Bill Gates Reveals Warren Buffett’s Secret to Success, And It’s Super Easy!

Business LoungeJuly 5, 2019

It is fairly uncommon for billionaires to be close friends with each other, but then again people like Bill Gates and Warren Buffett are one in a million as well. The two billionaires share a very strong bond and have often commented about the other’s style of working in front of the media. This time, it’s Bill Gates doing the talking, and he has revealed one factor that, in his view, has immensely contributed to Buffett’s success.

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There is a very strong friendship between Bill Gates and Warren Buffett, that’s for sure!

For those of you who don’t know, Warren Buffett is currently worth around $82 billion and is still working as the top man at his holding company called Berkshire Hathaway Inc. even though he is 88 years of age. His company is a parent to businesses such as Dairy Queen and Geico, among other successful ventures.

The Key

If you are expected Buffett’s secret to success to be something extraordinary, then you are mistaken because it is as ordinary as one can possibly imagine. Apparently, according to Gates, the trick lies in incorporating reading into your everyday routine. At least, that is what Buffett has done.

In Becoming Warren Buffett, which was a documentary made by HBO, Gates revealed that the billionaire is fond of turning hundreds of pages on a daily basis for around six hours, on average. Where it is books or simply the newspaper, Buffett skims through everything in hopes of finding a challenging investment or business problem which he could hypothetically solve.

From Buffett’s perspective, reading so much every day makes all the sense in the world because, as many would agree, remaining updated with current affairs as well as news pertaining to businesses allows any decision maker a competitive advantage over those who are outdated when it comes to the environmental factors impacting their business.

On any day, one may expect to see Buffett sitting in his office chair, reading something, probably the daily newspaper.

Anyone Can Do It

Although many people assume that Warren Buffett is a gifted businessman, and perhaps that is true to some extent, but Buffett believes that the playing field is equal for all because everyone has access to the same amount of information as him.

As per Buffett’s late wife Susan, the billionaire is a very competitive soul, and when he says and believes that everyone has the same opportunities to succeed as he does, he then makes sure that he wins by spending hours in his office, sifting through reading material to accumulate as much knowledge as possible.

Buffett is not the only billionaire who is an avid reader. Mark Cuban, who is known for being a successful tech entrepreneur, also discovered the importance of reading at the very start of his career and has maintained a reading habit to this day.

Mark Cuban is one of the most successful entrepreneurs of this era.

According to Cuban, the knowledge he attained from books and magazines allowed him to improve his interaction with customers of his business called MicroSolutions, and that was enough proof to convince Cuban that the key to long term success was knowledge.

Just like Buffett, Cuban also believes that anyone can outpace competition if they invest enough time in learning the material, and the only way to do that is by reading as much as possible.