Warren Buffett is well known as one of The Greatest Investors of All Time. But how much we really know about Warren Buffett? I will be covering 8 Fun Facts About Warren Buffett just for all of you to know him better.
Before we move to the Fun Fact about him, lets look at some of the highlight on his journey to become the Richest Man in the World.
Interestingly Warren Buffett years of building his wealth has helped him to achieve great wealth. How? With the Power of Compounding, it took him 19 years to be a Millionaire, 26 years to be a Billionaire & 22 years to be the Richest Man in the World. If you refer Black Belt Millionaire website sidebar, you will notice this quote :
In fact, Compound Interest have helped many people to be wealthy & this quote should be something you can hold it close to your heart as well.
Lets look at some of the Fun Fact About Warren Buffett
1. He is an avid Bridge Player
According to CNBC, Buffett spends almost 8 hours a week in the game of Bridge. Few of his notable Bridge playing partner include his long time business partner Charlie Munger & his long time friend Bill Gates.
2. He pledge to donate more than 50% of his wealth to Charity
His famous Charity Foundations is the one he started with Bill & Melinda Gates called The Giving Pledge. It is a campaign that encourage the rich to contribute majority of their wealth to philanthropic causes.
3. He stays in the same house since 1958
This may be a surprise to some of you. Usually when we think of Billionaire, we might be thinking of big house & big cars. As for Buffett, he bought his 5 bedroom home for $31,500 & he’s been living there ever since.
4. He eats McDonalds & drinks Cherry Coke everyday
What is the secret to Warren Buffett’s diet? You heard it right. Cheeseburger with Cherry Coke. In fact, he loved Coke so much that he owns 9.4% of the company shares.
5. His kids did not know he is Rich until they grow up
According to his daughter Susan, she did not know that her father is rich until she was 22 & she found out about her father’s wealth from Wall Street Journal article.
6. He bought majority of Berkshire Hathaway stocks so he can fire the CEO
Buffett bought Berkshire Hathaway stocks in 1962 & it was just a textile company. CEO of Berkshire Hathaway at that time promises to buy back the stocks at $11.50 but ended up offering 12.5 cent lesser. Furious with that offer, Buffett decided to buy even more of Berkshire shares & became the majority owner.
7. He spends 80% of his time reading books
In one of his interview, he was asked on what are the Key to Success? Buffett pointed to a stack of books & said “Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest.”
8. He earns $100,000 per annum & spends it frugally
According to Buffett, $100,000 salary is more than enough to make him happy & he’s been getting the same salary for decades. Of course he owns 36.8% shares of Berkshire Hathaway & that makes him one of the Richest Man in the World.
Based on the above facts about Warren Buffett, Im sure most of you have some takeaways on his spending habit & life. The Oracle of Omaha simple approach towards life & happiness can be as simple as working on what he love. In his 1998 speech, Buffett mentioned that “I get to work in a job I love, but I have always worked at a job that I loved. I loved it just as much when I thought it was a big deal to make money.”
Remember Grasshoppa, do what you love & you will definitely be on the right path to success.