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Tuesday, February 25, 2020

20 Mind-Blowing Facts About Warren Buffett

Those who knew him from the beginning, Buffett’s success comes as no surprise: He was picking out stocks at 11 years old and had amassed the equivalent of $53,000 in today’s dollars by the time he was 16

These are some 20 mind-blowing facts about Warren Buffett.

  1. While his elementary school classmates were dreaming about the major leagues and Hollywood, 10-year old Buffett was having lunch with a member of the New York Stock Exchange and setting life goals.

Buffett’s legendary career all began with an epiphany at age 10 when he was on a trip to New York City with his dad.

Dining with a member of the NYSE planted the idea in young Buffett’s head to organize his life around money.

 

2. He bought his first stock at age 11.

3. When Buffett was a teen, he was already raking in about $175 a month — more than his teachers (and most adults).

4. When Buffett was a teen, he was already raking in about $175 a month — more than his teachers (and most adults).

5. He was rejected from Harvard Business School.

Buffett, confident he nailed his admissions interview, had already told a friend, “Join me at Harvard.” 

“I looked about 16 and emotionally was about nine,” he recalled of the in-person interview. Forced to look elsewhere, he settled on Columbia University, which only required a written application and no interview.

6. His idol refused to hire him the first time he applied.

Buffett originally wanted to work with his idol, and author of The Intelligent Investor, Benjamin Graham, but Graham rejected him because he wasn’t Jewish (Graham was saving a spot at his firm for someone Jewish, since at the time Jewish people had a tougher time landing work on Wall Street).

Buffett wouldn’t take no for an answer, and continued pitching Graham ideas until he eventually hired him.

7. Buffett spent $100 to take a Dale Carnegie course on public speaking.

He was 21 and terrified of public speaking. It ended up being a worthy investment, as the course helped him propose to his wife.

8. His house is a humble five-bedroom in Omaha, Nebraska, that he bought in 1956 for $31,500.

9. Buffett doesn’t keep a computer on his desk, and he chooses to use a flip phone rather than a smartphone.

10. In fact, he’s only sent one email in his life, to Jeff Raikes of Microsoft.

11. His distance from technology leaves him time for bridge, which he plays about 12 hours a week.

12. He spends 80 percent of his day reading.

13. He drinks an alarming amount of Coca-Cola each day.

14. 99 percent of Buffett’s wealth was earned after his 50th birthday.

15. Among investing legends, Buffett has the longest track record for beating the market.

16. $1,000 invested in Buffett’s Berkshire Hathaway stock in 1964, when Buffett took over the company and shares cost just $19, would be worth about $13 million dollars today.

17. Buffett’s net worth is greater than the GDP of Uruguay.

18. Though Buffett spends frugally, he gives generously. In 2010, he teamed up with Bill and Melinda Gates to form The Giving Pledge, an initiative that asks the world’s wealthiest people to dedicate the majority of their wealth to philanthropy.

19. Buffett has also so far donated nearly enough money in his lifetime to build six Apple ‘Spaceship’ Campuses, which are $5 billion endeavors.

20. In 2013, Buffett made on average $37 million per day — that’s more than what Jennifer Lawrence made the entire year.

 

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