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Comments From The World’s Richest Person

This article was written by in Investing. 6 comments.


Bill Gates and Warren BuffettBill Gates almost regrets being the world’s richest person, with about $50 billion. According to a short interview, he doesn’t like the visibility.

The interesting part of the interview is that the founder of Microsoft admits he has learned everything from Warren Buffett, who is now, thanks to Gates, the world’s second richest individual. The pupil has surpassed the master. Is there still time to learn from the Oracle, or has he lost his touch? Perhaps his principles still hold up:

* Stick to businesses you thoroughly understand.
* Avoid risk by only investing in companies whose future cash flows are certain.
* Only buy shares in companies if you expect above average returns.
* Only buy if you can get shares for less than they are worth.
* Concentrate on value, not price.
* Ignore short term market sentiment.
* Do not churn your portfolio.
* If you make a mistake, learn from it.

Thanks to Wealth Junkie for pointing me to the interview.

Updated February 6, 2012 and originally published May 3, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View all articles by .

{ 3 comments… read them below or add one }

avatar Dave

Not to be picky, but he says he’s learned the most from Buffet, not everything, and I think the tone of the article suggests he’s learned about *being* rich, not *getting* rich from Buffet. He *got* to be the wealthiest person by being at the right place at the right time.

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avatar Luke Landes ♦127,505 (Platinum)

I agree. I see Buffett’s principles above are aligned to “maintaining rich” in addition to “getting rich.” I’m not saying these are the specific principles Gates adhered to at any point in his life.

If Gates finds Buffett worthy of being a mentor of some sort, then Buffett’s core principles are likely worth listening to, unless, as I mentioned, he lost his touch.

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avatar Toby

“…Warren Buffett, who is now, thanks to Gates, the world’s second richest individual…”

Maybe it’s because I haven’t had my morning caffeine, but why is it “thanks to Gates”? Did Bill do something recently that I missed? I thought Warren Buffett has been number 2 for a few years now. Or is the comment related to his donation to the Gates Foundation?

** Need caffeine make brain work… **

-Toby

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