The Friendship of Warren Buffett and Bill Gates

Warren Buffett and Bill Gates’ friendship began in 1991 when Mary Gates, Bill Gates’ mother, convinced him to spend the July 4 holiday at Hood Canal, where he met Warren Buffett.

Initially reluctant, Bill Gates described Buffett as a “stockbroker” he didn’t want to meet. However, the meeting proved pivotal as the two men hit it off immediately, forging a bond that has lasted decades.

Mutual Respect and Shared Interests:

Since their first meeting, Buffett and Gates have become very close friends. Bill Gates has described their relationship as an “unbelievable friendship,” while Warren Buffett has often remarked, “The moral of that is, listen to your mother.” Their friendship is built on mutual interests, including a love of bridge, business, problem-solving, and philanthropy.

In 2004, Bill Gates joined the board of directors of Warren Buffett’s Berkshire Hathaway. However, in March 2020, Gates decided to step down from the boards of both Berkshire and Microsoft to devote more time to his philanthropic efforts.

Contrasting Lifestyles and Wealth Management:

Despite their close friendship, Gates and Buffett display their wealth differently. Warren Buffett is known for his modest lifestyle. He owns only a single vacation property in Laguna Beach, California, in addition to his modest home in Omaha, and holds a 6.25% interest in a Falcon 2000 operated by NetJets. Reflecting on his wealth, he once said, “And that’s about it.”

In contrast, aspects of Bill Gates’ behavior, particularly concerning the operations of the Bill & Melinda Gates Foundation, have caused some friction. According to reports, Buffett has been bothered by what he perceives as the foundation’s bloated and inflated operating costs. This discontent led to Buffett’s decision that, upon his death, the remainder of his fortune—worth more than $100 billion—would not go to the Gates Foundation.

Philanthropic Endeavors:

Despite these differences, Gates and Buffett remain committed to philanthropy. They have collaborated on numerous initiatives and pledged significant portions of their fortunes to charitable causes.

Their friendship and professional relationship continue to be a testament to their shared values and dedication to positively impacting the world.