Quotes and Wisdom from the World’s Richest

This is the first in a multi-part series on billionaire wisdom.  In this article I share quotes and wisdom from the worlds richest and most financially successful men and women. 

Warren Buffet

Net worth: $78 billion (August 2020).

Warren Buffet is best known for his leadership as the CEO of famed investment firm, Berkshire Hathaway. With a net worth of over $78 billion dollars, Buffet is considered one of the most successful investors of all time.

Words of Wisdom – Quotes and wisdom from the world’s richest.

• “Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.” If you feel like you are constantly coming up short, perpetually in debt and living paycheck to paycheck, maybe you are focusing your efforts in the wrong area.  Evaluate in which areas you are putting the most effort and do not be afraid to change.

• “It takes 20 years to build a reputation and five minutes to ruin it.  If you think about that, you’ll do things differently.” Be honest.  People need to know and trust your personal brand. 

• “Someone’s sitting in the shade today because someone planted a tree a long time ago.”  Everything worth doing and everything important takes a long time.  Start viewing your life and decision making through a long-term lens.

Mark Cuban

Net worth: $3.7 billion (2020)

Best known as the star of the hit television show Shark Tank and as the billionaire owner of the Dallas Mavericks.

Words of Wisdom – Quotes and wisdom from the world’s richest.

• “If you want to be successful at something, you’ll find that you put the time in. You won’t just ask somebody if it’s a good idea, you’ll go figure if it’s a good idea.” Do not rely on others to teach you or make you successful.  Get to work.  Go out and experience life.  Learn, remember and create.

• “What I’ve learned in these 11 years is you just got to stay focused and believe in yourself and trust your own ability and judgment”.  Remove fear and doubt by believing you can figure it out.  You do not need the most experience, all the answers and a ton of money.  Start with the will to keep going and believe you will be able to figure things out as you go.

• “The best way to predict the future is to invent it.”  Sometimes it is helpful to take a step back and change the way you think.  Not happy with your life or the path you are on?  Change it.  Create the future you want.

Oprah Winfrey

Net Worth: $2.7 Billion.

Best known as a television talk show host, actor, author and philanthropist.

Words of Wisdom – Quotes and wisdom from the world’s richest.

• “Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.” Gratitude is the key to a happy and fulfilling life.  If focus on the negative, you will find the negative.  If you believe you can achieve financial independence you will find the way.

• “Think like a queen. A queen is not afraid to fail. Failure is another steppingstone to greatness.”  Start valuing progress over perfection.  Understand that you will stumble along the way, learn from failures, and keep moving forward.

• “Where there is no struggle, there is no strength.” Use struggles to grow and improve.  Live is not meant to be easy.

Elon Musk

Net Worth: $24.6 Billion.

Best known as the founder and CEO of Tesla Inc. and SpaceX.

Words of Wisdom – Quotes and wisdom from the world’s richest.

• “I think it is possible for ordinary people to choose to be extraordinary.” The world is yours.  Decide what you want and start moving forward. Success and building wealth are nothing more than a few disciplined habits practiced over time.

• “When something is important enough, you do it even if the odds are not in your favor.” Be ruthlessly committed to achieving financial independence and you will find the way.  Use doubt and criticism as fuel to propel you forward.  Prove them all wrong! 

• “Some people don’t like change, but you need to embrace change if the alternative is disaster.”  The only thing certain in life are death and taxes.  Resist change and you will be left behind.  Ignore change and you become obsolete.  Seek change and you will find it.  Embrace change and you will get ahead.

Ray Dalio

Net Worth: $18 Billion.

Best known as the billionaire hedge fund manager of Bridgewater Associates, the world’s largest hedge fund.

Words of Wisdom – Quotes and wisdom from the world’s richest.

• “Without principles we would be forced to react to all the things life throws at us individually, as if we were experiencing each of them for the first time.” Think of personal finance principles as ideas or propositions that serve as a foundation for your financial goals, behaviors and decision making.  When faced with a difficult decision, principles create boundaries and keep you focused on desired outcomes. If your goal is to become a millionaire, you will need principles to guide your actions both be become a millionaire and stay a millionaire.

• “If you can think for yourself while being open-minded in a clearheaded way to find out what is best for you to do, an if you can summon up the courage to do it, you will make the most of your life.”  Thinking for yourself and staying open minded is the hardest thing most will ever do.  Do not fall victim to the herd mentality and always believe you have more to learn.

• “Time is like a river that carries us forward into encounters with reality that require us to make decisions.  We can’t stop our movement down this river, and we can’t avoid those encounters.  We can only approach them in the best possible way.”  Life is full of difficult decisions and unknown outcomes.  We cannot avoid these decisions; we can only learn approach them in the best way possible.

Dale