How did Warren Buffet make his first million?
Warren Buffett made his first million through his initial investments. He showed an interest in business and investing from a young age.
His first significant move was when he purchased a small company called Buffett Partnership Ltd. in 1956, after graduating from Columbia University. He learned value investment from Ben Graham at Columbia, which later became very helpful for him in finding undervalued stocks. He started with about $100,000 from family and friends and used his knowledge to buy undervalued stocks.
By the early 1960s, Buffett’s investments were performing exceptionally well. In 1965, he took control of Berkshire Hathaway, a textile manufacturing company. He began to shift the company’s focus to investing in other businesses. By 1968, his net worth hit $1 million, through the success of his investment strategies and the growth of Berkshire Hathaway.
Image Attribution: Mark Hirschey, CC BY-SA 2.0 https://creativecommons.org/licenses/by-sa/2.0, via Wikimedia Commons
