If there’s one person in the world who knows a thing or two about wealth creation, it’s Warren Buffett.
The self-made billionaire, who co-founded Berkshire Hathaway, has essentially been the most prolific champion of value investing throughout the 20th and 21st centuries.
But would you believe he credits all his success to something that has nothing to do with money?
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According to the Oracle of Omaha himself, it all comes down to a good marriage.
“You want to associate with people who are the kind of person you’d like to be. You’ll move in that direction,” he explained during a conversation with Bill Gates back in 2017 (via Fortune).
“And the most important person by far in that respect is your spouse. I can’t overemphasise how important that is.”
Elsewhere, Benjamin Graham’s #1 disciple has echoed this very sentiment on multiple occasions.
In the HBO documentary Becoming Warren Buffett, he noted the two major turning points in his life were when he was born and when he met his late wife Susan.
“What happened with me would not have happened without her.”
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During a 2009 Berkshire Hathaway annual meeting, he said: “Marry the right person. I’m serious about that. It will make more difference in your life. It will change your aspirations, all kinds of things.”
Warren Buffett married Susan in 1952 before raising their three children Susie, Howard, and Peter during their fruitful 52-year partnership together.
“If you’re going to get married, you want a marriage that’s going to last,” said Buffett, which is essentially just a romantic extension of his famed “buy and hold” strategy.
“What quality do you look for in a spouse? One quality. Do you look for brains? Do you look for humour? Do you look for character? Do you look for beauty?”
“No. Not necessarily the happiest marriage — or one that Martha Stewart will talk about. You want a marriage that is going to last.”
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Sadly, in 2004, Susan passed away due to a cerebral hemorrhage. But two years later, Mr Buffett would be wedded to longtime family friend Astrid Menks; seemingly with Susan’s blessing.
Many have observed how the trio were extremely close, even when Susan was alive, to the point where they sent out Christmas cards signed “Warren, Susie, and Astrid.”
Happy wives, happy life, I suppose.
