Who is Warren Buffett? Biography of Warren Buffett; Billionaire genius

Warren Buffett’s late wife tells a memory about him that is very audible. “One day I was sick and had severe nausea,” he says. I couldn’t even go to the bathroom. I asked Warren to bring me a dish from the kitchen.

He went to the kitchen and after a lot of fussing and looking for a dish, he brought me a colander! I said to him, Warren, do you think this dish is suitable for what I want to do? Warren said no, confused. He went back to the kitchen and again, after a lot of noise, he put a tray under the colander and brought it to me!”

But when we talk about business and economics, you must know that we are dealing with a completely different man. A man who started from scratch gave away a large portion of his fortune, but is still one of the richest people on the planet.

Forbes media has declared his wealth to be 114 billion dollars. This is while Buffett has spent nearly 38 billion dollars of his wealth on charity in the last 15 years. If you want to know more about this investment genius, stay with Rahevard.

“Warren Edward Buffett” was born in 1930 in the city of Omaha, United States. He is the second of 3 children and the only son of the Buffett family. His father, Howard Buffett, was a businessman and politician. Warren Buffett has called his father very influential on him in all the interviews. His father won the US Congress election in 1942 and they were forced to move to Washington DC. An event that was not very pleasant for Warren, and later he returned to the city where he was born.

Like most geniuses you’ve read about, Warren Buffett graduated from high school earlier than he should have. That is, at the age of sixteen. At the same age, he was buying and selling stocks and did not feel that going to university was necessary. But at the insistence of his father, he entered Nebraska College.

He got his bachelor’s degree in three years and went to Harvard University for an interview to continue his studies at the best American university. But the interview did not go as he and probably you think. In fact, it didn’t even last more than ten minutes. The interviewer poured clean water on Warren’s hands with one sentence: “Forget Harvard, son!”.

In the summer of the same year, a catalog from Columbia University came into the hands of Warren Buffett, in which the names of “David Lee Dodd” and “Benjamin Graham” were seen in the list of professors. Warren had previously read a book by the two of them and was fascinated by them. He sent a letter to Professor Lee Dodd in which he wrote very honestly, “I thought you were dead!”

But now that you are alive and teaching, I would like to be your student.” This letter worked and Warren Buffett went to Columbia University to continue his master’s degree. An event that gave a new shape to his professional life. Warren Buffett’s investment method, which is carried out by carefully examining the financial statements of companies, is the result of the teachings of these professors, especially Professor Graham. Warren Buffett says: I have two rules in investing that I learned from Benjamin Graham:

First rule:  Never do harm

The second rule:  Do not forget the first rule

Thus, Warren Buffett graduated from Columbia University as a full-fledged businessman. He got married after graduating from Columbia University. With the money he earned from buying and selling stocks, he could live anywhere he wanted. But he returned to his hometown, Omaha. He started his first company there.

The partners of this company were the Buffett family and their initial investment amount was close to 100 thousand dollars. Warren ran it alone for six years. The job of this company was to find cheap valuable stocks and buy them. At the end of these six years, Warren Buffett was able to increase the assets of this company to 7 million dollars.

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Berkshire Hathaway was a bankrupt textile company that Warren Buffett bought a part of in 1962. Berkshire closed its factories one after another and sold its shares with these closures. Warren Buffett would buy these shares and sell them to others with a small profit. A difference of one-eighth of a dollar in the price per share between Buffett and the management of the company greatly angered Warren Buffett.

He started buying company shares. Until Warren Buffett became the owner of this company in 1965 and changed its management. This was the beginning of Berkshire Hathaway, which Warren Buffett transformed from a textile company into an investment company, and through which he still invests. Berkshire Hathaway’s net worth is currently 530 billion. You must be surprised to know that for years this company has only 25 employees.

Warren Buffett and Bill Gates have been close friends for years. Buffett announced that he will donate most of his wealth to the Bill and Melinda Gates Foundation. In 2006, he donated nearly 37 billion dollars of his assets to this foundation. This is possibly the most generous act of charity in human history! Also, he left 15% of his wealth to three charitable foundations of his children and his late wife.

Warren Buffett has never had a good relationship with investing in Bitcoin and other digital currencies. He has warned many times to beware of entering the field of digital currency. Because digital currencies have no intrinsic value and do not produce anything.

In 2017, Buffett called Bitcoin the death of the mouse and said that he has never invested in these currencies and will not invest in them in the future.

But in June 2021, Warren Buffett’s company, i.e. Berkshire Hathaway, invested 500 million dollars in Nubank digital bank. Of course, this does not necessarily mean a change in Warren Buffett’s view of Bitcoin, but it could be a sign of a change in his approach to digital currencies.

Warren Buffett dedicates one day a year to having lunch with the highest bidder. Buffett donates all the money he gets in this way to charity. It is interesting to know that in 2019, “Justin Sun”, the founder of digital currency Tron, won this dinner with Buffett auction and paid 4.57 million dollars to the Glide Charity Foundation.

Circle of merit is a term first coined by Warren Buffett. When he turned down an invitation to give an expensive speaking engagement, he explained that he attributes his success to knowing his circle of competence and not stepping outside of it. This competence circle includes tasks in which you have sufficient skills or knowledge.

These things are under your control or you can easily control them. The rest of the work is outside your competence and you should not waste your time on them. Of course, you can expand your circle of competence. But it also reduces your concentration and control.

American investor Warren Buffett is currently one of the richest people in the world. He has acquired all this wealth by buying stocks that are prone to growth. His tactic in the stock market is to scrutinize the financial statements of companies and invest in companies that can have high profits. He is also involved in charitable activities and has devoted a large part of his wealth to charity.