Warren Buffett bought a pinball machine for $25 in 1946 to start 'the best business I was ever in' [CNBC]
Berkshire Hathaway Inc. New (BRK.B)
Last berkshire hathaway inc. new earnings: 11/2 07:00 am
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Source: CNBC
Before Warren Buffett started making billions, he was a teen hustling to grow his bank account. His various early business schemes earned him $5,000 , the equivalent of about $53,000 today, before he turned 20. One of his most lucrative ideas involved setting up pinball machines in barber shops, he told longtime friend Bill Gates during a visit to a candy store in Omaha during this year's Berkshire Hathaway shareholder meeting: I bought a machine for $25 in 1946 and built a small empire out of it. Buffett was 17 at the time and let his friend Don Danley in on his business idea. Danley's side of the deal was to fix up the old pinball machine while Buffett handled negotiations with the barber, Frank Erico. As Buffett told his biographer Alice Schroeder, his pitch to Erico went something like this: We represent Wilson's Coin-Operated Machine Company, and we have a proposition from Mr. Wilson. It's at no risk to you. Let's put this nickel machine in
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BRK.B
Earnings
- 2/26/24 - Beat
BRK.B
Sec Filings
- 4/18/24 - Form FWP
- 4/10/24 - Form PX14A6G
- 4/9/24 - Form 424B5
- BRK.B's page on the SEC website