The Life of Warren Buffet: How He Became The 3rd Richest Man In The World

Without a doubt. Warren Buffet is one of the smartest businessmen on this planet. He is worth around 87 Billion Dollars, which makes him the third wealthiest guy in the world after Jeff Bezos and bill gates, so how did he become the person he is today and how did he become so prosperously rich?

Warren Buffet actually laid his eyes at the stock market at a very young age, as early as 11 years old, when all his classmates and peers were busy playing around in the park or learning how to ride a bicycle. He started working at his father’s brokerage when he was 11 years old, and took over on other small jobs like helping with the family business; he spent his days watching what investors were doing and listening to what they said. And by the time he was 15, he already had a net worth of 6000$, which is 53000$ in today’s dollars.

Regardless of his success at a very young age, he wanted to attend universities, so he attended the University of Pennsylvania for a bachelors degree, and after getting rejected by Harvard business school, he, later on, continued his studies at Columbia business school. He was Benjamin Graham’s pupil, and It was through Graham’s class in securities analysis that Buffett learned the fundamentals of value investing.

Todays Warren Buffet, where all of the stockbrokers admire, almost chose another path in his career where at the start he wanted to work at wall street, and it was then when Graham, his mentor convinced him to make another career choice. Heading back to Omaha, Buffett worked as a stockbroker and created several investing partnerships. The size of the partnerships grew substantially, and by the time he was 31 he was a millionaire. It was after that, in 1961 where Buffet’s sights turned towards investing in business, and it was then where he made a profit of 1 Million Dollars by investing in a windmill manufacturing company, by 1965 he took control over a textile company by buying it shares, today that company is famously known as Berkshire Hathway. Today, Berkshire Hathaway Inc. gets revenue when its railroad carries cargo, its investments pay dividends, and its companies sell electricity, diamonds, real estate, knives, encyclopedias, tools, ice cream, batteries… you name it.

Warren Buffet believes the reason behind his success in the stock market and overall in capitalism is patience, being flexible, and not letting opportunities slides by your hands since they only come once, and his exact words were, “Long-term, the stock market is going to be higher, and I’ve written that many times,” Buffett said. “In terms of what it’s going to do next year or tomorrow, I have no idea. The stocks we were buying and selling the day before the election were the same stocks we were buying and selling the day after the election.” Moving forward to 2010s, Buffett added about $12 billion to his fortune in 2016, making him the biggest gainer among wealthy individuals in the U.S, according to both the Bloomberg Billionaire’s Index and a separate report from Forbes.

However, he is not like the average businessman or the “1%” where all they care about is their profit, Buffett is considered to be one of the most generous people that ever existed on this planet. Although he didn’t start donating until he got married to his first wife, Buffett is now regarded as one of the most generous philanthropists in the world, giving more than $27 billion to causes in the last decade. As mentioned above, there is no doubt Warren Buffet is a genius walking among us peasants in our filthy world, we do not deserve a guy as smart as him or as generous as him.

“The stock market is a device for transferring money from the impatient to the patient.” — Warren Buffett

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