Who hasn’t heard of Warren Buffet? American business magnate, investor and philanthropist. A man considered by many to be one of the most successful investors in the world and as of March 2017, the second wealthiest person in the United States with a total net worth of 78.7 billion dollars. Considering that signing multi-million dollar deals are common place for him, how does Buffet manage to balance family time with the exigencies of running a high profile business…read on.
Buffet has been the chairman and largest shareholder of Berkshire Hathaway since 1970, and his business exploits have had him referred to as the Oracle of Omaha by global media outlets.
Buffet has been considered by many, not just budding entrepreneurs, as a guru. His words of wisdom, as many successful individuals will tell you, have been keys to success in both business and in life. Take for example this gem of a story that came to light in the recent insider trading trial of former Goldman Sachs board member Rajat Gupta.
Former Goldman banker Byron Trott, a long time Buffet confidant, was asked to testify in front of a Manhattan federal court jury about a deal between Goldman Sachs and Warren Buffet during the financial crises era of 2008.
This deal was at the height of the 2008 financial crises and was a make or break deal for the world famous and historic Goldman Sachs Group. Nearing bankruptcy, the deal would lead to Buffet making an investment to the tune of 5 billion dollars into the company and would be the key to survival for the company.
Now, considering the stakes and the importance of this deal, you would expect anyone to drop whatever they are doing and work towards making sure that the deal went without hiccups. But Warren Buffet is no ordinary man.
As Trott went on to narrate, on the day that the deal was meant to be finalized, everything had been readied and all parties involved were only waiting for Buffet to join them for the meeting. They had been trying to reach him since the morning to wrap up the deal. However, Buffet was not available till 2:30 in the afternoon. The reason? He was taking his kids out for ice cream.
Yes, Buffet had kept a multi-billion, historic deal on hold so that he could keep a promise made to his grandkids and was enjoying ice cream with them at dairy-queen. Another life lesson on how to manage the perfect harmony between life and work by the Oracle of Omaha.