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Saturday, October 23, 2021

How Warren Buffett, who sold Chewingam, became an investment guru

Today is the birthday of Warren Buffett, who is called Investment Guru. Buffet, born in 1930, has turned 90 years old. He is also called Oracle of Obama for the selection and success of investments. Buffett is currently the sixth richest person in the world in the Bloomberg Billionaire Index with assets of $ 82.6 billion. Beginning with selling chewing gum, Buffet travelled to the Investment Guru, let’s know…

1936 – At the age of 6, Warren Buffett started selling Chewing Packs. He bought 6 packs of Coca Cola from his grandfather’s grocery store for 25 cents and sold each of them for 5 cents. In this way, he earned a profit of 5 cents.

1941 – Warren Buffet started investing in the stock market at the age of just 11. They had 120 dollars. He and his sister Doris had bought three shares of Cities Service. A share price was $ 38.25. When the price of the stock reached $ 40, he sold the shares, however, after that the price of the stock rose to $ 202, which gave him a lesson that it is necessary to be patient to invest in the stock market.

1943 – Buffett started newspaper delivery at the age of 13. He used to get $ 175 per week. Apart from this, selling weekly magazines, selling golf balls and stamps etc. In 1944, Warren Buffet filed his first income tax return at the age of 14.

1947 – Buffett, along with a friend, started Wilson’s Coin-Operated Machine Company. In this, he used to buy pinball machines for $ 25 and put them in the barbershop. This earned him 50 dollars per week. Before graduating, he sold the company for $ 1200. By then, he had already received $ 5000 from newspaper delivery.

1949 – At the age of 19, his savings had reached $ 9800.

1951 – Out of his $ 20,000 savings, Buffet spent 65 percent of the shares of GEICO Auto Insurance Company. Graham was on the board of this company.

1954 – The customer called Buffet and offered him a job at Graham Newman Corporation. Buffett’s annual salary started at $ 12000.

1956 – The 26-year-old Buffet saved more than $ 1.40 lakh. He then started his own investment company Buffet Associates. 7 members and friends of his family contributed $ 1.05, while Buffett contributed just $ 100.

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1959 – Buffet met Charlie Munger at a dinner. Charlie was then the vice-chairman of Berkshire Hathaway.

1961 – By the age of 31 Buffett had been running 7 partnerships — Buffet Fund, Darcee, Buffet Associates, Moe — Buff, Underwood, Emdee and Glenoff. He made his first million-dollar investment in the windmill manufacturing company Dempster.

1962 – Buffet merged all his partnerships and formed a company Buffett Partnership. In the same year, Buffet saw that textile manufacturing company Berkshire Hathaway was selling a share for $ 8. After this Buffet started buying shares of the company.

1963 – Buffett sold Dempster for 3 times more than his investment. By now the Buffett Partnership had become the largest shareholder in Berkshire Hathaway.

1965 – At the age of 35, Buffett invested $ 4 million in the Walt Disney Company and bought about 5 percent of the company. He took full control of Berkshire Hathaway and appointed Ken Chase as the new CEO.

1969 – Buffet closed it a year after Buffet Partnership earned more than $ 40 million and became a $ 14 million company. At the age of 39, he had a personal stake of $ 25 million in Berkshire Hathaway.

1970 – Buffett became chairman of Berkshire Hathaway and from that year he began writing an annual letter to shareholders. The company earned $ 45000 from textile operations, $ 4.7 million from insurance, banking and investment.

1975 – Buffett merged the ‘diversified’ control of Berkshire Hathaway and Charlie Munger. Charlie received a 2 per cent stake in Berkshire and became its vice-chairman.

1983 – Berkshire Hathaway’s portfolio now stood at $ 1.3 billion. The 53-year-old Buffet’s assets had risen to $ 62 million and he was ranked first in Forbes’ Billionaire List.

1988 – Buffet started buying shares in Coca-Cola and stopped it at 7 per cent stake for $ 1.02 billion.

1989 – The 59-year-old Buffet now had assets of $ 3.8 billion and became director of Coca-Cola.

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1994 – Buffet invested in many businesses from here for the next few years. These included McDonald’s, Gannett, PNC Bank, Helzberg’s Diamond Shops, RC Willey, Flight Safety International, Kansas Bankers Surety Co, Star Furniture, International Dairy Queen, Travelers, US Airways, General Re, Jordan’s Furniture Company, Ben Bridge, etc.

2006 – Buffett was the director of Coca-Cola until 2006. He then announced his entire Fortune donation and gave 85 per cent of his wealth to the Bill & Milinda Gates Foundation.

2010 – Berkshire Hathaway, an 80-year-old Buffet, acquired railroad company Burlington Northern for $ 44 billion and joined the S&P 500.

2013 – Buffet bought private equity firm 3G Capital and HJ Heinz for $ 28 billion. Duracell and Kraft Foods Group were also bought in the next two years.

2017 – Buffett increased his investment in Apple and also became the largest shareholder of Bank of America with 70 million shares. A year later, JP Morgan and Bank of New York Mellon also became part of Berkshire Hathaway’s portfolio.

2020 – Despite the decrease in demand for oil and gas, Buffett placed bets on them during the COVID 19 epidemic. He invested around $ 10 billion to buy gas pipeline assets and related debt.

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Source: www.financialexpress.com

Shehnazhttps://www.businesskhabar.com/
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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