Warren Buffet’s name is synonymous to the success of, Berkshire Hathaway. Warren Buffet is the Chairman and CEO of Berkshire Hathaway.
Buffet worked in various companies before being an integral part of Berkshire Hathaway in the early 1960s.
Buffet started investing at an early age of 11. He purchased three shares of Cities Service at such an early age. He also bought a farm land at the age of 14 with his savings of $1200. Young Warren, after finishing his college, had $9800 as his savings. He didn’t wanted to go for higher education, but his father forced him. During his educational journey only he met Benjamin Graham, his mentor in the industry.
Warren started his career working as an Investment Salesman in Buffet Falk & Co. in the year 1951-54. He also worked as a security analyst at Graham-Newman Corp. from 1954-56. After this Warren Buffet worked as a general partner at Buffet partnership from the year 1956-1969.
In the year 1962 Warren Buffet became a millionaire. This was the result of the partnerships that he did. He then decided to merge these partnerships into one single unit. At that time a textile company, Berkshire Hathaway was selling there shares in cheap prices due to some internal disagreement. Buffet took control of the company by investing into the shares of it. Buffet’s partnerships started buying the shares of Berkshire Hathaway, the share prices of the company started increasing. Warren Buffet became the CEO and Chairman of Berkshire Hathaway in the year 1970. He then closed his partnerships.
Warren Buffet changed the coarse of Berkshire Hathaway to insurance sector and all the mills of the company were sold. Berkshire started buying the shares of Washington Post Company in the year 1973. The company has acquired stocks of several companies since then, namely Buffalo News, ABC, The Coca Cola Company, etc.
Buffet has a net worth of $84 billion, that makes him the third wealthiest person in the world.