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He is one of the most successful and very interesting multi-Billionaire this century has to offer. Decorated with triumph one after the other, he defied the expectations of how a rich man does and live the opposite instead. He keep himself humble, friendly, and simple. I read an article that I eventually reposted in facebook from greenyatra/facebook about the life of this greatest money-maker.
There was a one hour interview on CNBC with Warren Buffet, the second richest man who donated $31 billion to charity. Following are some interesting aspects of his life that will surely surprise you.
1. He bought his first share at age 11 and he now regrets that he started too late!
Things were very cheap that time, so encourage your children to invest and lead them the way to start young. When Buffett was a teen, he was already raking in about $175 a month — more than his teachers (and most adults). Read more: Business Insider.
2. He bought a small farm at age 14 with savings from delivering newspapers
One could have bought many things with little savings. Encourage your children to start some kind of business. Best things are prepared for those who started early in life. Paper delivery was just one of many small businesses teenage Buffett orchestrated: He sold used golf balls and stamps, buffed cars, set up a pinball machine business, and turned a horse track into a lucrative playground. Read more: Business Insider.
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.
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Don't buy more than what you "really need" and encourage your children to do and think the same. You have to distinguished what are assets and liabilities and from there, you can make a wise decision habit. Warren is maintaining to live away from luxurious life. His attitude does not change over the years.
4. He drives his own car everywhere and does not have a driver or security people around him.
You are what you are. Keep a frugal and simple lifestyle. Super billionaires have something in common and they are living a very prudent life it does not mean that they are hoarding their money but that's how they are wire in. Frugality has already been a part of their lives.
5. He never travels by private jet, although he owns the world's largest private jet company.
Always think how you can accomplish things economically.
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 meeting or calls them on a regular basis.
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Assign the right people to the right jobs. Warren is surrounded with best team in the world and understands well his vision for his company. Set goals and make sure people focus on them.
7. He has given his CEO's only two rules:
Rule #1: Do not lose any of your shareholder's money
Rule #2: Do not forget rule #1.
8. He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television.
Don't try to show off, just be yourself and do what you enjoy doing.
9. Warren Buffet does not carry a cellphone, nor has a computer on his desk.
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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 half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
His Advise to Young People:
"Stay Away from credit cards (bank loans) and invest in yourself and Remember;
A. Money does not create a 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 them, but do what you feel 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; just spend them who really in need rather
F. After all it's your life then why give chance to others to rule your life
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