Bill Gates says Warren Buffett gave the best advice he's ever received—it's 'maybe the most important thing' he's learned (2024)

Even artificial intelligence wants to learn from Bill Gates.

When the Microsoft co-founder sat down for an interview with U.K. Prime Minister Rishi Sunak last month, the two answered questions generated by a ChatGPT-like AI chatbot.

The bot asked Gates about the best advice he's ever received and how it has influenced his own life. In response, the 67-year-old pulled out some words from his longtime friend and fellow billionaire Warren Buffett on the subject of friendship.

"Warren Buffett talked about [how], in the end, it's how friends really think of you and how strong those friendships are [that matters]," Gates said.

Gates and Buffett have been friends for more than three decades. Their shared interests go beyond their wealth: The pair co-founded The Giving Pledge, which encourages the world's wealthiest people to donate at least half of their wealth to charitable causes, and are occasional bridge and golf partners.

Gates has previously discussed the lessons he's learned from the 92-year-old Buffett, from investing to time management.He's consistently put Buffett's advice on friendship at the top of that list.

"I've learned many things from Warren over the last 25 years, but maybe the most important thing is what friendship is all about," Gates wrote in a 2016 blog post.

"Even though he keeps up a hectic schedule, Warren still finds time to nurture friendships like few other people I know," Gates added. "He picks up the phone and calls to say hello. He regularly sends articles he's read that he thinks ... I will find interesting."

Buffett often speaks about the importance of choosing good friends, and being a good friend yourself. That means surrounding yourself "with people that are better than yourself," so you can learn from and be inspired by them, he said at a 2017 talk with Gates at Columbia University. "You will move in the direction of the people that you associate with."

Gates agreed: "Some friends do bring out the best in you, and so it's good to invest in those friendships."

Strong and meaningful friendships can be quite important to your career success, including providing a boost to your self-esteem and mental resilience, research shows. Maintaining good friendships over the course of your life also makes you happier and less stressed, improving your health and well-being, according to the Mayo Clinic.

Gates and Buffett have a combined net worth of $220 billion, Bloomberg estimates, but they seem to agree that the happiness derived from lasting friendships is a true mark of success.

"When you get to my age, you'll really measure your success in life by how many of the people you want to have love you actually do love you," Buffett said in a 2001 speech at the University of Georgia.

"I know people who have a lot of money, and they get testimonial dinners and hospital wings named after them," he continued. "But the truth is that nobody in the world loves them. If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is — your life is a disaster. That's the ultimate test of how you have lived your life."

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Bill Gates says Warren Buffett gave the best advice he's ever received—it's 'maybe the most important thing' he's learned (1)

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Bill Gates says Warren Buffett gave the best advice he's ever received—it's 'maybe the most important thing' he's learned (2024)

FAQs

Bill Gates says Warren Buffett gave the best advice he's ever received—it's 'maybe the most important thing' he's learned? ›

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 was Warren Buffett's famous quote? ›

"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."

Are Warren Buffett and Bill Gates still friends? ›

Whether discussing global health initiatives through the Bill & Melinda Gates Foundation, where Buffett is a trustee, or simply seeking advice on various matters, their interactions are rooted in deep-seated respect and genuine friendship.

What advice would Bill Gates give? ›

Gates advises aspiring entrepreneurs to take risks and not fear failure. He believes that failure is a valuable teacher and an essential part of the learning process. According to Gates, it is important to embrace failure, analyse the lessons it offers, and use that knowledge to improve and achieve success.

Who is Bill Gates's best friend? ›

Bill Gates and Warren Buffett have been best friends for over 30 years.

What is Warren Buffett's golden rule? ›

Buffett's headline rule is “don't lose money” and his second rule is “don't forget rule one”. This might sound obvious. Of course, it is. But it's important to look at the message within.

Did Bill Gates and Steve Jobs get along? ›

A history of the decades-long feud between Steve Jobs and Bill Gates, whose love-hate relationship spurred the success of Microsoft and Apple. Microsoft's Bill Gates and Apple's Steve Jobs never quite saw eye-to-eye.

Does Warren Buffett hold McDonald's? ›

It's important to clarify that McDonald's stock is not directly in Buffett's Berkshire Hathaway portfolio. Rather, its position is held in New England Asset Management (NEAM), a subsidiary of Berkshire Hathaway.

Who did Warren Buffett leave his money to? ›

He teamed up with Bill and Melinda Gates in 2010 to form The Giving Pledge, an initiative that asks the world's wealthiest people to dedicate the majority of their wealth to philanthropy. Buffett himself has pledged that 99% of his wealth will go to philanthropy during his lifetime or upon his death.

Is Bill Gates a generous person? ›

Thousands of news stories have profiled Bill Gates's generosity over the last two decades. Essentially every day, headlines remind us of his private foundation's largesse: a million dollars here, a billion dollars there.

What are Bill Gates' rules for life? ›

11 Rules of Life (and Management?) by Bill Gates

Rule 1: Life is not fair - get used to it. Rule 3: You will NOT make 70 thousand dollars a year right out of. You won't be a vice-president with a car phone, until you earn both. Rule 4: If you think your teacher is tough, wait till you get a boss.

What is Bill Gates giving away? ›

The foundation recently announced it would spend $8.6 billion in 2024, its largest budget to date, aided by a $20 billion donation by Gates in 2022. The record-setting budget coincides with the erosion of progress nonprofits made toward ending poverty, fighting treatable diseases and eradicating hunger.

How much of Microsoft does Bill Gates own? ›

Key Takeaways. Institutional investors are the majority owners of Microsoft, accounting for almost 70% of outstanding shares. Former CEO Steve Ballmer owns a 4% stake in Microsoft, more than its founder Bill Gates, who holds a 1.3% stake. Vanguard and Blackrock are the two largest Microsoft's institutional investors.

Who is Bill Gates childhood friend? ›

1955—

Bill Gates is a technologist, business leader, and philanthropist. He grew up in Seattle, Washington, with an amazing and supportive family who encouraged his interest in computers at an early age. He dropped out of college to start Microsoft with his childhood friend Paul Allen.

How old was Bill Gates when he became a billionaire? ›

When Bill Gates became a billionaire in 1987 at 31, he was the youngest person to ever join the three comma club. In 2008, Mark Zuckerberg took that title when he reached billionaire status at 23.

What is the most famous quote ever said? ›

However, some quotes that are often considered to be among the greatest of all time include:
  • "I have a dream" - Martin Luther King Jr.
  • "The only way to do great work is to love what you do" - Steve Jobs.
  • "The greatest glory in living lies not in never falling, but in rising every time we fall" - Nelson Mandela.

What is the slogan of Berkshire Hathaway? ›

This Berkshire Hathaway Home Services logo incorporates many of the stylistic components of the parent logo, yet it adds a little more creativity to the brand with its rounded letters and use of initials. With this logo's release came a new marketing campaign tagline that was also introduced, “Good to Know.”

What does Warren Buffett say about saving? ›

Do not save what is left after spending, but spend what is left after saving.”

What is Warren Buffett most famous for? ›

Warren Edward Buffett (/ˈbʌfɪt/ BUF-it; born August 30, 1930) is an American businessman, investor, and philanthropist who currently serves as the co-founder, chairman and CEO of Berkshire Hathaway. As a result of his investment success, Buffett is one of the best-known investors in the world.

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