Ideals of the Second Richest Man
December 27th 2006 03:44
I just wanted to share some interesting facts about Warren Buffet, one of the few people I totally admire and a great example of how to enjoy life frugally.
- He bought his first share at age 11 and he now 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 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.
- 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. Rule number 1: do not lose any of your share holder's money. Rule number 2: Do not forget rule number 1.
- 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.
- 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 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.
He is a truly rich man with a heart of a diamond and a great philanthropist. From what I’ve read, none of his kids or grandkids will inherit much and most of his assets will go to charitable institutions after his death. He’s even inspired Bill Gates to start sharing his fortune.
Each of these facts about Warren Buffett impressed the heck out of me but the one I think most speaks about living frugally is
- 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.
So what do you think? Do you think it's Impossible for an average person to live like Warren Buffett or did you learn something helpful that you could use?
Let me know in the comments section
- He bought his first share at age 11 and he now 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 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.
- 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. Rule number 1: do not lose any of your share holder's money. Rule number 2: Do not forget rule number 1.
- 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.
- 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 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
He is a truly rich man with a heart of a diamond and a great philanthropist. From what I’ve read, none of his kids or grandkids will inherit much and most of his assets will go to charitable institutions after his death. He’s even inspired Bill Gates to start sharing his fortune.
Each of these facts about Warren Buffett impressed the heck out of me but the one I think most speaks about living frugally is
- 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.
So what do you think? Do you think it's Impossible for an average person to live like Warren Buffett or did you learn something helpful that you could use?
Let me know in the comments section
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Comment by Swaralu
Comment by Manjula
Comment by AnthonyB
But yeah, I think cutting out what you don't need - like soft drink - just frees up funds for the future. I drink water instead of that crap.
Great post. I love it plenty !
- AnthonyB
Comment by Manjula
It's the small things that matter most - like you drinking water instead of soft drinks. Saves you money and your health
Comment by Susan Thompson 1
Fear in Life
Fear in life!
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He sounds like how I am striving to live - time will tell how I go. Well written Marijula.
Comment by katyzzz
Photography Tips
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An amazing story. I like it. Anything is possible in life.
katyzzz
Comment by Manjula
Katyzz - glad you like it