Warren Buffett, being the second richest man in the world, could buy pretty much anything he wants. And, strangely enough, most of his wants are pretty much in line with your average working-class American. He eats at McDonald’s and Dairy Queen regularly, he drinks a lot of Cherry Coke, and many of his clothes come from China.
Recently, Buffett, who nearly always looks snappy in a two piece suit, told CNBC that his suits are not bespoke, but rather come from a tailor in China who caught his attention when he was there on a business trip. The tailor, Madam Li, is excellent at what she does and Buffett even had her make suits for several Berkshire shareholders including Bill Gates.
The suits, Buffett said, were given to him when he visited China several years ago. A pair of tailors approached him at his hotel in Dalian, and took his measurements, then soon sent him the garments, which fit beautifully.
“They started sticking tape measures around me and everything and then they showed me a book with… a whole bunch of samples and said, ‘Pick out a suit. Madam Li wants to give it to you,'” Buffett said.
Buffett told CNBC that many of his suits were free, and that he gets more compliments on his clothing than ever. Madam Li continued to send him suits (he said he has around 20) and he liked them so much, he threw out his old suits and now only wears the clothes from Dalian Dayang Trands. The company itself has been working on expanding to the United States and offers customers tailored suits in a variety of styles and colors.
The owner of Dalian Dayan Trands, Madam Li, has been praised by Buffett as a genius entrepreneur many times. According to Buffett, she started her entire empire with only one sewing machine and now employs thousands of workers and makes suits for businessmen around the world.
“It’s a remarkable achievement,” Buffett said in a video praising Madam Li on her company’s 30th anniversary. “It’s a story that should inspire people in China and inspire people around the world. I have told that story to many people here in the United States and they marvel at what Dalian Trends has achieved over just these 30 years.”