In This Article:
Legendary investor Warren Buffett was born in 1930. The “Oracle of Omaha” turns 90 on August 30 and has lived through 10 decades now.
Buffett has been one of the greatest investors of the last six decades and remains the active chairman of Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B). This article will showcase a highlight from each decade of Buffett’s personal and investment career.
1930: Warren Buffett was born Aug. 30, 1930. His father Howard was a former stockbroker, which would have a huge influence on Buffett’s decision to get involved with the business.
1940: Buffett purchased his first stock at the age of 11. The purchase was for three shares of Cities Service Preferred, a natural gas company. Buffett bought the shares at $38 only to see them soon drop to $27 each. He waited until they hit $40 to sell for a profit. Shares later hit $200 each, which Buffett has since cited as a lesson on patience in investing.
1950: Despite his growing wealth, Buffett has lived in the same house in Nebraska, Omaha since 1958. The home was purchased for $31,500. Adjusted for inflation, that would be the equivalent of over $282,000 today.
1960: By the year 1965, Buffett had assumed control of textiles company Berkshire Hathaway thanks to acquiring 49%. He became a director of the company and would work on gaining full control and also diversifying the company away from textiles.
1970: Warren Buffett became the author of the annual Berkshire Hathaway letters in the 1970s. These letters are considered must-reads for investors and every year, what Buffett writes to shareholders is analyzed with great detail. The letters include explanations for investments or why items were sold. The letters also include life lessons and memorable quotes from the “Oracle of Omaha.”
1980: In 1988, Buffett started accumulating shares of Coca-Cola (NYSE: KO) for Berkshire Hathaway. After several large purchases, Berkshire Hathaway owned 7% of the company worth $1.02 billion. Buffett has a long history with Coca-Cola, once selling bottles for a penny profit. Berkshire Hathaway still owns 800 million shares of KO, worth nearly $18 billion.
1990: Geico insurance has been one of the biggest pieces for Berkshire Hathaway since it acquired full control in the 1990s. Berkshire acquired the insurance company by buying out the 49% it did not own up until this point. Buffett had been an investor of Geico shares dating back to 1951. Benjamin Graham, Buffett’s mentor and professor, was once the chairman of Geico. The insurance company is forever linked to two of the most well-known investors.