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Warren Buffet - The Great Invester
Warren Buffet - The Great Investor
 
I don’t think anyone needs an introduction to Warren Buffet. But still for some newbies or not-into-much-business people I will tell you who he is. Warren Buffet is an American investor who was born on August 30, 1930. He is a businessman, investor as well as a philantrophist. He is regarded as one of the world’s best investor and is said that he made each and every dollar of his revenue from stock markets only. His current wealth stands to be around $50 billion dollar as on Sep 17, 2008 as per Forbes Magazine, making him one of the top richest persons in the United States as well as the world!

Early Life:
Buffet was born in Omaha, Nebraska and his father was a local stock broker. He use to idolize Benjamin Graham and Phil Fisher and used to say that I am 15 percent Fisher and 85 percent Graham. Buffet leant most of the business lessons from Graham himself.

Historican Timeline:

1943 (13 years old): Buffet filed his first income tax retun, deducting his bicycle as a work expense for $35.

1945: (15 years old): In his senior year of high school, Buffett and a friend spent $25 to purchase a used pinball machine, which they placed in a barber shop. Within months, they owned three machines in different locations.

1950: (20 years old): Buffett applied for admission to Harvard Business School but was turned down. Buffett enrolled at Columbia Business School

1954: (24 years old): Benjamin Graham offered Buffett a job at his partnership with a starting salary of $12,000 a year.

1956: (26 years old): Benjamin Graham retired and folded up his partnership.Buffett’s personal savings were now over $140,000.

1962: (32 years old): Buffett became a millionaire because Buffett’s partnerships, in January 1962, had in excess of $7,178,500 of which over $1,025,000 belonged to Buffett.

1979: (49 years old): Berkshire began to acquire stock in ABC. With the stock trading at $290 per share, Buffett’s net worth neared $140 million. However, he lived solely on his salary of $50,000 per year. Berkshire began the year trading at $775 per share, and ended at $1,310. Buffett’s net worth reached $620 million, placing him on the Forbes 400 for the first time.

2008: (77 Years old): Buffett became the richest man in the world, valued at $62 billion according to Forbes dethroning Bill Gates, who held the title for thirteen years straight.


Philanthropy:

Buffet is also a big philantrophist apart from being great investor and economist. He donated 1 million Berkshire shares to Gates Foundation in 2006, which are worth (30 billion USD) as of June 23, 2006. He also said that he will donate another $10 billion to various such foundations and that very less portion of his wealth will go to his children

On short, I would like to say, they don’t make much men like Warren Buffet and we must hope and that his teachings and principles long live with us!


      
By: Amol
Published: 10/07/08


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