Bill Gates and Warren Buffett have a lot in common.
The two men—who have been friends for three decades—both have run hugely successful companies that ended up making them a fortune, and both have pledged to give most of their money away within their respective lifetimes.
Gates, whose $115 billion fortune makes him the fourth richest person in the world, credits Buffett for teaching him one of the most valuable lessons he’s ever learned.
The Microsoft co-founder recently sat down with British Prime Minister Rishi Sunak to answer questions generated by A.I. chatbot ChatGPT.
The bot asked both men to share “the most important piece of advice” they’d ever received—and how it had impacted their lives and careers.
“I’ve had great advice,” Gates responded. “Warren Buffett talked about [how] in the end it’s how friends really think of you and how strong those friendships are [that matters]. That was great advice.”
He went on to discuss how, at the beginning of his career, he had an “overly intense” mindset that may have held him back.
“I didn’t believe in weekends, I didn’t believe in vacation, it meant that there were a lot of people who probably could’ve helped me that just didn’t fit in because I had this very narrow view of working style,” he said.
“For the small early Microsoft group, that was okay, but then as we got bigger I had to realize… you’ve got to think about this. I was very intense on myself and I tried to apply that to other people.”
Gates has previously spoken publicly about the lessons he’s learned with 92-year-old Buffett, who is the largest shareholder in Berkshire Hathaway and one of the most successful investors of all time.
The pair became friends after meeting in the summer of 1991.
In a 2016 blog post, Gates said that “everyone should have a friend as thoughtful and kind as Warren Buffett,” adding that he is “constantly learning things from him.”
“At my office I have just two numbers on speed dial: my home and Warren,” he wrote at the time. “If Warren has time for a call, it’s the highlight of my week. When faced with a challenge, we often ask ourselves, ‘What would Warren do?’ It usually leads us to the best answer.”
In the same blog post, Gates also referenced Buffett’s focus on the importance of maintaining relationships.
“Even though he keeps up a hectic schedule, Warren finds time to nurture friendships like few other people I know,” he said.
“He picks up the phone and calls to say hello. He regularly sends articles he’s read in the mail that he thinks [ex-wife] Melinda or I will find interesting. I’ve learned many things from Warren over the last 25 years, but maybe the most important thing is what friendship is all about. It’s about being the kind of friend you wish you had yourself.”
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FAQs
I've learned many things from Warren over the last 25 years, but maybe the most important thing is what friendship is all about. It's about being the kind of friend you wish you had yourself.”
What did Bill Gates learn from Warren Buffett? ›
″[I] remember Warren showing me his calendar ... he [still] has days that there's nothing on it,” Gates said, adding that Buffett's sparser schedule taught him an important lesson. “You control your time ... It's not a proxy of your seriousness that you fill every minute in your schedule.”
Are Warren Buffett and Bill Gates still friends? ›
Both Bill and Melinda have a longstanding relationship with Buffett. Bill credits thought provoked by Buffett as key to his decision to retire at 50 from leading his $3 trillion tech behemoth in order to focus on his foundation.
Who is Bill Gates' best friend? ›
Bill Gates and Warren Buffett have been best friends for over 30 years. Initially, they weren't interested in meeting each other — but they hit it off right away.
Were Steve Jobs and Bill Gates friends? ›
Steve and Bill always had a love-hate relationship. They both partnered when Steve was looking for someone to create apps on Mac. Bill and his team saw some of the initial prototypes of Mac—which eventually inspired him to go ahead and build Windows.
What lessons has Bill Gates learned? ›
9 Money Lessons Bill Gates Learned From Warren Buffett That You Can Use, Too
- You Never Know What Value Someone Brings to You. ...
- It's Important To Ask the Right Questions. ...
- You Want To Be Around People Smarter Than You. ...
- Be Honest With Shareholders. ...
- Great Investors Ignore the Noise. ...
- Make Your Time Count.
Buffett worked with Christopher Webber on an animated series called "Secret Millionaires Club" with chief Andy Heyward of DiC Entertainment. The series features Buffett and Munger and teaches children healthy financial habits. Buffett was raised as a Presbyterian, but has since described himself as agnostic.
Why did Warren Buffett leave Bill Gates Foundation? ›
Warren Buffett resigned as a trustee at the Bill & Melinda Gates Foundation as the charity grapples with upheaval created by the divorce of its namesake founders, and the billionaire finds himself at the center of controversy over the ultra-wealthy and taxes.
Who will Warren Buffett leave his money to? ›
Famously frugal Warren Buffett has always been clear his billions won't go to family—it'll be invested in charitable foundations, a fitting end to a career of philanthropy. It's a process Buffett will have overseen more closely this year, following the death of his right-hand man and dear friend, Charlie Munger.
Who is replacing Warren Buffett? ›
OMAHA, Nebraska, May 6 (Reuters) - When Greg Abel succeeds Warren Buffett at the helm of Berkshire Hathaway (BRKa.
Microsoft's Bill Gates: The Microsoft founder is known for his love of reading a range of books and for travel. He is a collector of rare books and cars. He has bought a Leonardo da Vinci manuscript for $30.8 million and has a 20-car garage in Washington featuring luxury purchases such as a Porsche 911 supercar.
How much of Microsoft did Bill Gates own? ›
Gates' ownership in Microsoft dropped from 45% during the company's IPO in 1986 to only 1.34%, representing 102.99 million shares as per the last ownership disclosure in October 2019. Since stepping down in 2020, he has stopped publicly reporting his ownership of Microsoft.
What is Bill Gates' IQ? ›
Bill Gates's IQ is 157 ± 6, according to our mathematical analysis based on SAT score averages. With a correlation coefficient of 0.8 between SAT scores and IQ, this approach provides a trustworthy approximation.
What was Steve Jobs' IQ? ›
"Steve Jobs likely had an IQ roughly 160 or above. Near the end of 4th grade Jobs was tested. Jobs said: 'I scored at the high school sophom*ore level. ' This means he was a 4th grader performing at the 10th grade level.
What did Bill Gates say when Steve Jobs died? ›
I'm truly saddened to learn of Steve Jobs' death. Melinda and I extend our sincere condolences to his family and friends, and to everyone Steve has touched through his work. Steve and I first met nearly 30 years ago, and have been colleagues, competitors and friends over the course of more than half our lives.
What inspires Bill Gates? ›
Obsessively dedicated to computing and software since his student days, Bill Gates became galvanized by the advent of an early personal computer, the Altair, which appeared in 1975.
How much money did Warren Buffett donate to Bill Gates? ›
With these latest payments, he has given the Gates Foundation nearly $39.3 billion, the Susan Thompson Buffett Foundation almost $4.2 billion, and more than $2.4 billion apiece to the Sherwood, Howard G.
How did Bill Gates acquire his wealth? ›
Bill Gates diversified his fortune from software firm Microsoft into dozens of holdings, including waste disposal firm Republic Services and tractor maker Deere & Co. Gates, a computer enthusiast from a young age, dropped out of Harvard to cofound Microsoft with Paul Allen (d.
What are Warren Buffett's 5 rules of investing? ›
A: Five rules drawn from Warren Buffett's wisdom for potentially building wealth include investing for the long term, staying informed, maintaining a competitive advantage, focusing on quality, and managing risk.
