Welcome back to another week of Trivia Tuesday. For this week’s Trivia Tuesday, SprinkleBit is providing you with 5 facts to know about Warren Buffett, the multi-billionaire investor extraordinaire.
#1 Warren Buffett bought his first stock at the age of eleven.
-Buffett purchased three shares of City Service at $38 per share. After buying the stock, its value plunged to $27 per share. However, Buffett held on to the shares until they were valued back up to $40. He quickly sold the shares only to find that their value would soar to about $200 per share.
#2 Warren Buffett made $1,200 selling pinball machines in high school.
-Buffett had a knack for making money when he was younger. He purchased a used pinball machine for $25 setting it up in a nearby barber. He later used the profits from the initial machine to purchase two more pinball machines. Within one year, Warren Buffett would sell them to a war veteran for $1,200.
#3 Warren Buffett owns a large number of shares in Coca-Cola, Wells Fargo, IBM, and Walmart to name only a few investments.
-Buffett’s style of investing focuses on the value-investing – buying stocks less than their true value. One of his simple theories is that brand power should hold as much weight as financial measurements when considering investing in a company. His long-term stake in Coca-Cola reflects his theory.
#4 Warren Buffett’s company, Berkshire Hathaway Inc. currently has a value of over $170,000 per share.
-Berkshire Hathaway Inc. is a holding company with over 60 companies under its belt including subsidiaries such as Geico, Fruit of the Loom, and Dairy Queen to name a few. His management style is quite unique, simply writing a letter to each company’s CEO regarding the goals for the coming year. After that, no phone calls or meetings are made to check on them.
#5 As of 2013, Buffett has a net worth of $53.5 Billion
-That puts him as the second richest man in America, behind Bill Gates who himself has a net worth of $67 Billion. In spite of his net worth, Warren Buffett retains a modest lifestyle, living in the same house that he purchased in 1958 for $31,500.