Warren Buffett is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett"
Warren Buffett displayed an amazing aptitude for both money and business at a very early age. At only six years old, Buffett purchased 6-packs of Coca Cola from his grandfather's grocery store for twenty five cents and resold each of the bottles for a nickel, pocketing a five cent profit. While other children his age were playing hopscotch and jacks, Warren was making money. Five years later, Buffett took his step into the world of high finance. At eleven years old, he purchased three shares of Cities Service Preferred at $38 per share.
At the age of 25, Warren began a limited stock market trading investment partnership. Warren was the general partner, and started with US$100. There were seven limited partners who contributed US$105,000 towards the stock market trading partnership.
The limited partners received 6 percent annually on their investment and 75 percent of the profits above this target amount. Warren earned the other 25 percent. Over the course of the next thirteen year period, Warren compounded money at an annual rate of 29.5 percent through stock market trading activities.
Warren Buffett was employed from 1951–54 at Buffett-Falk & Co.(Omaha) as an investment salesman. From 1954–1956 at Graham-Newman Corp.(New York) as a securities analyst. From 1956–1969 at Buffett Partnership, Ltd.(Omaha) as a general partner and From 1970 – Present at Berkshire Hathaway Inc.(Omaha) as its Chairman, CEO. In 1962, Buffett became a millionaire because of his partnerships, which in January 1962 had an excess of $7,178,500, of which over $1,025,000 belonged to Buffett.
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