Warren Buffett's Top Advice For Young People

 Capping a remarkable 60-year run, Warren Buffett stepped down as Chairman and CEO of Berkshire Hathaway last week. Under his leadership, from 1965 to 2024, the company's stock rose 5,502,284%.

(The S&P 500 has risen 39,054% over the same period.)

A slide from my recent TEDx talk.

His top piece of advice for young people looking to grow their wealth?

It had nothing to do with money or investing - he had to focus on who you spend your time with and what you choose to do together.

When asked what advice he'd give to young investors, he said,

"If you want to be successful, it's enormously important to surround yourself with smart people."

He also suggests, choosing a job or path you genuinely enjoy, and the people around you enjoy as well.

"Who you associate with is just enormously important. You are going to have your life progress in the general direction of the people that you work with, that you admire, that become your friends." 

Overall, Buffett underscored the value of learning and curiosity, a message he's shared many times before.

"The best investment you can make is in yourself."

And there, is a classic Buffett move, at the end of a five-hour Q & A session, he surprised many shareholders, and his successor, by announcing that he will be stepping down as Chairman and CEO at the end of this year.

Casually retiring.

His advice to young people comes full circle.

He surrounds himself with trustworthy people.

He invests in relationships with people with integrity, long-term vision and strong, solid temperaments (not just intelligence).

He stays true to his values – calm leadership, humility and responsibility.

A real-world case study in leadership, wealth building and character.