The character arc of Warren Buffett

A life drawn by Character Arc from the public record

Born on 30 August 1930 in Omaha, Nebraska. Between then and now sit a tax deduction claimed on a bicycle in 1944, a pinball machine bought in 1945 and sold in 1947, Wharton in 1947, a rejection from Harvard Business School in 1950, a Columbia master's in 1951, a job with Benjamin Graham in 1954, his own partnerships from 1956, Berkshire Hathaway from 1970, Charlie Munger as vice chairman in 1978 and The Giving Pledge in 2010. The line below draws the story so far, in order.

Tap the line to pluck it. Hover or tap any mark for its card. Drawn from the public record of his life; the sources are at the foot of the page.

Who is Warren Buffett?

Harvard said no.

He was born in Omaha in 1930, the only son of the congressman Howard Buffett. On his first income tax return, in 1944, he claimed a thirty five dollar deduction for the use of his bicycle and watch on his paper route, which tells you most of what you need to know. In 1945, as a high school sophomore, he and a friend spent twenty five dollars on a used pinball machine and put it in the local barber shop, and sold the business to a war veteran for twelve hundred dollars in 1947. He had bought land at fourteen with twelve hundred dollars of his savings, and by the time he left college he had 9,800 dollars.

In 1947 he entered the Wharton School, then transferred to the University of Nebraska and took a Bachelor of Science in business administration in 1951. In the spring of 1950 Harvard Business School rejected him. He enrolled at Columbia Business School instead, on learning that Benjamin Graham taught there, and took a Master of Science in economics in 1951. The rejection is the most important thing that happened to him, and he did not choose it.

He worked at his father's firm from 1951 to 1954, at Graham-Newman from 1954 to 1956, and when Graham retired and closed the partnership in 1956 he started his own. He ran investment partnerships as general partner from 1956 to 1969 and emerged as chairman and majority shareholder of Berkshire Hathaway in 1970, presiding over it until 2026. Charlie Munger joined him as vice chairman in 1978. He has pledged to give away ninety nine percent of his fortune and founded The Giving Pledge in 2010 with Bill Gates and Melinda French Gates, under which the very wealthy undertake to give away at least half of what they have.

The moments

Warren Buffett's timeline.

The 1940s

Jun 1944

A deduction for a bicycle

Milestone. Thirteen years old, and already deducting the bicycle.

Jun 1945

A pinball machine

Milestone, and it changed his direction. Twenty five dollars in, twelve hundred out.

Sep 1947

Wharton, then Nebraska

Milestone, and it changed his direction. Two universities, and 9,800 dollars saved before he left.

The 1950s

Apr 1950

Harvard turned him down

Setback, and it changed everything. Rejected, and the school that took him had the teacher.

1 Jun 1950

Where to study, after the rejection

Crossroads, decided.

The paths laid out: follow the teacher, taken, or apply again, or stop. He took a job at Benjamin Graham's partnership in 1954 and started his own in 1956.

Jun 1951

A master's at Columbia

Milestone, and it changed everything. The degree matters less than who was teaching it.

Jun 1954

Graham's partnership

Milestone, and it changed everything. Working for the man whose book had decided where he studied.

Jun 1956

He started his own

Milestone, and it changed everything. His teacher retired, so he started one of his own.

The 1970s

Jun 1970

Chairman of Berkshire

Milestone, and it changed everything. One chair, held for fifty six years.

Jun 1978

Munger joins him

Milestone, and it changed his direction. The partner he kept for forty five years.

The 2010s

16 Jun 2010

The Giving Pledge

Milestone, and it changed everything. Ninety nine percent, pledged out loud.

The 2020s

~2026

Chairman emeritus

Milestone, and it changed his direction. Fifty six years, and then the title changes.

The line reaches today still adding to itself, which is why it is drawn now rather than at the end. What it has set moving started with a door closing: Harvard said no in 1950, and the school that said yes was the one where his teacher was.

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Warren Buffett: frequently asked questions

What people ask about his line.

What is Warren Buffett's character arc?

A paper round, a pinball machine in a barber shop, and a rejection from Harvard Business School in 1950. He went to Columbia instead because Benjamin Graham taught there, worked for Graham from 1954, and led Berkshire Hathaway from 1970.

Was Warren Buffett rejected by Harvard?

Yes, by Harvard Business School in the spring of 1950. He enrolled at Columbia Business School instead, on learning that Benjamin Graham taught there, and took a Master of Science in economics in 1951. It is the most consequential thing on the line and he did not choose it.

How did Warren Buffett start out?

With a paper round. On his first income tax return in 1944 he claimed a thirty five dollar deduction for his bicycle and watch. In 1945 he and a friend bought a used pinball machine for twenty five dollars and sold the business for twelve hundred in 1947.

When did Warren Buffett take over Berkshire Hathaway?

He emerged as its chairman and majority shareholder in 1970, and presided as chairman and largest shareholder from then until 2026. He had run investment partnerships as general partner from 1956, after Benjamin Graham retired and closed his own.

Who did Warren Buffett learn investing from?

Benjamin Graham, whose presence at Columbia is why he went there after Harvard turned him down. He took a job at Graham's partnership in 1954 as a securities analyst on twelve thousand dollars a year, and started his own when Graham retired in 1956.

What has Warren Buffett given away?

He has pledged to give away ninety nine percent of his fortune, and founded The Giving Pledge in 2010 with Bill Gates and Melinda French Gates, under which the very wealthy undertake to give away at least half of what they have.

Who was Warren Buffett's business partner?

Charlie Munger, who joined him as vice chairman of Berkshire Hathaway in 1978 and held the role for the rest of his life. They were both born in Omaha, Nebraska, and had known each other for decades before that.

Where does this timeline of Warren Buffett's life come from?

From the public record. Character Arc drew every moment on this line from the sources listed at the foot of the page, and the kind and weight of each moment are our editorial reading. Warren Buffett isn't a Member of Character Arc and has no connection with it, and no feeling is attributed to him.

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Sources

Warren Buffett, English Wikipedia biography, filed under living people.
Columbia Business School and University of Nebraska degree records, 1951.
The Giving Pledge, founded 2010.