Warren Buffett is probably the most prolific investor of our time.
Even at 92, the “Sage of Omaha” Warren Buffett has earned the respect of Wall Street as he continues his successful years in the venture capital world. He is considered the largest investor ever, with a net worth of over $100 billion.
And despite a tough stock market that has seen many business leaders lose millions of dollars, America’s most generous billionaires have given to charity more than ever before.
According to Forbes data, the country’s 25 largest philanthropists, including Warren Buffett, will have donated $196 billion by the end of 2022.
Warren Buffett talent
Buffett showed his business acumen at an early age. He bought his first shares at the age of 11 and invested in several startups. Lilly and Congressman Howard Buffett were born in 1930. His father also owned a small brokerage firm, which was very attractive to young Warren. He spent many hours listening to investors’ chatter and their passionate work, which eventually drew him to her.
He went to Rose Hill Elementary School in Nebraska and then graduated from Woodrow Wilson High School in 1947. His photo in the senior yearbook read, “I love math, future stockbroker.”During a trip to New York with his father, he dined with Dutchman At Moll, a brilliant Wall Street stockbroker. After the meal, a gentleman came in with a tray with various kinds of tobacco leaves. Mr. Moll picked up the leaves he wanted and made him a cigar. Then I thought, This is it, Buffett doesn’t remember the day that will define the rest of his life: “a personal cigar.”
Buffett was drawn to investing and business early on and worked various odd jobs. In his sophomore year, he started working with a friend. They buy a pinball machine and install it at a local barbershop. Within a few months, they owned several pinball machines, which were placed in three barbershops throughout Omaha. Buffett later sold the company to a war veteran for $1,200.
Warren wanted to start working right after school, but his father insisted that he finish his education. So he reluctantly agreed to join the University of Pennsylvania and later transferred to the University of Nebraska, graduating three years later with a degree in business administration. While studying at Columbia Business School, he met Benjamin Graham and David Dodd, well-known security analysts. They remained friends for life. Both men had a great influence on the young Warren.
Graham was called the Dean of Wall Street. He pioneered the concept of value investing, which has become a cornerstone of Buffett’s investment philosophy. Buffett later stated in an interview that taking Graham’s lessons on stock analysis and reading his book, The Intelligent Investor, played an important role in his training as an investor.
Buffett began his career as an investment salesman, then partnered with Graham to form a partner firm. He founded the Buffet Partnership in 1956. In 1962, he saw an immediate investment opportunity in a New England textile company called Berkshire Hathaway. Turn it into a diversified holding company. Today he is the President and CEO of The Hathaway Corporation.
Since 1970, she has also been the company’s largest shareholder. Warren became a billionaire when Hathaway began trading Class A shares in 1990. Ironically, the Berkshire acquisition is also one of Buffett’s biggest regrets.
Warren Buffett laid the foundations for value investing. Identify potential undervalued companies and turn them into great companies; A classic example is Berkshire Hathaway.
He invested in Berkshire not knowing much about textiles, and eventually turned the company around. Today Berkshire is one of the largest holding groups with business interests in many companies.
…and massive stock sales
For months now, Warren Buffett’s Berkshire Hathaway has embarked on a wave of selling shares in Chinese electric car maker BYD. His company sold about 1.55 million shares of Hong Kong-listed BYD on Jan. 27, according to an exchange filing on Thursday.
From the sale, Berkshire raised $45 million. Warren Buffett had a stake of about 20% in the Chinese company.
Since last August, his company has launched a series of BYD share sales, which has now reduced its stake to 12.9%.
In particular, the company has made eight significant deals in the past six months. Buffett has been rumored to be considering selling his stake since July, and the news alone sent BYD shares plummeting.
Warren Buffett bought 225 million shares of BYD in 2008 for $230 million. According to the Chinese company, Western Capital LLC, which is 100% controlled by Berkshire Hathaway, is BYD’s fourth largest shareholder.
Buffett’s participation gave a huge boost to the company, which has seen a 2,000% jump since 2008. The Shenzhen-based automaker also produces its own batteries and chips for electric cars.