 | |
| how to make money... |
It
takes a great deal of skill to make billions of dollars from nothing.
It takes a great deal of empathy and understanding to make billions of
dollars from nothing, and use it to further some of the world's most
important social deeds. Warren Buffet, born on August 30th in Omaha,
Nebraska, would go on to achieve that goal, creating one of the world's
most valuable companies in the process.
While Buffett was never poor as a child – his father served on the Congress, and was a well-known advocate of alternative policies in his time – he showed a constant, unflinching desire to succeed. A young child, Buffet spent his time collecting chewing gum in great quantities, and sold it to others in his neighborhood, pocketing a comfortable profit and quickly building his business knowledge.
As a teen, his local empire grew from chewing gum and Coca Cola into pinball machines and a range of magazines. Buffett and several of his local friends saw the potential to generate a long-term source of income from pinball machines, and installed several in local stores and restaurants. Within months, the machines were producing his first real source of recurring income.
He also invested in his father's business ventures, putting the earnings from his pinball empire into a farm purchased by his family. He visited New York as a young teen, navigating the stock exchange with a sense of wonderment and interest. After his college career, during which he studied finance, Buffet had amassed a considerable amount of wealth, translating to almost $100,000 today.
He poured his savings into stocks, investing in many of what would later become the country's 'big one-hundred' companies. His company, Berkshire Hathaway, made him a millionaire shortly after, and a billionaire just a decade later. His presence in American investing circles grew, and after his company released 'Class A' stock, he became one of the nation's wealthiest individuals.
Despite his immense financial success, however, Buffett has never been someone to show off his wealth. He lives in the same home he purchased over fifty years ago, drives an inexpensive car to his business engagements, and flew in public airplanes until just over twenty years ago. His very limited purchases as a CEO have been jokingly laughed at, and he lives a fairly frugal lifestyle.
This type of modesty, both financial and personal, is fairly rare amongst the world's super rich, and it reflects a sign of Buffett that the world is just beginning to see. A renowned philanthropist, he has promised to give ninety-nine percent of his wealth to charity upon his death in a partnership with Microsoft founder Bill Gates and his Bill Gates Foundation.
While Warren Buffett's slow, calculated rise to the top may not give you a burst of inspiration, it's a very important story nonetheless. Buffett's success shows the importance of deliberate practice, and its massive benefits for your life. Billion-dollar companies aren't built overnight – in Buffett's case, they're built through a lifetime of hard work, analysis, and smart decision making.
While Buffett was never poor as a child – his father served on the Congress, and was a well-known advocate of alternative policies in his time – he showed a constant, unflinching desire to succeed. A young child, Buffet spent his time collecting chewing gum in great quantities, and sold it to others in his neighborhood, pocketing a comfortable profit and quickly building his business knowledge.
As a teen, his local empire grew from chewing gum and Coca Cola into pinball machines and a range of magazines. Buffett and several of his local friends saw the potential to generate a long-term source of income from pinball machines, and installed several in local stores and restaurants. Within months, the machines were producing his first real source of recurring income.
He also invested in his father's business ventures, putting the earnings from his pinball empire into a farm purchased by his family. He visited New York as a young teen, navigating the stock exchange with a sense of wonderment and interest. After his college career, during which he studied finance, Buffet had amassed a considerable amount of wealth, translating to almost $100,000 today.
He poured his savings into stocks, investing in many of what would later become the country's 'big one-hundred' companies. His company, Berkshire Hathaway, made him a millionaire shortly after, and a billionaire just a decade later. His presence in American investing circles grew, and after his company released 'Class A' stock, he became one of the nation's wealthiest individuals.
Despite his immense financial success, however, Buffett has never been someone to show off his wealth. He lives in the same home he purchased over fifty years ago, drives an inexpensive car to his business engagements, and flew in public airplanes until just over twenty years ago. His very limited purchases as a CEO have been jokingly laughed at, and he lives a fairly frugal lifestyle.
This type of modesty, both financial and personal, is fairly rare amongst the world's super rich, and it reflects a sign of Buffett that the world is just beginning to see. A renowned philanthropist, he has promised to give ninety-nine percent of his wealth to charity upon his death in a partnership with Microsoft founder Bill Gates and his Bill Gates Foundation.
While Warren Buffett's slow, calculated rise to the top may not give you a burst of inspiration, it's a very important story nonetheless. Buffett's success shows the importance of deliberate practice, and its massive benefits for your life. Billion-dollar companies aren't built overnight – in Buffett's case, they're built through a lifetime of hard work, analysis, and smart decision making.
No comments:
Post a Comment