Warren Buffett Once Said That The 'Best Thing' He Did Was Choose 'The Right Heroes' — Who Was Berkshire Hathaway Chair's Biggest Role Model?

Warren Buffett, the Oracle of Omaha, is known worldwide not only for his investment acumen but also for the wisdom he imparts to the business world. Among his many pieces of advice, one stands out: choosing the right heroes. 

What Happened: In Roger Lowenstein's book, Buffett: The Making of An American Capitalist, Buffett spoke about the significance of his role models. 

"The best thing I did was to choose the right heroes," he stated, adding, "It comes from Graham."

Benjamin Graham, Buffett's mentor at Columbia University, often referred to as the father of value investing, had a huge impact on Berkshire Hathaway's chair. 

Graham's teachings were not just about making money but about living a principled and disciplined life. Buffett absorbed these lessons and carried them forward, shaping the ethos of Berkshire Hathaway.

Buffett's father, Howard Buffett, also played a crucial role. Howard Buffett was a U.S. Congressman and a businessman. Although Howard passed away in 1964, Buffett still keeps a portrait of his father in his Omaha office.

"I still wonder how he would feel about anything I do," Buffett once told Gillian Zoe Segal, author of the book Getting There.

See Also: Advice From Warren Buffett That ‘Everyone Needs To Hear’: ‘Write Your Obituary’

Why It's Important: At the 2024 Berkshire Hathaway annual meeting, Buffett further spoke about this idea. 

"You want to have the right heroes, and you don’t have to have them based on what they’ve accomplished. It’s the people that you want to be yourself," he stated. 

"If you copy the right people, you’re off to a great start, and I don’t mean a great start about making money; I mean a great start about living your life."

The Oracle of Omaha currently has a net worth of $139 billion, making him the tenth richest person in the world, according to the Bloomberg Billionaire Index.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.