Warren Buffet, the second richest man in the world who has recently donated $31 billion to charity was interviewed on CNBC.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 CEO's 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. Rule number 1: do not lose any of your share holder's money. Rule number 2: Do not forget rule number 1.
7. He does not socialize with the high society crowd. His past time after he gets home is to make himself some popcorn 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.
9. Warren Buffet does not carry a cell phone, nor has a computer on his desk.
Buffets advice to young people is to remember:
A. Money doesn't create man but it is the man who created money.
B. Live your life as simple as you are.
C. Don't do what others say, just listen to them, but do what you feel is good.
D. Don't go on brand name; just wear those things in which you feel comfortable.
E. Don't waste your money on unnecessary things; rather spend on those who are really in need.
4 comments:
Buffet is the King... I highly recommend" "Making of American Capitalist" by Roger Lowenstein... best Buffet book i have read by far.
2 things:
1. Buffet is now third in world - some mexican called carlos
2. i am sure buffett and gates have been mates longer than 5 years - they go on annual trips too
Carlos Helu. He's in telecomm and is a household name in Mexico. LOVE the Buffet bullets, thanks.
Just some corrections about Warren Buffett.
1. "He never travels by private jet, although he owns the world's largest private jet company."
Warren bought a 2nd hand Falcon Jet in 1986. As he had become increasingly recognizable, it was no longer comfortable for him to fly commercially. The idea of the luxury was hard for him to adjust to, but he loved the jet immensely. The passion for jets eventually, in part, led him to purchase Executive Jet in 1998.
2. "His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEO's of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis."
He writes only one letter to Berkshire's shareholders which he discusses during the annual shareholder's meeting. This once in a year letter is for the shareholders not for the CEOs. How can you possibly run a company without even holding a meeting with the CEO?? He even gave his home phone number to some CEOs so they can call him anytime. These CEOs occassionally call Warren for some advise, and when Warren is asked to come to the company, he does not hesitate to go to the company to discuss the problem that's troubling the CEO. But of course, compared to other owners of a company, he holds meetings and calls a lot less.
3. "He does not socialize with the high society crowd."
He does socialize with high-society crowd. Buffett mingles with a crowd of CEOs, politicians, famous athletes, and others. He is also known for his great network. He even had golf with Pres. Clinton when Clinton was still a President.
4. "Warren Buffet does not carry a cell phone, nor has a computer on his desk."
He now owns a computer and regularly plays online bridge with Bill Gates.
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