Warren Buffett is one of the most successful investors and the fourth richest man in the world. This 89 years old man is the CEO of Berkshire Hathaway and has a net worth of 89.4 billion US dollars. Well-known for his brilliant investment skillfulness, professionals, as well as amateur investors, hang on to every word. Buffett is a financial genius, and that is why he fondly is known as the Oracle of Omaha.
He has been followed by the long-term-oriented investors, and everybody knows him as a self-made billionaire. However, there are a few things about Buffett that you might not know. So we have made a list for those who want to know more about him. Here are ten things you didn’t know about Warren Buffett.
1.Born During The Great Depression
Who would thought that the financial genius and a well-known investor in the world would be born nearly a year after the crash of the stock market of the USA? Yes, Buffett was born on August 30, 1930, a time when the USA was having the worst economic downturn in the history of the industrialized world that wiped out millions of investors.
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2.Getting Into The Money
The business magnet learned the basics of money when he was just a kid. At the age of 9, when other boys of his age worry about making scores in a game, Warren Buffett was really concerned about making his own money. Buffet made his first money at the age of 6 after selling the used golf balls. His interest in making money gets stronger, and he started selling packs of chewing gum and Coca-Cola bottles. This habit of Warren helped him in getting a job. And at the age of 9, he started his first job by delivering newspapers.
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3.Setting Life Goal At The Age Of 10
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As we told you that Buffett was always interested in making money and getting profits. But this interest gets deeper when he went to the New York Stock Exchange to celebrate his tenth birthday with his father. On this trip, he had the opportunity to spend time with a member of the New York Stock Exchange. This meeting boosted his interest in investments and built the concept of organizing the life around money in Buffett’s young head.
4.Getting Into The Stocks
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On his return to his hometown, Buffet already knew what he has to do. So without waiting for the adult age, he bought his first stock in 1941 when he was just eleven years old. He purchased the shares from his father’s brokerage firm, Cities Service Preferred for $38 apiece with his own money that he had earned through his job. Later the year, he joined his father in his firm.
5.His Teenage Was Even More Wonderful
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Teenage is an age with no clear goals, but this was different for Buffett. At the age of 16, Buffett was not only having clear goals, but also a very hard worker. This hardworking quality of him made him earn more than about $175 a month. Well, we know that does not look like much since the USD had much more buying power than now. But the fact is that he was earning more than his teachers and many adults at that time.
6.Getting Rejected From Harvard
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You might think of him as a man of luck, but this is not true. Like many of us, Buffett also experienced failures in life. He wanted to go to Harvard for his graduation, but he got rejected just after the interview. After much disappointment by the rejection, he thought of joining the Columbia University where his ideals, David Dodd and Ben Graham, taught. He got the admission in the university after writing a letter to his idol in which he stated that,
“Dear Professor Dodd. I thought you guys were dead, but now that I found out that you are alive and teaching at Columbia, I would really like to come.”
Warren Buffett’s House
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The legendary investor, who is the fourth richest man in the world, is famous for his frugality. Yes, you read that right, Buffett likes to spend his life in the simplest way possible. He is currently living in a house in Omaha, Nebraska that he bought all the way back in 1956. The house has a relatively simple structure with five bedrooms. Not only the house, but he has been working in the same office for fifty years and have no plans of up-gradation or shifting it anywhere else. The business magnate only has 20 suits in his wardrobe, but he never paid for any because they all have been presented as a gift to him.
8.He Was Rejected By His Idols
Benjamin Graham in 1955
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Buffett spends 80% of his day reading, and he used to idealize Ben Graham, who is the author of the book “The Intelligent Investor.” After graduation, he wanted to work with his idol, Ben Graham. But again, he faced rejection as Graham refused to hire him because he was not Jewish. However, this rejection did not disappoint him but made him work more. So he continued pitching the concepts of Graham until he finally hired him.
9.Keeping A Distance From Technology
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For one of the wealthiest men on the earth, it is hard to keep a distance from technology. But in Buffet’s case, anything can be possible. Buffett does not have any computer or laptop on his work table. In fact, the only advance thing he has on his office table is the landline phone. What even more surprising is that he had only sent only one e-mail to Jeff Raikes of Microsoft, in his entire 89 years of life span. Unlike the other successful people who surround themselves with smart gadgets, Buffets chooses to use a regular Nokia flip phone and has no intention of upgrading it.
10.Buffet Is A Foodie
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The business magnate is a notoriously a junk food lover. With his favorite food as a burger with chilled coke, he takes 2,700 calories a day. At the age of 89, he drinks about 5 cokes a day, and for breakfast, he eats a can of Utz potato sticks or sometimes a tub full of ice cream. He literally eats like a 6- year old kid and has also claimed it in many interviews. In an interview, when he was asked how he has managed to stay healthy with a junk diet, he said,
“I checked the actuarial tables, and the lowest death rate is among 6-year-olds. So I decided to eat like a 6-year-old boy.”