Tuesday, July 17, 2007

Words of wisdom

There was a one hour interview on CNBC with Warren Buffet, the second richest man who has donated $31 billion to charity Here are some very interesting aspects of his life:

1. He bought his first share at age 11 and he now regrets that he started too late!

2. He bought a small farm at age 14 with savings from delivering newspapers.

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.

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

5. He never travels by private jet, although he owns the world's largest private jet company.

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 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.

7. 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.

8. 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.

9. 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 money.
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 u 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 give chance to others to rule our life.

These are his words and I believe that the Arabs are the people that should be listening and absorbing them, since we always seem to live our lives for others to perceive.


Intlxpatr said...

Loved this entry. I saw them together on Public TV doing a joint interview; it was fascinating. Both have the unique philosophy of living below your means (gasp!) and giving a healthy proportion back to society, tithing as we call it, zakat in Islam.

Nomad said...

If only more people thought that way...

Chroma-Trauma said...

How Humble!! I wish your entry would be printed in national newspapers on the first page.. I loved what he said that money doesn't make you.. Lots of people should read this to learn that life is not money-orientaed, and you don't need a Gucci/LV bag to be worth talking to. Invest your money wisely and don't spend all of on unnecessary things.

Zed said...

intlxpatr: thanks, its sad knowing that alot of principles came from our culture, and non are being implemented (zakat)

nomad: if....

chroma-trauma: specially us in the arab world, we are too obsessed with money and showing off

Joud said...

yes zed i agree, arabs do feel the need to show off - fancy clothes, flashy bmw's :P

Dynamic Deeds said...

The last setence was very well said!!

=D I never heard of this man but as Chroma-trauma said "how humble". I was thinking that as I was reading the post!

It is just a shame to see and admit what our part of the world is good at, WHICH is basically show off as other commenters had pointed out!

Cool post;)