Richest Birthday Quotes

More than 2,000 books are dedicated to how Warren Buffett built his fortune. Many of them are wonderful. But few pay enough attention to the simplest fact: Buffett’s fortune isn’t due to just being a good investor, but being a good investor since he was literally a child. As I write this Warren Buffett’s net worth is $84.5 billion. Of that, $84.2 billion was accumulated after his 50th birthday. $81.5 billion came after he qualified for Social Security, in his mid-60s. Warren Buffett is a phenomenal investor. But you miss a key point if you attach all of his success to investing acumen. The real key to his success is that he’s been a phenomenal investor for three quarters of a century. Had he started investing in his 30s and retired in his 60s, few people would have ever heard of him. Consider a little thought experiment. Buffett began serious investing when he was 10 years old. By the time he was 30 he had a net worth of $1 million, or $9.3 million adjusted for inflation.16 What if he was a more normal person, spending his teens and 20s exploring the world and finding his passion, and by age 30 his net worth was, say, $25,000? And let’s say he still went on to earn the extraordinary annual investment returns he’s been able to generate (22% annually), but quit investing and retired at age 60 to play golf and spend time with his grandkids. What would a rough estimate of his net worth be today? Not $84.5 billion. $11.9 million. 99.9% less than his actual net worth. Effectively all of Warren Buffett’s financial success can be tied to the financial base he built in his pubescent years and the longevity he maintained in his geriatric years. His skill is investing, but his secret is time. That’s how compounding works. Think of this another way. Buffett is the richest investor of all time. But he’s not actually the greatest—at least not when measured by average annual returns.

To protect them from Hitler’s bombers, the curators secreted Wallace’s and Darwin’s bird skins in unmarked lorries to manors and mansions throughout the English countryside. Among the safe houses was a private museum in the tiny town of Tring, built by one of the richest men in history as a twenty-first-birthday present for his son. Lionel Walter Rothschild would grow up to earn many distinctions: the Right Honorable Lord, Baron de Rothschild, member of Parliament, adulterer, blackmail victim, and one of the most tragically obsessive bird collectors ever to roam the earth.

Since the Enlightenment unfolded in the late 18th century, life expectancy across the world has risen from 30 to 71, and in the more fortunate countries to 81.1 When the Enlightenment began, a third of the children born in the richest parts of the world died before their fifth birthday; today, that fate befalls 6 percent of the children in the poorest parts. Their mothers, too, were freed from tragedy: one percent in the richest countries did not live to see their newborns, a rate triple that of the poorest countries today, which continues to fall. In those poor countries, lethal infectious diseases are in steady decline, some of them afflicting just a few dozen people a year, soon to follow smallpox into extinction. The poor may not always be with us. The world is about a hundred times wealthier today than it was two centuries ago, and the prosperity is becoming more evenly distributed across the world’s countries and people. The proportion of humanity living in extreme poverty has fallen from almost 90 percent to less than 10 percent, and within the lifetimes of most of the readers of this book it could approach zero. Catastrophic famine, never far away in most of human history, has vanished from most of the world, and undernourishment and stunting are in steady decline. A century ago, richer countries devoted one percent of their wealth to supporting children, the poor, and the aged; today they spend almost a quarter of it. Most of their poor today are fed, clothed, and sheltered, and have luxuries like smartphones

The most poignant lesson, which proved to be the last, was held a few days before the wedding. Diana’s thoughts were on the profound changes ahead. Miss Snipp noted: “Lady Diana rather tired--too many late nights. I delivered silver salt-cellars--present from West Heath school--very beautiful and much admired. Lady Diana counting how many days of freedom are left to her. Rather sad. Masses of people outside of Palace. We hope to resume lessons in October. Lady Diana said: “In 12 days time I shall no longer be me.’” Even as she spoke those words Diana must have known that she had left behind her bachelor persona as soon as she had entered the Palace portals. In the weeks following the engagement she had grown in confidence and self-assurance, her sense of humour frequently bubbling to the surface. Lucinda Craig Harvey saw her former cleaning lady on several occasions during her engagement, once at the 30th birthday party of her brother-in-law, Neil McCorquodale. “She had a distance to her and everyone was in awe of her,” she recalls. It was a quality also noticed by James Gilbey. “She has always been seen as a typical Sloane Ranger. That’s not true. She was always removed, always had a determination about her and was very matter-of-fact, almost dogmatic. That quality has now developed into a tremendous presence.” While she was in awe of Prince Charles, deferring to his every decision, she didn’t appear to be overcome by her surroundings. Inwardly she may have been nervous, outwardly she appeared calm, relaxed and ready to have fun. At Prince Andrew’s 21st birthday party which was held at Windsor Castle she was at her ease among friends. When her future brother-in-law asked where he could find the Duchess of Westminster, the wife of Britain’s richest aristocrat, she joked: “Oh Andrew, do stop name dropping.” Her ready repartee, cutting but not vicious, was reminiscent of her eldest sister Sarah when she was the queen bee of the Society circuit. “Don’t look so serious it’s not working,” joked Diana as she introduced Adam Russell to the Queen, Prince Charles and other members of the royal family in the receiving line at the ball held at Buckingham Palace two days before her wedding. Once again she seemed good humoured and relaxed in her grand surroundings. There wasn’t the slightest sign that a few hours earlier she had collapsed in paroxysms of tears and seriously considered calling the whole thing off.

The museum’s staff resiliently worked throughout the night to sweep away the damage, but it was clear that their specimens were imperiled. To protect them from Hitler’s bombers, the curators secreted Wallace’s and Darwin’s bird skins in unmarked lorries to manors and mansions throughout the English countryside. Among the safe houses was a private museum in the tiny town of Tring, built by one of the richest men in history as a twenty-first-birthday present for his son. Lionel Walter Rothschild would grow up to earn many distinctions: the Right Honorable Lord, Baron de Rothschild, member of Parliament, adulterer, blackmail victim, and one of the most tragically obsessive bird collectors ever to roam the earth.