There was one hour interview on CNBC with Warren Buffet, the richest man who has donated $31 billion to charity. Here are some very important aspects of his life:
- He bought his first share at age of 11 and then regrets that he started too late!
- He bought a small farm at age 14 with savings from delivering newspapers.
- He still lives in the same 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 fence.
- He drives his own car everywhere and does not have a driver or security people around him.
- He never travels by private jet, although he owns the world’s largest private jet company.
- 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:
- Do not lose any of your shareholder’s money.
- Do not forget rule number 1.
- He does not socialize with high society crowd. His pass time after he gets home is to make himself some pop-corn and watch television.
- Bill Gates, the world’s richest man met him for the first time, he 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 Buffet does not carry a cell phone, nor has a computer on his desk.
His advice to young people: “Stay away from credit cards and invest in yourself and remember:
- Money doesn’t create man but it is the man who created man.
- Live your life as simple as you are.
- Don’t do what others say, just listen them, but do what you feel good.
- Don’t go on brand name; just wear those things in which you feel comfortable.
- Don’t waste your money on unnecessary things; just spend on them who really in need rather.
- After all it’s your life then why you give chance to others to rule your life!”