Advice From Billionaires & Tycoons
Warren Buffett and Charlie Munger share some billionaire wisdom Berkshire weekend
OMAHA — Berkshire Hathaway's annual meeting began, as only it could, with musings on romance from Warren Buffett.
“If you're choosing between two very old and two very rich guys,” Buffett deadpanned, “choose the one who is older.”
The audience roared. A video sketch had just played of a woman rejecting Buffett, 85, and running into the arms of his 92-year-old investing partner, Charlie Munger. Now, in riffing on it, Buffett had delivered the first great line of the weekend.
Here's some great advice on how to become a billionaire from those who already made it there.
I made $15 million in my mid-20s after I sold a tech startup. I talked to a lot of people about this question, and thought a lot about how to stay the same person I was before and after making money.
Here's my answer: being rich is better than not being rich, but it's not nearly as good as you imagine it is.
The answer why is a bit more complicated.
First, one of the only real things being rich gives you is that you don't have to worry about money as much anymore. There will still be some expenses that you cannot afford (and you will wish you could), but most expenses can be made without thinking about what it costs. This is definitely better, without a doubt.