Legendary investor Warren Buffett celebrated his 93rd birthday on Aug. 30. While many might imagine lavish celebrations and extravagant gifts for someone of his stature, Buffett has a unique perspective on birthdays and aging.
Despite accumulating wealth at an incredible rate, earning an estimated $3.5 million every day of his life when you divide his total net worth by the number of days he's been on Earth, he says he dreads birthdays and the thought of growing older.
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As chairman and CEO of Berkshire Hathaway Inc., Buffett has made countless astute investment decisions, transforming himself into one of the wealthiest people on the planet. His annual letters to shareholders are closely scrutinized, and his wisdom is sought after by investors worldwide. Yet, despite this financial success, Buffett remains down to earth and frugal in his personal life.
In her book "The Snowball: Warren Buffett and the Business of Life," author Alice Schroeder provides insight into Buffett's perspective on birthdays.
For Buffett, material possessions hold little appeal. Schroeder further notes that while Buffett appreciates heartfelt letters and reminders of his past accomplishments, he has already adorned an entire floor of hallways with memorabilia from his life.
Buffett sees each birthday as a reminder, much like the ticking of a metronome, signaling the passage of time. His desire to delay the inevitable is driven by the knowledge that he still has much to accomplish.
Schroeder explained that although Buffett knew the years weren’t "endless," with luck, he could live a long life. Every day presented the opportunity to meet new people, explore new investments and entertain new ideas. He believed there was plenty more to learn and discover, far beyond what he already knew.
Buffett's philosophy on life is often compared to a snowball rolling down a hill. Just as he has compounded his investment gains and wealth over time, he has also accumulated some of the best friendships along the way.
An excerpt from the book read, "You've got to be your own wet snow, in effect. You'd better be picking up snow as you go along because you're not going to be getting back up to the top of the hill again. That's the way life works." That's how Buffett views life — a continuous journey of growth and learning.
Despite his age, Buffett is active in the financial world. Over his 93 years, he has amassed a $120 billion fortune. Even after pledging to donate more than half of his Berkshire stock to charitable causes, he remains one of the wealthiest people globally.
Earlier this month, Berkshire Hathaway's stock reached an all-time high following the announcement of a nearly 7% increase in operating earnings, totaling $10 billion in the second quarter — a new record for the company. Berkshire's cash reserves also grew substantially, reaching nearly $150 billion, compared to $130.6 billion in the previous quarter, as the company reduced its stock holdings.
Buffett is also responsible for building one of the world's most valuable companies, acquiring iconic businesses like Geico and See's Candies, and holding multibillion-dollar stakes in major public companies such as Apple Inc. and The Coca-Cola Co. His influence has transformed the way many organizations are structured and operated.
Although Buffett isn't a fan of getting older, he once remarked, "I'd give up a year of my life to be able to eat what I want."
It appears that he hasn't had to make such a trade-off. The billionaire investor, known for his straightforward lifestyle, openly shares that he drinks five Cokes per day.
Buffett attributes his longevity to maintaining habits akin to a 6-year-old and counts himself fortunate for enjoying good health at his age.
"I think happiness makes an enormous amount of difference … in terms of longevity," Buffett said.
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