Warren Buffett may have retired from his post at the helm of the firm he made into a household name, Berkshire Hathaway, at the beginning of this year, but his philosophy continues to leave an impact in the realm of investing and wealth creation. “The Oracle of Omaha” came by his name due to his legendary knack for picking investment and acquisition winners – Buffett oversaw the purchase of See’s Candies, GEICO, and Dairy Queen – but he actually made his first million by age 32, according to Forbes, or when he was 31 (per a Buffett partnership letter dated Jan. 24, 1962). Learn More: Warren Buffett’s 16 Life Hacks That Anyone at Any Income Level Can UseFind Out: 9 Subtly Genius Things All Wealthy People Do With Their Money — That You Should Do, TooSo how exactly did Buffett manage to carve out his first $1 million? The answer is quite interesting, so let’s get to it. Buffett’s Boyhood: Purchasing Stocks and Real Estate While Selling Coca-Cola Door-to-Door Warren Buffett was apparently always in possession of an entrepreneurial spirit, born to Howard and Leila Buffett on Aug. 30, 1930. His father, a four-term U.S. congressman and stockbroker, may have had at least some influence on the boy who would become a world-famous investment guru. Buffett purchased his first stock at age 11, and held a paper route (and sold Coca-Cola on a door-to-door basis) in the years thereafter, according to Fortune. At age 14, based on the profits earned from his side hustles, Warren purchased 40 acres of land. He would then rent that land out to create consistent passive income. Academic Life and Mentorship Helps Sculpt the Oracle of Omaha It didn’t take long for Warren Buffett to kick off his academic career: He was accepted to the University of Pennsylvania at just 16 years of age, transferring after two years of study to attend the University of Nebraska. AdvertisementAn undergraduate degree wouldn’t serve as the finish line in terms of Buffett’s formal studies, with his father successfully advocating for him to pursue a graduate degree. And while Harvard declined Buffett’s application, Columbia University gave him the nod. There, Buffett studied under a man who would become something of mentor to him – Benjamin Graham, termed “the father of value investing,” per a 1957 letter.A few years after graduation, Buffett was offered a job by Graham, relocating to New York City. Putting Graham’s theory of value investing – spotting and buying stocks which were severely undervalued versus an assessment of underlying assets – to work, Buffett reinforced his understanding of “intrinsic value,” a theory he would employ to great effect in his later years. Charlie Munger, Buffett Associates, Berkshire Hathaway, and the Golden Rule Buffett’s 1956 launch of Buffett Associates following a return to Omaha, and then a fast friendship and collaboration with long-time business partner Charlie Munger in 1959, ended up in the eventual controlling interest in Berkshire Hathaway – then a textile mill in dire condition. Buffett, Munger and other power players would eventually turn that investment into the foundation for a world-famous conglomerate. In the end, despite his timeless financial lessons – including to “avoid credit cards,” and to focus on fundamentals rather than macroeconomic forecasts – Buffett remains a modest and grounded personality who firmly believes in the power of kindness as one of the best investments. “Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government,” he stated in a November 2025 letter. “When you help someone in any of thousands of ways, you help the world. Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior.”This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.More From MoneyLion:
