Warren Buffett: The Life,

Lessons & Rules for

Success
Kurtis Weber

December 19, 2019

Warren Buffett
Warren Buffett is one of the most
prominent investors of the past
century. Buffett was born and
raised in Omaha, Nebraska. His
father was a U.S. Congressman; He
tried to heavily influence him to go
into politics. However, from very
young age, Warren Buffett was set
on being a businessman.
Warren Buffett
Early Life
Amateur Business Experience

When Buffett was just 6 years old, he sold Juicy Fruit

Gum to his classmates for a $0.02 markup. It seems
foolish, but with every experience in life he found
lessons:
- You’re never too young to start
- Experience is the best teacher
- Saving is an important skill to acquire
The Big Move
At the age of Twelve the Buffett family picked up from
Omaha and moved to Washington D.C. after his father
was elected to U.S. Congress.
Education

Warren Buffett graduated from Woodrow

Wilson High School in 1947. His senior
yearbook comment said “Likes math; A
future stockbroker.”

Afterwards he wanted to skip college, but his

father would not allow it; He attended the
University of Pennsylvania his first two years
of college. He then transferred to University
of Nebraska where he graduated with a
bachelor's degree in business administration.
Early Life Setbacks
Buffett applied to Harvard
business school to get a major

”
in Economics. He was rejected
and was upset at first, but then
after was happy about the
experience.

He enrolled in Columbia School

of business where he earned
that Master’s degree in
economics.
Early Career
Warren Buffett
Early Career

At the age of 27 Warren

Buffett held more partnerships
than anyone else at his age.

- He was very good at noticing

potential in companies.
- His early investments created lots
of profit.
- But he also had his setbacks
Acquisition of
Berkshire Hathaway
Buffett had over 1/7 control of the company
Berkshire Hathaway from his investment
holdings in the company. At this point in time
the company was a simple textile
manufacturing company.
- President of Berkshire Hathaway, Seabury
stanton, shorts his initial verbal request of
value per share for Buffett’s shares of the
company.
- Buffet combines his partnerships and buys the
majority of shares of Berkshire Hathaway.
- He names Ken Chase new President of
Berkshire Hathaway
Berkshire Hathaway Under Buffett

Warren Buffett has held control of the company

since 1970

- He remains the majority share hold

- Current chairman of the company

Since 1970 Berkshire Hathaway has turned from a

manufacturing company, to a multinational
conglomerate. They now currently own:

- Geico
- Dairy Queen
- Duracell
- BNSF Railway
- Heinz
- And many more
The Book
The book outlined his whole life, in
addition to the lessons he learned
from the different parts of his life. At
the end it outlined the
characteristics of success he abided
by to further Berkshire Hathaway
and his life.
I definitely recommend the book, for
those who might be going into
business profession. It is a quick and
easy read and has lots of valuable
information to be successful as a
businessman/ businesswoman.

The lessons
learned
During his early life, Early
career, and as leader for
Berkshire Hathaway
Early Life
- You’re never too young to start
- Experience is the best teacher
- Saving is an important skill to acquire
- Initial setbacks can sometimes be a blessing in
disguise. (Denied from Harvard.)
Early Career
- Production is necessary
- Never get too hung up on my mistake
- Consult someone on the big moves before
diving into an opportunity.
Leader at Berkshire Hathaway
- As important as it is to seek out mentors for
advice, you should always seek out your own
path.
 - Choose your own path
Characteristics -
-
Efficiency is key
Stay persistent
to be successful -
-
Production is necessary
Self assess yourself

These lessons and characteristics he

provides us with prove to be valuable
characteristics to be a good leader.
Legacy Warren Buffett will leave a legacy that
will not be able to be filled in the investor
world. He has created a multinational
conglomerate out of a simple
manufacturing company. His leadership in
Berkshire Hathaway will be unmatched
by successors, making him a pinnacle,
level 5 leader. This is displayed through
his ability to create something out of
nearly nothing, lead a company for 49
years, and create level 4 leaders within
his company and even outside of his
company. His legacy will be remembered
for years to come.
Works Cited

Staff, Investopedia. “Warren Buffett: How He Does It.” Investopedia, Investopedia, 30 Nov. 2019,
www.investopedia.com/articles/01/071801.asp.

https://www.berkshirehathaway.com

Warren Buffett: the Life, Lessons & Rules for Success. Influential Individuals, 2017.
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