Warren Buffett’s Ultimate Life Advice: “If You’re Lucky, Spread the Luck” | Berkshire 2024

[Transcript]

BECKY QUICK: This question comes from Devon Spurgeon.

(Buffett chuckles)

“On March 4th, Charlie's will was filed with the County of Los Angeles. The first codicil contained an unusual provision. It reads, Averaged out, my long life has been a favored one, made better by duty imposed by family tradition requiring righteousness and service.

“Therefore, I follow an old practice that I wish was more common now, inserting an ethical bequest that gives priority not to property but to transmission of duty.

“If you were to make an ethical bequest to Berkshire shareholders, what duties would you impose and why?”

WARREN BUFFETT: I'd probably say read Charlie. (Laughs)

You know, I mean, he's expressed it well. And I would — well, I would say that if they're not financially well off, if you're being kind, you're doing something that most of the rich people don't do — (Laughs) — even when they give away money.

But that's not a question of whether you're rich or poor.

And I would say if you're lucky in life, make sure a bunch of other people are lucky, too. (Applause)

Okay. There's —

Just in case you [want to] know what my advice to myself would be — has been during this period.

(Buffett holds up sign that had been facing him that says, “SHUT UP!”)

(Laughter)

So we only got thirty, what, — three questions or whatever it is.

But thank you very, very much for coming.

And I not only hope that you come next year, but I hope I come next year. (Laughter and applause)

Thank you. (Applause)

Source: https://buffett.cnbc.com/2024-berkshire-hathaway-annual-meeting/

 

[YAPSS Takeaway]