Warren Buffet is among the richest men in the world. He is the most influential personality in American business. He has a net worth of 80.6 billion USD which makes him the second richest member of Forbes. Since the beginning, Warren worked and lived in Omaha that made him the Oracle of Omaha. All his investment selections were related to Omaha and that is how he succeeds. Here is a little history on how Warren Buffett got started.
It all started with a pinball machine. In 1945 Warren started earning at an early age. He was earning $175 monthly by delivering the Newspaper. At the age of 14 he made is first invest in the 40 acres of farmland with the $1200 that he saved. He was sure about the profit that he would generate and that is why he told his friend he is going to be a millionaire one day. In 1947 in his senior year of high school, he bought a pinball machine with his friend. It was only worth $25. Instead of wasting his money he started to think about where he can place the machine to earn more money and barber’s shop seemed like the best option. Within a month he was the owner of 3 different machines available in 3 different locations. Later he sold that business to a war veteran for $1200. He collected $5000 in the same year by delivering newspapers. His father was pressuring him to attend college and so he did what he was asked to do. He enrolled in finance and commerce and was surprised that he knew more than his teachers did. In order to get the best results, he selected the University of his own choice where his favorite teachers were teaching the subjects he wanted to study. In order to be the best, he transferred himself from that college to a university to assure that he obtained the knowledge he came for. He graduated from the university within 3 years, only because of his prior knowledge in finance and commerce was enough to explain how Warren Buffett got started. In the same way, he never stopped saving in those few years which is how he reached $9,800.
It was time to work alone. He was inspired by Ben Graham and so he tried working for him. He got the job and was confident in learning additional skills and experiences as he could, because that is how Warren Buffett got started. He started the job at a salary of $12,000 per year. He kept working until Graham retired and took his partnership with him. During the years on the job, Warren collected almost $140,000. This was the time when his family returned and with the partnership of his friends and family members, he started his own company. He wanted to have a business instead of working for someone else. There were 7 partners in the company and Warren invested only $100.
You have to lose to win. While paying attention to how Warren Buffett got started, most people think that Warren only won and never lost even a penny. However, in 1987 he made a wrong decision while investing in stocks and lost at least $342 million. However, he never lost hope and invested in shares of Coca-Cola again and his worth increased to $1.02 billion and become the owner of 7% shares. So we can say it does not matter how Warren Buffett got started. All that matters is his persistence with investments and patience when he lost.