Billionaire Wisdom from Warren Buffett
The following is from a CNBC interview with Warren Buffet, the second richest man who has donated $31 billion to charity. Here are some very interesting aspects of his life:
1. He bought his first share at age 11 and he now regrets that he started too late!
2. He bought a small farm at age 14 with savings from delivering newspapers.
3. He still lives in the same small 3-bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
4. He drives his own car everywhere and does not have a driver or security people around him.
5. He never travels by private jet, although he owns the world's largest private jet company.
6. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis. He has given his CEO's only two rules.
1: Do not lose any of your share holder's money.
2: Do not forget rule number 1.
7. He does not socialize with the high society crowd. His favorite past time after he gets home is to make himself some pop corn and watch television.
8. Bill Gates, the world's richest man met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet. Warren looks after Bill's money now.
9. Warren Buffet does not carry a cell phone, nor has a computer on his desk.
Warren Buffett's advice to young people:
* Stay away from credit cards and invest in yourself.
* Money doesn't create man it is the man who created the money.
* Live your life as simply as you can.
* Don't do what others say, listen to them, but then do what you feel is the right thing to do.
* Don't buy brand names; instead just wear those things in that make you feel comfortable.
* Don't waste your money on unnecessary things; rather spend it on those who are really in need.
* It's your life so why allow others to rule our life.
If you're a serious business-person, check out the free mini-course on how billionaires do it.
No one gives better advice on how to become a billionaire than Warren Buffett!
Posted by: Katie Durane | April 16, 2010 at 04:31 PM
Unbelieveable, If we all live such a simple life half of world's probles will be gone.
Posted by: Tahir Ahmad | June 12, 2011 at 10:13 AM