oil rises to the surface of the water. The tanks were almost entirely full of water, with only a few feet of oil remaining on top. The fraud was exposed, and it was discovered that salad oil worth more than Rs. 1,200 crores had been stolen, which understandably generated an outcry on the market.

You may be wondering, what does this have to do with Warren Buffett? American Express was the company that paid the price for this affair. Buffett had built a 5% share in the firm, which is why he advised that American Express would cover the expense of resolving the collaterals. Buffett had accumulated the position over the course of his career. Buffett is famous for the long-term investment strategies he employs. He was aware that if they hadn’t reached a settlement, it would be detrimental to the company’s image in the long run.

Isn’t it amazing?

7: He purchased Berkshire Hathaway

1962 was the year when everything began. Buffett saw a chance to make an investment in Berkshire Hathaway, a textile firm based in New England, and therefore purchased part of the company’s shares. Even though he acknowledges that purchasing Berkshire Hathaway was one of his major mistakes, he was still able to shape the company’s trajectory.

From 1965 to 1975, the company’s book value increased from around Rs. 1,400 per share to approximately Rs. 7,000 over the course of ten years. The only thing that Buffett stated was that the success of the firm is dependent on how well the management team is doing.

Over the course of many years, Buffett has purchased, owned, and eventually sold shares in a large number of firms across a wide range of sectors. Among the various subsidiaries, some of the more well-known ones include Dairy Queen NetJets and Benjamin Moore & Co.

8: Investments that are well-known

As one of the most successful investors of all time, Warren Buffett is held in very high esteem all around the globe. His approach to investing is very pragmatic, and he maintains a realistic outlook on the market. Apple Inc., Bank of America, and the Coca-Cola corporation are just a handful of the companies he represents in his portfolio.

Coca-Cola was one of his most successful and well-known ventures at the time. It is still one of the greatest assets that Berkshire Hathaway has had to this day. He believed that Coca-Cola was a strong corporation that was worth a lot, was capable of withstanding competition and could get back on its feet faster than other businesses.

Do you have any idea about the investing theory that he adhered to? It’s as easy as “purchasing terrific firms at good prices,” as the saying goes.

9:Fear of public speaking is a common problem

People have always had a natural aversion to being on stage in front of an audience, and this trait hasn’t changed much through the years. Buffett was no different. In point of fact, he shelled out almost Rs. 7,000 to attend a Dale Carnegie seminar on the aforementioned topic.

Because of the skills he gained in the public speaking course, he was able to successfully propose to his wife, making this Rs. 7,000 investment well worthwhile. Therefore, we can safely claim that everyone involved comes out ahead.

10: Million-dollar lunch

Have you heard that individuals are willing to spend millions of dollars only to have lunch with Warren Buffett? You read and understood it correctly. I mean, who wouldn’t want to have lunch with the Oracle of Omaha? I mean, who wouldn’t want to have that experience? There is no doubt that we can get a lot of knowledge from Buffett. Some people were so excited about the chance to have lunch with him that they bid millions of dollars.

But we have a winner here! The founder of the TRON Foundation, Justin Sun, made a bid for this meal that broke the previous record by 33 crores of rupees. Buffett has a tradition of supporting charitable causes with the proceeds from these meals.

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