Modest life of the richest Warren Buffet

by Sohail Choudhury
August 24, 2011

http://www.weeklyblitz.net/1686/modest-life-of-the-richest-warren-buffet

Warren Buffet, the world's second richest man has donated US$ 31 billion to charity so far, while he possibly is one of the only few richest men in the world now, who has extra-ordinary life style and human qualities. People in the world, surely need to learn from the extra-ordinary life of Warren Buffet.

Mr. Buffet bought first share at the age of 11 and he now regrets that he started "too late". He bought a farm at the age of 14 with savings from delivering newspapers.

Despite the fact of being world's second richest man, Mr. Buffet still lives in the same small 3-bed roomed house in mid-town Omaha, that he purchased after he got married 50 years back. He says that everything he needs is in that house, and that house even does not have a wall or fence. "Don't buy more than what you really need and encourage your children to do and think the same way" he said.

Warren drives his own car and does not have a chauffer or security guards around him. He never travels by private jet, although he owns worlds largest private jet company. He says, "Always think how you can accomplish things economically."

His company, Berkshire Hathaway, owns 63 companies. Mr. Buffet writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never calls meetings or calls them on regular basis. His policy is: "Assign the right people to the right jobs".

He simply gives two rules to the CEOs of his company. Rule # 1: Do not lose any of your share holder's money; and Rule # 2: Do not forget the rule number one. He says: "Set goals and make sure people focus on them."

Mr. Warren does not socialize with the high society crowd. He spends his leisure time, while back to home, by making some popcorn and watching the television. He says: "Don't show off, just be yourself and do what you enjoy doing,"

He does not carry a cell phone nor has a computer on his desk.

Bill Gates, the world's richest man met Warren Buffet for the first time, five years back. Mr. Gates did not think he had anything in common with Mr. Warren. So the meeting was scheduled for just half-an-hour. But, when Bill Gates met Warren Buffet, the meeting lasted for ten hours and Mr. Gates became a devotee of Mr. Warren.

Warren Buffet's advices to young people are:

1. Stay away from credit cards and bank loans and invest in yourself and remember, money does not create man, but it is man who created money;
2. Always live the life as simple as you are and do not do what others say – just listen to them, but do what you feel good;
3. Do not go on brand names; just wear those things in which you feel comfortable;
4. Don't just waste your money on unnecessary things; just spend on them, who really in need rather.

He says: "The happiest people DO NOT necessarily have the BEST things. They simply APPRECIATE the things they have."

Isn't it the most admirable life? The world really needs more rich people like Warren Buffet. May G-d grant him long life!

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