In 2008, the global economy experienced a financial crisis that was worse than what it went through in 1927. This crisis, blamed primarily on the collapse of the subprime mortgage industry, put a lot of big names out of business. Lehman Brothers, Washington Mutual and General Motors were just three of the few industry giants that filed for bankruptcy during that crisis. But while a lot of businessmen lost billions of dollars at that time, there was one person who managed to make billions of dollars in profit. You probably know who he is: Warren Buffet, the man who topped Bill Gates on the list of the world’s richest.
While the global markets were reeling from the financial crisis, Buffet did what a lot of people that time did not: he made investments. He took advantage of plunging market rates to buy off properties and businesses that he knew would make huge returns once the economy returned to normal. He decided to buy “while there was still blood on the streets,” as the saying goes. The result? He registered a cool $10-billion revenue out of those investments.