dailyloe.com – Warren Buffett has challenged the idea that vast wealth signifies business excellence. The billionaire investor made these remarks in his final Berkshire Hathaway shareholder letter last November. He stated greatness does not come from money, publicity, or government power.
Buffett is the world’s 13th richest person with a $143 billion fortune. Despite this, he has maintained a famously thrifty lifestyle throughout his career. He is known for eating at McDonald’s and living in a modest Nebraska home.
“Greatness does not come about through accumulating great amounts of money,” Buffett wrote. He finds true value in non-material pursuits instead of lavish spending. His philosophy centers on kindness and respect for all people.
“When you help someone in any of thousands of ways, you help the world,” Buffett continued. He described kindness as both costless and priceless. He advocates treating everyone with equal respect, from a cleaning lady to a chairman.
Buffett’s golden rule guides his behavior towards others. He treats powerful business leaders the same as junior workers. He is unwilling to spend on fancy meals to impress anyone.
The investor is known for ordering cheap meals at McDonald’s. His typical order includes items like two sausage patties with egg and cheese. Each meal costs less than four dollars.
He once took Bill Gates to McDonald’s for lunch in Hong Kong. Gates recalled Buffett offering to pay using coupons from his pocket. For Buffett, every penny counts in his spending philosophy.
The same frugal approach applies to his major life purchases. He still lives in the house he bought for $31,500. His bank account has not changed his modest personal habits.[]
Source: Fortune
