5 Life Lessons We Can Learn From Warren Buffett

Patience, Mentorship, Charity, Strength and Democracy taught to us by Buffett

warren-buffett-biography

We have all heard dozens of times about this billionaire’s biggest accomplishments. We read every day in the newspapers about the accomplishments he has made in the finance world. But, there’s much more to the man than that.We wanted to bring some light into some of the little lesser known facts of his life, the ones that although most people don’t know about, are what made him the brilliant man he is today.
1 – A lesson about patience his early stages of life

At the age of 11, while living in Omaha he bought his first shares of Cities Service Preferred at $38 per share. The stock quickly dropped to $27, but convinced and determined that the stock would eventually go back up he held on to them until they reached $40. He immediately sold his shares settling with his small profit. He would later regret his decision as the stock skyrocketed to a price of $200. Later in life he would refer to this moment as his first big lesson about patience.

 

2 – A lesson about Mentorship

Influenced by the book “The Intelligent Investor” Buffett went to Columbia Business School to study under his author Benjamin Graham.  After earning his master’s degree, he sold securities at Buffett-Falk & Company for three years then worked for his mentor for two years as an analyst at Graham-Newman Corp. An experience he remembers fondly and makes responsible of all the traits he knows.

 

3 – A lesson about Charity

In June 2006, Buffett made an announcement that he would be giving his entire fortune away to charity, committing 85 percent of it to the Bill and Melinda Gates Foundation. This donation became the largest act of charitable giving in United States history. In 2010, Buffett and Gates announced they had formed The Giving Pledge campaign to recruit more wealthy individuals for philanthropic causes.

 

4 – A lesson about Strength

In 2012, Buffett disclosed that he had been diagnosed with prostate cancer. He began undergoing radiation treatment in July, and successfully completed his treatment in November.  The health scare did little to slow the octogenarian, who annually ranks near the top of the Forbes world billionaires list.

 

5 – A lesson about Democracy

In 2016, Buffett launched Drive2Vote, a website aimed at encouraging people in his Nebraska community to exercise their right to vote – and to assist in registering and driving voters to a polling location if they needed a ride.

 

Bonus – A lesson about Modesty

In 1957 he purchased a five-bedroom stucco house in Omaha, where he still lives, for $31,500. If you wanted to move right across the street from him you can do so for just $2.15 million dollars

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