Warren Buffett's Life Advice May Be More Valuable Than His Portfolio

Legendary investor Warren Buffett announced recently that he was donating more than US$1 billion (S$1.3 billion) in Berkshire Hathaway shares to four family foundations — a continuation of his commitment to give away the vast majority of his wealth to charity rather than pass it on to his family members.

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With the announcement, Mr. Buffett put out a memo that was less about the nuts and bolts of the donation than the importance of getting your affairs in order at the end of your life. Close readers of the man know that this is his modus operandi. Below the surface, his musings are often steeped in advice about leadership and management.

But at 94, Mr. Buffett is clearly thinking about his mortality and acknowledges that "Father Time always wins".

His appointed successor, billionaire Greg Abel, 62, will replace Mr. Buffett as Berkshire's chief executive at the end of 2025. The incoming head of the legendary investment company holds about US$175 million worth of stock, or about 18 per cent of his US$1 billion net worth.

More than ever, Mr. Buffett seems determined to pass on not just lessons about what makes a good investment, but also what makes a good life. Here are some of his key lessons for company leaders, parents, and investors alike.

DON'T CREATE DYNASTIES