Warren Buffett, billionaire investor, encourages young workers to seek out jobs of which they are passionate about. This is career advice that he offered to youngsters online this Tuesday when he spoke about a number of topics.
Every year, Mr. Buffett takes time out of his busy schedule and he meets with students from roughly 40 colleges. He does this to answer questions about business and life. This Tuesday he did so in an online forum, and he had the opportunity to offer his advice to a much wider audience.
Buffett often chooses to compare the things he does as CEO and chairman of Berkshire Hathaway to painting a canvas with a masterpiece. He also regularly tells us that it doesn’t feel like he works because he loves what he does.
“I love painting on my canvas, and you’re lucky in life if you can find your passion,” said Buffett.
The 82-year-old Oracle of Omaha was fortunate that he figured out what he wanted to do early on in his life when he read books that he found lying around at his dad’s securities brokerage. Now his daily routine consists of finding the best deals for Berkshire Hathaway by reading five or six hours a day, speaking with his friends and playing online bridge.
Buffett tells us that he does not often do things that he doesn’t enjoy, and he’s been able to hand off almost all of the day-to-day tasks of running his company that has 285,000 employees, and other people take care of this for him.
“I have delegated like nobody has ever delegated with a company of this size,” said Buffett.
Berkshire Hathaway actually owns more than 80 subsidiaries, and they include furniture stores, jewelry stores, clothing stores and railroads. They are also in the insurance and utility business, which makes up about more than half of the income that Berkshire Hathaway enjoys. Plus, the company has large investments in businesses such as Wells Fargo, IBM, American Express and Coca-Cola.
Berkshire’s Class A shares, which actually make up the majority of Warren Buffett’s fortune, are still currently the most expensive stock in the United States of America. At Tuesday’s closing, the stock finished the day at $164,690 per share.
Money is not the only way you should measure the success of Warren Buffett. Did you know that he continues to live in the home in Omaha that he bought in 1958? Buffett’s lifestyle could allow him to live on $100,000 a year very easily, with the exception of the private jet that he really enjoys.
Last weekend alone, Warren Buffett spent over five hours answering questions for more than 30,000 people at the annual shareholder meeting held by Berkshire Hathaway. He even entertains groups of shareholders at events and steak dinners during the weekend.
This Tuesday Buffett spent around an hour responding to questions sent to the Levo League website. They help young professionals find job opportunities and mentors early in their career.
“It’s really important in life to have the right heroes,” said Buffett.
Buffett also mentioned that being able to study at Columbia University under Benjamin Graham, and working for Graham’s investment firm for two years, helped solidify his understanding of Graham’s investment techniques that Buffett used to create his huge fortune. Buffett also mentions that his first wife and his father’s influence also played a major role in his success because they taught him about life.
Buffett encourages the younger generation to try and work for and associate with those that they admire.
“If you’re working for somebody that makes your stomach turn, maybe you have to keep doing it for a while to eat, but don’t settle for it,” said Buffett.