In a recent interview with CNBC, the legendary investor said luck has played a much bigger role in his life than most people realize.
“Out of eight billion people, I may be one of the 10 luckiest in the world,” Buffett said.
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Warren Buffett says luck shaped his life
Buffett believed many of the biggest milestones in his life happened because of factors beyond his control.While many see him as a financial genius, he says being born into the right environment gave him opportunities that millions of others never had. Talking about his long career, Buffett also credited his longevity for allowing his wealth to compound over decades.
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“I’m losing marbles at this point. I accumulated marbles for a longer time than I deserved. That’s just a matter of luck,” he remarked.
The billionaire has often explained that investing rewards patience, and living a long life has allowed him to benefit from the power of compounding for nearly nine decades.
“If my father had been a plumber…”
One of the biggest turning points in Buffett’s life came during childhood. His father, Howard Homan Buffett, worked as a stockbroker, giving young Warren early exposure to the world of investing.
That experience changed the course of his life.
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“Fortunately I got exposed, partly accidentally, to what I liked to do very early on, and that was just an accident,” Buffett told CNBC.
He added: “If my father had been a plumber, I would not have.”
Buffett bought his first stock when he was just 11 years old, purchasing three shares of Cities Service at $38 each. That small investment marked the beginning of a career that would eventually make him one of the richest people on Earth.
Warren Buffett’s ‘ovarian lottery’ theory
For years, Buffett has argued that where a person is born often has a greater impact on success than talent alone.
He famously described this idea as the “ovarian lottery.”
The phrase, first popularized during Berkshire Hathaway’s 1997 shareholder meeting, refers to the circumstances people are born into—such as their country, family, education and opportunities—which can dramatically influence their future.
Buffett revisited the idea in his 2024 letter to Berkshire Hathaway shareholders, acknowledging that being born in the United States and growing up with the advantages available to a white male significantly shaped his career.
“So favoured by my male status, very early on I had confidence that I would become rich,” he wrote.
His comments reflect a belief he has repeated throughout his career: success depends not only on effort but also on opportunity.
Still active after stepping down as CEO
Although Buffett stepped down as CEO of Berkshire Hathaway last year, he has not retired completely.
Leadership has now passed to Vice Chairman Greg Abel, but Buffett remains actively involved with the company he spent decades building.
Under his leadership, Berkshire Hathaway grew into one of the world’s largest and most valuable conglomerates, with investments spanning insurance, railroads, energy, consumer goods and technology.
Buffett became a millionaire at 32 before eventually joining the ranks of the world’s wealthiest individuals. According to the Bloomberg Billionaires Index, he currently ranks among the 10 richest people in the world.
Buffett is changing how he gives away his fortune
Buffett is known not only for investing but also for his philanthropy. In 2010, he joined The Giving Pledge, promising to donate 99% of his wealth to charitable causes.
However, this year marked a significant change in his charitable plans.
For the first time in nearly two decades, Buffett did not donate to the Bill & Melinda Gates Foundation, ending one of the largest philanthropic partnerships in modern history.
Since 2006, he had contributed more than $47 billion to the foundation established by Bill Gates and Melinda French Gates.
Instead, his latest Berkshire Hathaway share donation will benefit organizations connected to his family.
The Susan Thompson Buffett Foundation, named after his late wife, will receive 9 million Berkshire Hathaway Class B shares, while the Sherwood Foundation, Howard G. Buffett Foundation and the NoVo Foundation will each receive 1 million shares.
“My children are unfortunately growing older. I have every hope that the three of them are able to carry out the disposal of my shares by December 31, 2034,” Buffett said in a recent statement.
The announcement means Buffett expects the vast majority of his wealth to be distributed within the next eight years, marking the final chapter in one of the world’s most remarkable financial and philanthropic legacies.
Warren Buffett’s biggest lesson isn’t about money
Despite building an investing empire that few will ever match, Buffett says his greatest lesson has little to do with stock markets or billion-dollar deals.
Instead, he believes success is shaped by a combination of hard work, timing, opportunity and luck.
For a man worth more than $140 billion, it’s a surprisingly humble message—and one that continues to resonate with investors and entrepreneurs around the world.
