The Warren Buffet example

By Lanre Oyetade

I had always known that Warren Buffet, reputed until recently to be the second richest man in the world (then only after Bill Gates), made most of his stupendous wealth from the stock market, especially through speculation, but the picture I had of the billionaire was one of a shrewd, calculating investor.

However, I was to have a somewhat different picture of the man created in my mind when I received an email from a friend, depicting the man not only as a man with a Spartan lifestyle but also one with a heart of gold! And I thought it fit to share the mail with you. So here goes:

“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 shareholder’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 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.

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:
A. Money doesn’t create man but it is the man who created money.
B. Live your life as simple as you are.
C. Don’t do what others say, just listen to them, but do what you feel is good.
D. Don’t go on brand name; just wear those things in which you feel is comfortable.
E. Don’t waste your money on unnecessary things; just spend on what you really need.
F. After all it’s your life then why give chance to others to rule your life.”

In June 2006, Warren Buffet made a commitment to give away his fortune to charity, with 83 per cent of it going to the Bill and Melinda Gates Foundation. The donation amounts to approximately $30 billion (about N3.6 trillion). It’s the biggest single donation in history.’”

Now, this is a man that has obviously been able to master his money in the sense that not only was he able to make his money work and earn more money for him in his early years, making him a billionaire even in his twilight, but he so much understood the principle and concept of man being no more than a steward of the money he finds in his possession.

This is to the extent of giving so much to charity and allowing his money work for the benefit of mankind and to the ultimate purpose and glory of God.

Any doubt then that when such a man transits from this earthly plane, his name will be immortalised among men, and not just for having had so much physical possession but for understanding the basic purpose of life and what I fondly refer to as elements of the Truth Eternal.

In my view, we can all take a cue from Warren Buffet’s approach to life; from his ability to understand the principles of wealth creation, to make so much through an honest living and above all, to give so much away in order to make the world a better place to live in.

You and I may not have such billions to give away, but we can no doubt make our own contributions in our little corners of the world to put a smile on someone’s face.

Until next week, stay inspired in His presence.