Warren Buffett Earned Enough Money As A Kid Selling Gum, Coca-Cola And Delivering Newspapers To Buy 40 Acres Of Farmland At Age 15

While he’s now known as one of the most successful investors of all time, Warren Buffett showed his entrepreneurial spirit and ability to hustle from a young age.

Buffett’s critically acclaimed 2008 biography “The Snowball” by author Alice Schroeder provides an in-depth look into the billionaire’s drive and money-making mindset that manifested itself before he was even a decade old.

When he was only 6, Buffett earned his first cents selling sticks of gum in packs of five for a nickel. He had a strict rule of only selling the gum in packs, not individual sticks. A woman asked for one stick for a penny and little Buffett refused. “We don’t break up packs of gum. I mean, I’ve got my principles,” he told his biographer.

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He was also purchasing packs of Coca-Cola bottles and reselling them door-to-door. Buffett reportedly paid 25 cents for six bottles and sold them individually for a profit.

Buffett’s paper delivery job turned out to be particularly lucrative. Not only did he make money from his neighborhood route, but he also hired other kids to deliver for him and took a cut of their profits. The kid was unstoppable when he saw an opportunity to capitalize.

His business savvy and relentless work ethic allowed Buffett’s net worth to grow rapidly. From his various jobs, he earned $2,000, which is over $34,000 in today’s dollars when adjusted for inflation. Not one to let his earnings sit idly, he made his first major investment by purchasing farmland in his home state of Nebraska using $1,200 of his savings. He reportedly had a profit-sharing agreement with the farmer, according to his biography.

A year later, he had accumulated wealth equivalent to $53,000 in 2008’s dollar value, as documented in Schroeder’s biography. Adjusting for inflation, that amount is equivalent to over $76,000 today.

Buffett was offered admission to the prestigious Wharton School at the University of Pennsylvania. However, he already had a clear vision for his future — to live in Omaha, Nebraska, and focus on investing in stocks. Though his parents pushed him to attend college, Buffett only lasted three years at Wharton before returning home to finish his studies at the University of Nebraska, where his passion for investing could take center stage.

While most teenagers were focused on school, hobbies and hanging out with friends, Buffett was focused on becoming a self-made billionaire by constantly looking for business opportunities and ways to generate income. His drive and financial discipline as a kid laid the groundwork for the investment titan he would eventually become.

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This article Warren Buffett Earned Enough Money As A Kid Selling Gum, Coca-Cola And Delivering Newspapers To Buy 40 Acres Of Farmland At Age 15 originally appeared on Benzinga.com

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