How Warren Buffett made people richer without giving money, stock tips; 3 instances

By: | Published: March 15, 2018 1:24 PM

With a whopping net worth of $84 billion, legendary investor Warren Buffett is often referred to as one of the most charitable billionaires. We take a look at instances where he made people richer without giving money or stock advice.

Warren Buffett gave away billion in charity, more than half of his total net worth.According to an analysis by Chronicle of Philanthropy in September-17, Warren Buffett had given away a staggering billion to charity since 2000. (Image: AP)

With a whopping net worth of $84 billion, legendary investor Warren Buffett is often referred to as one of the most charitable billionaires. Notably, according to an analysis by Chronicle of Philanthropy in September-17, Warren Buffett had given away a staggering $46 billion to charity since 2000. While this is commendable, there have been instances where the ‘Oracle of Omaha’ made people richer without giving them any money or even stock tips. We take a look at three such instances.

Warren Buffett advises Kathy Xiaosi Gong

In a recent interview with CNBC, China’s youngest-ever national chess champion Kathy Xiaosi Gong revealed her “Warren Buffett” moment. Gong had requested Warren Buffett to have dinner with her eight years ago. Interestingly, Gong was part of White House Mentorship and Leadership Program and grabbed the opportunity when she found herself in a room with the billionaire investor in Washington D.C. Even though Warren Buffett rejected the offer, he gave her three pieces of advice. Firstly, Buffet advised Gong to question herself every night if she was smarter or learnt something new that day. The second advice was to always answer the phone. “In life there will be so many things you want to run away from, but you should always confront them head on,” Buffet told Gong. Lastly, Warren Buffett told her to “Be humble, no matter how high you rise.” Kathy Gong, who now features in MIT’s 35 Innovators of 2017 and also co-founded WafaGames in 2017 says that in times of self-doubt, she reminds herself of the “Warren Buffett” moment.

Raamdeo Agrawal doubles his portfolio

Calling Warren Buffett his “guru,” Raamdeo Agrawal, MD and Co-founder of Motilal Oswal Financial Services swears by the legendary icon’s investment philosophies. In an interview to ET Now last year, Raamdeo Agrawal said that Warren Buffett’s philosophy regarding diversification helped him to double his portfolio wealth in just one year’s time. Sharing details about how the windfall gain happened, Raamdeo Agrawal said that for first 14 years as an investor, he held more than 200 stocks in his portfolio. A regular attendee at Berkshire Hathaway annual meeting, Raamdeo Agrawal said that after reading Buffett’s philosophy he changed his portfolio to only 15 stocks.  “I cleaned up the portfolio and I had only 15 stocks that very year my portfolio doubled,” Raamdeo Agrawal told the channel.

 Saurabh Mukherjea beats Mr Market

Saurabh Mukherjea says that he tries to emulate Warren Buffett’s philosophies in Ambit Capital, and it has shown remarkable results. Sharing his insights with ET Now recently Mukherjea says he tries to follow Buffett strategy of “Buying a bunch of high quality companies and sit on it forever.”  However, Saurabh Mukherjea explains that they cannot really ask people to sit on certain stocks forever, and so they have condensed the period to 10-years. Mukherjea says that year after year the portfolio delivers market beating results — “In absolute terms that give returns north of 20%,” Saurabh Mukherjea told the channel.

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