Blog Post 3: July 27, 2016

Warren Buffet

Well known in and out of the business world Warren Buffet is the CEO of Berkshire Hathaway.  Buffet is known for being a savvy investor but most people don’t know of his powerful leadership over the years.  Born on August 30, 1930 in Omaha Nebraska, Buffet is often called Oracle of Omaha.  At the age of 26 Buffet made his first million dollars, today his net worth is $63.3 Billion, putting him at the 3rd richest person in the world.

Aside from being a CEO and making millions Buffet is a substantial philanthropist donating to many charities.  As stated in conscious capitalist “There is no one-size-fits-all model of leadership”.  Buffet has many of the same qualities as the top leaders of the world but these are the qualities that set him apart.

The first quality of being a leader is a high IQ, but also along with high emotional intelligence, spiritual intelligence and system intelligence (Mackey, 184). Not only does Buffet have a high IQ but he also exhibits these other types of intelligence.  Buffet said “I wasn’t being challenged at Wharton, so I decided to learn from the best”,  (Referring to Benjamin Graham) (Lowenstein, 90).  Most people think that people on Wall Street are emotionless and married to their job, but Buffet relies on both intuition and empathy.  The most famous quote by buffet that symbolizes this is  “to be fearful when others are greedy and to be greedy when others are fearful.”

The second quality in Conscious Capitalism is Servant Leadership.  Many sources refer Buffet as a loyal person.  He seeks for a better community rather than himself and puts his employees well-being as a priority.  Some of Buffets favorite charities are:  The Bill and Melinda Gates Foundation, NoVo Foundation, The Howard G. Buffet Foundation, The Sherwood Foundation, and the Susan Thompson Buffet Foundation.  Also Buffets business practices constantly follow rules and regulations and had the best intentions for his investors rather than himself.  This is what ethically differentiated Buffet from other billionaires and CEOs.

Some other facts that I personally shocking are that Buffet pledges to donate 99% of his wealth to charities.  This means that only a fraction of his wealth will be passed to his kids and family.  His once said “I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing.”  Now Buffet works on “helping people grow and evolve” (Mackey, 190), especially young investors through his books, interviews, and lectures.

 

References:

Mackey, J., & Sisodia, R. (2013). Conscious capitalism: Liberating the heroic spirit of business. Boston, MA: Harvard Business Review Press.

http://www.insidephilanthropy.com/wall-street-donors/warren-buffett.html

Lowenstein, R. (1995). Buffett: The making of an American capitalist. New York: Random House.

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