May 09, 2024
Warren Buffett, the legendary “Oracle of Omaha,” wasn’t born with a silver spoon. This Nebraska native, son of a congressman, developed a fascination with business and investing at a young age.
In 1956, he established Buffett Partnership Ltd., and a pivotal move came when his investment firm acquired a struggling textile company called Berkshire Hathaway.
Buffett, with a keen eye for potential, transformed Berkshire Hathaway into a diversified holding company, becoming its chairman and majority shareholder by 1970.
The arrival of Charlie Munger as vice-chairman in 1978 solidified a legendary partnership that would propel Berkshire Hathaway to even greater heights.
Buffett’s business savvy emerged early. By 11, he’d purchased his first stock, and by 13, he was filing his own tax returns. He wasn’t afraid of hard work, delivering newspapers for a hefty $175 monthly income at 15.