Many people have asked me recently… “who is the richest man in the world?” Well that man is… Bill Gates; but today we are going to focus on a person who previously held the title from 2008 – 2009. That man is… Warren Buffett.
Buffett made his money by investing and is one of the most successful investors the world has ever seen.
Warren Buffett was born in Nebraska. In 1943, a young Warren Buffett filed his first income tax return in which he deducted his bicycle and watch as a work expense for his work as newspaper boy. This early business sense was a sign of things to come.
Buffett attended the University of Nebraska–Lincoln, where he received a B.S. in Economics. He also received a M.S. in Economics from Columbia University in 1951.
When Buffett graduated from Columbia he wished to work on Wall Street, however, both father and associate Ben Graham urged him not to. He offered to work for Graham free of charge, but Graham refused. Buffett returned to Omaha and got a job as a stockbroker while taking a public speaking course. Using the skills he acquired, he was confident enough to be able teach an “Investment Principles” class at the University of Nebraska. During this time he bought a Texaco gas station as an investment. This did not turn out to be as successful as he wished.
Buffett got married in 1952 to Susan Thompson and they had their first child a year later. In 1954, Buffett got a job at Benjamin Graham’s partnership. He was on a salary of $12,000 (this equates to $97,000 in today’s money). Graham proved a tough person to work for. The Buffetts also had their second child in 1954. In 1956, Benjamin Graham retired and closed his business. Buffett had managed to save over $170,000 and decided to start his own business…Buffett Partnership Ltd.
By the time 1957 came, Buffett had three partnerships operating. He purchased the home that he still owns today…a five-bedroom house in Omaha. In 1958 the Buffett’s third child was born. By 1960, Buffett had seven partnerships operating. In 1962, Buffett became a millionaire and hasn’t looked back since.
In 2008, Buffett finally became the richest man in the world. This title was previously held by Bill Gates. Gates had held the number 1 spot for 13 years. March 11, 2009, Bill Gates regained number one spot, with Buffett dropping to second. Buffetts journey is one of hard work and determination. Theres no doubt Buffett didn’t set out to become the richest man in the world but through his innovation and drive he achieved that prestigious title and may go on to do so again in the future.
Popular searches for the article:
- how to become the richest man in the world (95),how to become the richest person in the world (77),how to become richest person in the world (60),most successful man in the world (52),richest actors in the world (44),the most successful man in the world (37),successful man in the world (36),500 richest people world (34)