13 mind-blowing facts about Warren Buffett and his wealth

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Photo: Lacy O’Toole/CNBC/NBCU Photo Bank/Getty Images

Warren Buffett was picking out stocks at 11 years old — and he amassed the equivalent of $US53,000 in today’s dollars by the time he was 16.

Today, the 85-year-old investing legend has an estimated net worth of over $US70 billion, according to Forbes, making him the third richest man in the world.

Inspired by a Quora thread asking “What are some mind-blowing facts about Warren Buffett,” we rounded up 13 astonishing facts about the “Oracle from Omaha” and his massive amount of wealth:

[slideshow]
[slide
permalink=”/#he-bought-his-first-stock-at-age-11-2″
title=”He bought his first stock at age 11.”
content=”He purchased multiple shares of Cities Service Preferred for $US38 apiece.

Source: GOBankingRates
image=”http://static.businessinsider.com/image/56017c499dd7cc1a008bc22c/image.jpg”
source=”Airbnb”
caption=”Buffett’s childhood home.”
credit_href=””
]
[slide
permalink=”/#when-buffett-was-a-teen-he-was-already-raking-in-about-175-a-month–more-than-his-teachers-and-most-adults-3″
title=”When Buffett was a teen, he was already raking in about $175 a month — more than his teachers (and most adults).”
content=”He pulled this off by dutifully delivering the Washington Post.

Source: Business Insider
image=”http://static.businessinsider.com/image/56017db19dd7cc25008bc2b7/image.jpg”
source=”AP Images”
caption=”Buffett started tossing papers as a teen.”
credit_href=””
]
[slide
permalink=”/#he-had-amassed-the-equivalent-of-53000-by-the-time-he-was-just-16-4″
title=”He had amassed the equivalent of $53,000 by the time he was just 16.”
content=”Paper delivery was just one of many small businesses teenage Buffett orchestrated: He sold used golf balls and stamps, buffed cars, set up a pinball machine business, and turned a horse track into a lucrative playground.

Source: Business Insider
image=”http://static.businessinsider.com/image/560188e29dd7cc1d008bc358/image.jpg”
source=”AP Images”
caption=”Buffett knew how to make money from an early age.”
credit_href=””
]
[slide
permalink=”/#he-was-rejected-from-harvard-business-school-5″
title=”He was rejected from Harvard Business School.”
content=”Buffett, confident he nailed his admissions interview, had already told a friend, ‘Join me at Harvard.’

‘I looked about 16 and and emotionally was about nine,’ he recalled of the in-person interview. Forced to look elsewhere, he settled on Columbia University, which only required a written application and no interview.

Source: Business Insider
image=”http://static.businessinsider.com/image/56018538bd86ef1c008bc2b0/image.jpg”
source=”Flickr/Florian Pilz”
caption=”Harvard Business School.”
credit_href=””
]
[slide
permalink=”/#his-idol-refused-to-hire-him-the-first-time-he-applied-6″
title=”His idol refused to hire him the first time he applied.”
content=”Buffett originally wanted to work with his idol, and author of ‘The Intelligent Investor,’ Benjamin Graham, but Graham rejected him because he wasn’t Jewish.

Buffett wouldn’t take no for an answer, and continued pitching Graham ideas until he eventually hired him.

Source: James Altucher
image=”http://static.businessinsider.com/image/560186eabd86ef19008bc27c/image.jpg”
source=”AP Images”
caption=”Benjamin Graham (left).”
credit_href=””
]
[slide
permalink=”/#buffett-spent-100-to-take-a-dale-carnegie-course-on-public-speaking-7″
title=”Buffett spent $100 to take a Dale Carnegie course on public speaking.”
content=”He was 21 and terrified of public speaking. It ended up being a worthy investment, as the course helped him propose to his wife.

Source: Business Insider
image=”http://static.businessinsider.com/image/56017b1e9dd7cc19008bc350/image.jpg”
source=”Brendan Hoffman/Getty”
caption=”Warren Buffett and his current wife, Astrid.”
credit_href=””
]
[slide
permalink=”/#his-house-is-a-humble-five-bedroom-in-omaha-nebraska-that-he-bought-in-1956-for-31500-8″
title=”His house is a humble five-bedroom in Omaha, Nebraska that he bought in 1956 for $31,500.”
content=”If you want to be Buffett’s neighbour, the house across the street will cost you about $US2.15 million.

Source: James Altucher
image=”http://static.businessinsider.com/image/5601ca98bd86ef1f008bc4dd/image.jpg”
source=”Shutterstock”
caption=”Omaha, Nebraska.”
credit_href=””
]
[slide
permalink=”/#buffett-doesnt-keep-a-computer-on-his-desk-and-he-chooses-to-use-a-flip-phone-rather-than-a-smartphone-9″
title=”Buffett doesn’t keep a computer on his desk, and he chooses to use a flip phone rather than a smartphone.”
content=”There is, however, a World Book Encyclopedia set on his shelf.

Source: James Altucher, Business Insider, and CNN
image=”http://static.businessinsider.com/image/56017e6a9dd7cc23008bc31d/image.jpg”
source=”CBS News”
caption=”The most high-tech gadget you’ll find in his office is a land line.”
credit_href=””
]
[slide
permalink=”/#in-fact-hes-only-sent-one-email-in-his-life-to-jeff-raikes-of-microsoft-10″
title=”In fact, he’s only sent one email in his life, to Jeff Raikes of Microsoft.”
content=”Source: CNN
image=”http://static.businessinsider.com/image/5602cbb19dd7cc14008bc7dc/image.jpg”
source=”Scott Olson/Getty”
caption=”Buffett has successfully evaded technology over the years.”
credit_href=””
]
[slide
permalink=”/#he-spends-80-of-his-day-reading-12″
title=”He spends 80% of his day reading.”
content=”When he’s not playing bridge, he’s reading. ‘I just sit in my office and read all day,’ he says.

Source: The Week
image=”http://static.businessinsider.com/image/56018a8a9dd7cc23008bc376/image.jpg”
source=”AP Images”
caption=”80% of Buffett’s day is dedicated to reading.”
credit_href=””
]
[slide
permalink=”/#99-of-buffetts-wealth-was-earned-after-his-50th-birthday-14″
title=”99% of Buffett’s wealth was earned after his 50th birthday.”
content=”Source: Fool
image=”http://static.businessinsider.com/image/56018b3d9dd7cc1c008bc39a/image.jpg”
source=”AP Images”
caption=”And he doesn’t appear to be slowing down anytime soon.”
credit_href=””
]
[slide
permalink=”/#people-are-so-fascinated-with-the-legendary-buffett-that-theyll-spend-millions-of-dollars-to-eat-lunch-with-him-21″
title=”People are so fascinated with the legendary Buffett that they will spend millions of dollars to eat lunch with him.”
content=”Buffett has been auctioning off a ‘power lunch‘ since 2000 at his charity event for GLIDE Foundation.

The highest bidder gets to bring up to seven people to dine with the steak-loving business magnate at Smith & Wollensky steakhouse in Manhattan, and the most recent winner paid $US2,345,678.

Source: Reuters
image=”http://static.businessinsider.com/image/56018e07bd86ef1c008bc2fd/image.jpg”
source=”Art Bochevarov/flickr”
caption=”Buffett’s lunch place of choice, Smith & Wollensky.”
credit_href=””
]
[slide
permalink=”/#he-doesnt-think-money-equals-success-i-measure-success-by-how-many-people-love-me-and-the-best-way-to-be-loved-is-to-be-lovable-22″
title=”He doesn’t think money equals success: ‘I measure success by how many people love me. And the best way to be loved is to be loveable.'”
content=”Source: James Altucher
image=”http://static.businessinsider.com/image/56018e30bd86ef17008bc301/image.jpg”
source=”AP Images”
caption=”Warren Buffett.”
credit_href=””
]
[/slideshow]