Warren Buffett made his first stock purchase at age 11. In 1942, he bought three preferred shares of Cities Service, an oil and utility company, for $38 per share.
The purchase came during the Second World War, when Buffett was still a schoolboy in Omaha. He bought the shares with money saved from his early business ventures and with help from his intense interest in stock tables and investing. His father, Howard Buffett, was a stockbroker and U.S. congressman, giving Warren unusually early exposure to markets.
Buffett later sold the shares for about $40 each after the price rose. He was disappointed when the stock subsequently climbed much higher, reportedly reaching about $202. He often presents the episode as an early lesson in patience and the danger of focusing too much on short-term price movements.
People sometimes confuse this milestone with Buffett’s first GEICO purchase, which came later, in 1951. The age-11 purchase refers specifically to his first stock investment, not to his first major business holding.