REPOST: 20 Surprising facts about Warren Buffett (Entrepreneur.com)

Did you know that Warren Buffett earned 94 percent of his wealth after he turned 60? That and 19 other interesting things about the “Oracle of Omaha” from this article on ENTREPRENEUR:

 

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Often referred to as the “Oracle of Omaha” — Nebraska native Warren Buffett is an investing legend, business magnate and philanthropist.

When he was 11, Buffett already bought stock, and by 16 he had amassed more than $53,000 from various business ventures and investments. From a young age, Buffett was bound for success.

Although, like anyone else, he faced setbacks. From being rejected at Harvard Business School to getting told he would fail by his father-in-law, hard work and resilience pushed Buffett towards success. Today, he’s recognized for his achievements and uses his money for the greater good.

From using a Nokia flip phone to pledging 85 percent of his Berkshire Hathaway stocks to various charitable foundations, check out these 20 Warren Buffett facts that might surprise you.

  1. He bought his first stock when he was 11-years-old.

While most 11-year-old boys were playing T-ball and reading comic books, Buffett bought stocks. In the spring of 1942, at 11-years-old, Buffett purchased shares of Cities Service Preferred for $38 a piece.

  1. He made $53,000 by the age of 16.

Even since he was young, Buffett’s not only been tactful, but also an extremely hard worker.

When his family moved to Omaha, Neb., Buffett delivered The Washington Post every morning and brought in about $175 a month (that’s more than most teachers made during that time).

He also pursued a few side gigs such as selling used golf balls and collector stamps and buffing cars. By the time he turned 16, he had amassed the equivalent of $53,000.

  1. He was rejected from Harvard Business School.

After graduating from the University of Nebraska in three years, Buffett applied to Harvard Business School. But during a brief interview with the school that would determine his acceptance, the staff said to Buffett: “Forget it. You’re not going to Harvard.”

After much disappointment from the rejection, Buffett discovered that his idols Benjamin Graham (“the father of value investing”) and David Dodd were professors at Columbia Business School.

“I wrote them a letter in mid-August,” Buffett shares. “I said, ‘Dear Professor Dodd. I thought you guys were dead, but now that I found out that you’re alive and teaching at Columbia, I would really like to come.’ And he admitted me.”

  1. He eats like a 6-year-old.

Buffett’s secret to staying young? Coca-Cola and ice cream.

In an interview with Fortune, Buffett claimed he is “one quarter Coca-Cola” — “If I eat 2,700 calories a day, a quarter of that is Coca-Cola. I drink at least five 12-ounce servings. I do it every day.”

Sometimes for breakfast, he eats a can of Utz potato sticks (yes — a can, not a bag) to accompany his soda. Other times he takes a sweeter approach and indulges in a bowl of ice cream to jump start his day.

When asked how he’s managed to stay healthy with such a salty and sugary diet, he said, “I checked the actuarial tables, and the lowest death rate is among 6-year-olds. So I decided to eat like a 6-year-old.”

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