Loading the player...
A:

Warren Buffett never had the intention of going to college. By age 13, he was managing his own business as a paperboy. He ended up making over $5,000 (equivalent to $42,610 in the year 2000) delivering newspapers. However, his father urged him to attend the University of Pennsylvania for business.

Buffett enrolled himself in Wharton School at the University of Pennsylvania at age 16 to study business. After two years of complaining that he knew more than his professors, he moved on to the University of Nebraska in Lincoln and finished his degree. He graduated from the University of Nebraska at age 19 with a Bachelor of Science degree in business administration.

Unhappy with educational stagnancy, Buffett applied to Harvard. After receiving a rejection letter from Harvard's business school, he researched Columbia University, where he found out Benjamin Graham worked. This was appealing to Buffett and he ended up attending Columbia University. He earned a Master of Science in economics from Columbia in 1951. Shortly after graduation from Columbia, Buffett attended the New York Institute of Finance for a short period of time.

In 1951 Buffett also became an investment salesman for Buffett-Falk & Company. He later became a securities analyst and a partner at Buffett Partnership, Ltd. By 1970, he had become the Chairman and CEO of Berkshire Hathaway, where he still works today. Headquartered in Buffett's hometown of Omaha, Nebraska, Berkshire Hathaway operates as one of the world's largest corporate investment firms. The company trades on the New York Stock Exchange (NYSE) in two categories. The company wholly owns Dairy Queen, Fruit of the Loom, Helzberg Diamonds, GEICO, BNSF, FlightSafety International and NetJets. The company also owns a diverse range of other popular companies.

Though Buffett attended various reputable schools, he debates that higher education is not for everyone and that experience is just as important. Though Buffett received a sufficient education, he always had a knack for business. At age 6 he purchased packs of Coca-Cola and chewing gum and sold them door to door, thus turning a profit. By age 11, he was investing in stocks. He then went on to deliver newspapers and magazines, which earned him about $175 per month. In high school, Buffett began buying pinball machines and making money by placing the machines in popular shops for customers to play.

Buffett has advice for college students, which is to obtain at least one share of BRK.B. along with their first tuition check. He also recommends that graduates find job they would have if they were independently rich and could do whatever they wanted. This leads people to perform with passion, which in turn equates to monetary rewards and overall wealth.

RELATED FAQS
  1. How did Warren Buffett get started in business?

    Warren Buffett may have been born with business in his blood. He started saving while other children were at the playground, ... Read Answer >>
  2. How does the "Buffett Premium" increase Berkshire Hathaway's stock price?

    Explore the theory that Berkshire Hathaway stock carries a Warren "Buffet Premium" that would disappear upon his death and ... Read Answer >>
  3. Why does Warren Buffett largely avoid investing in the technology sector?

    Learn about why Warren Buffett has traditionally avoided investing in technology companies. Read about his value investing ... Read Answer >>
  4. What is Warren Buffett's annual salary at Berkshire Hathaway?

    Learn more about how much Warren Buffett receives in salary and how he continues to stay involved with his company and his ... Read Answer >>
  5. Does Warren Buffett invest in gold? Why or why not?

    Discover what Warren Buffett's investment stance is toward gold and silver, why he likes one of them a lot and the other ... Read Answer >>
  6. What's the best way to contact Warren Buffett?

    Learn how to contact Warren Buffett and what kinds of contact is most likely to receive a response from him or from his company, ... Read Answer >>
Related Articles
  1. Insights

    Warren Buffett Biography

    Warren Buffett is one of the top investors in the world. Learn more about his amazing life and path to success.
  2. Insights

    Warren Buffett: The Road To Riches

    Find out how he went from selling soft drinks to buying up companies and making billions of dollars.
  3. Small Business

    Questions For Warren Buffett

    What would you ask this legendary investor, especially if you were told you could only ask five questions?
  4. Insights

    4 Reasons Buffett's Portfolio Is Irrelevant to Today's Investors (AXP, KO)

    Find out why investors should not try to emulate Warren Buffett's stock portfolio and why they could not achieve his same level of success.
  5. Investing

    Buffett on Stocks and the FBI (IBM,KO,DOW,AAPL)

    Investment legend Warren Buffett was interviewed by CNBC's Squawk Box Monday to discuss his investment firm's position on the markets. Here's what Buffett is saying about stocks.
  6. Investing

    Where Does Warren Buffett Keep His Money?

    Understand who Warren Buffett is and how he made most of his net worth. Learn about the main places and investment vehicles where Buffett keeps his money.
  7. Managing Wealth

    Warren Buffett: Oracle No More?

    Though he's an investing icon, critics are pointing to several past events that signal Buffett's reign may be ending.
  8. Investing

    The Best Books On Warren Buffett

    These six books aren’t as satisfying as owning Berkshire shares has been for the last 45 years, but there is a lot of knowledge and enjoyment in them nonetheless
RELATED TERMS
  1. Berkshire Hathaway

    A holding company for a multitude of businesses run by Chairman ...
  2. Oracle Of Omaha

    A nickname for Warren Buffett, who is arguably one of the greatest ...
  3. Columbia Business School

    This is one of the top business schools in America and is located ...
  4. Benjamin Graham

    A scholar and financial analyst who is widely recognized as the ...
  5. Michael Bloomberg

    Michael Bloomberg is one of the wealthiest persons in the world ...
  6. Peter Lynch

    One of the most successful and well known investors of all time. ...
Hot Definitions
  1. Treynor Ratio

    A ratio developed by Jack Treynor that measures returns earned in excess of that which could have been earned on a riskless ...
  2. Buyback

    The repurchase of outstanding shares (repurchase) by a company in order to reduce the number of shares on the market. Companies ...
  3. Tax Refund

    A tax refund is a refund on taxes paid to an individual or household when the actual tax liability is less than the amount ...
  4. Gross Domestic Product - GDP

    The monetary value of all the finished goods and services produced within a country's borders in a specific time period, ...
  5. Inflation

    The rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of ...
  6. Merchandising

    Merchandising is any act of promoting goods or services for retail sale, including marketing strategies, display design and ...
Trading Center