Thursday, January 19, 2012

Very inspiring aspects in life of the 2nd richest man on earth

There was a one hour interview on CNBC with WARREN BUFFET, the world’s second richest man who has donated $31 billion to charity. Following are some very interesting aspects of his life:

1. He bought his first share at age 11 and he now regrets that he started late.
Things were very cheap that time, encourage your children to invest.

2. He bought a small farm at age 14 with savings from delivering newspaper.
One could have bought many things from little savings. Encourage your children to start some kind of business.

3. He still lives in the same small 3-bedroom house in mid-town Ohama that he bought after he got married 50years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
Don’t buy more than what you really need. And encourage your children to do and think the same.

4. He drives his own car everywhere and does not have a driver or security people around him.
You are what you are.

5. He never travels by private jet, although he owns the world’s largest private jet company.
Always think how you 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.
Assign the right people to the right jobs.

7. He has given his CEO’s only two rules:
Rule no.1: do not lose any of your shareholder’s money.
Rule no.2: do not forget rule no.1.
Set goals and make sure people focus on them.

8. 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.
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.

10. Bill Gates, the world’s richest man met him for the first time only 5years 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 Warren Buffet became an inspiration for Bill Gates.

11. His advice to young people: “Stay away from credit cards (bank loans) and invest in yourself and 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 good.
D. Don’t go on brand names: just wear those things in which you feel comfortable.
E. Don’t waste your money on unnecessary things; just spend on them who really in need rather.
F.  After all it’s your life then why give chance to others to rule our life.”

The happiest people do not necessarilly have the 'BEST' THINGS. They simply appreciate the things they have - Warren Buffet

Warren Edward Buffett (born August 30, 1930) is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett",he is the primary shareholder, chairman and CEO of Berkshire Hathaway - Wikipedia
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Aagii said...

I used to live in Omaha Nebraska and as a man who has shook hands with him it was a very humbling experience. Everyone should learn from his way of living life.
To the author:

He lives in Omaha not OHAMA!

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