Warren Buffett, Former World's Richest Man, Says Success Isn't About Money, It's 'People That You Want To Have Love You Actually Do Love You'

Billionaire investor Warren Buffett shared his views on success, business advice and life decisions during an interview with Yahoo Finance.

“I’ve said many times that if you get to be 65 or 70 and later, and the people that you want to have love you actually do love you, you’re a success,” he said.

Happiness often correlates more strongly with relationships than with wealth, Buffett said.

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Buffett highlighted the importance of surrounding yourself with exemplary people, saying, “You want to associate with people that are better than you are. I mean, basically, you’ll go in the direction of the people that you associate with.”

Buffett, a man who held the title of world’s richest man for much of the late 1990s and early 2000s, lives a humble and modest life despite his wealth. He bought his house in Omaha, Nebraska, in 1958 for $31,500 and has lived in it ever since. Despite being worth tens of billions of dollars and growing Berkshire Hathaway Inc. to an $800 billion giant, he still regularly eats fast food and drives older, used cars. 

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Buffett’s approach extends to his diet and routine. He prefers simple, enjoyable foods he liked as a child over health trends, commenting on his dietary choices with a hypothetical scenario where he refuses one more year of life if his diet consists of disliked vegetables.

Buffett advocates for substantial self-investment, particularly in communication skills, which he believes can boost an individual's worth by 50%. He humorously noted, “It’s like winking at a girl in the dark — nothing happens,” to stress the importance of effective communication. If you can't get your ideas across, no matter how good the ideas are, then you're not going to be successful. 

In the interview, Buffett emphasized his long-standing investing ideas and strategies. Dubbed the Oracle of Omaha, Buffett is considered one of the greatest investors in modern history, and his strategies have been proven over decades. Buffett emphasized long-term investment strategies over frequent trading, comparing prudent investing to taking care of a car that must last a lifetime. 

“All you have to do is just buy across a cross-section of America and hold,” he said.

Buffett has the same strategy for most of his acquisitions and investments. Find profitable, cash-producing companies that have done well over the long term, then invest in them as they continue to do well over the next decade. This has led to massive investments in Apple Inc., American Express and a host of other recognizable names. 

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