maybe we've to learn to be frugal to become rich? from
littlespeck.com:
Warren Buffett
The exceptional wizard
The man who gave US$31B to charity is more frugal than most
Singaporeans.
Jan 17, 2007
Just received from a friend: -
Every one has heard of Warren Buffett who is reported to be the
world's greatest stock market investor and is worth US$36 billion,
lives in a house he bought for US$31,500, dines on burgers and
quotes Mae West.
CNBC had an hour-long interview with the second richest man who has
donated $31b to charity. Here are some very interesting aspects of
his life:
* 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 three-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 shareholders' money.
Rule number 2: Do not forget rule number 1.
* He does not socialise with the high society crowd. His past-time
after he gets home is to make himself some popcorn and watch
television.
* Bill Gates, the world's richest man met him for the first time
only five 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.
An amazing individual indeed.
Jan 17, 2007
