It is difficult for young Americans to start their own wealth creation.
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Editor’s note: Contrasting the story of earlier generations of Americans getting rich, the new generation of billionaires is obviously better off from a young age, with a much simpler experience and more help from the family. Even from the post-war development history, it is becoming more and more difficult to achieve class leap and wealth accumulation, and the concentration of wealth is becoming more concentrated. The technology industry is currently the main industry for wealth creation, and the American dream has become more distant from the original. The story of young talents changing the world can always lead to the tide of young people, want to reach the same height as the new rich, but perhaps eventually found that they have no ladder. By Anne Vandermey & Tom Metcalf, original title Why Are Young Billionaires So Boring?
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Warren Buffett was young and his father was unemployed during the Great Depression. Without work, and after the bank was run on, there was no penny. The family of four had to dismantle and credit around in order to chat with less poor food. At that time, his mother, Leila Buffett, sometimes did not eat. Liila, who is under pressure, often rebukes his two young children.
Maybe the original suffering can be counted as a later starting point, and the economic conditions of the family are getting better. Warren’s father opened a stockbroking company and eventually became a four-member congressman. At the same time, the young Warren began to show his talent for numbers. According to The Snowball: Warren Buffett and the Business of Life, Warren is fascinated by timing everything, calculating odds, and even counting the Bible. The most frequent letters appear in the book. At the age of 15, he earned a number of studies by studying local newspaper distribution routes.