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Legendary investor Warren Buffett says there’s an easy way to increase your worth by at least 50% — and it doesn’t have anything to do with picking stocks.
What To Know: Buffett, chairman and CEO of Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B), once said that improving communication is a simple way to boost one's worth.
"The one easy way to become worth 50% more than you are now, at least, is to hone your communication skills — both written and verbal," the billionaire investor said in a LinkedIn video, first reported by CNBC.
"If you can’t communicate, it’s like winking at a girl in the dark — nothing happens. You can have all the brainpower in the world, but you have to be able to transmit it," he added.
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Buffett had trouble with communication in his younger days, and if it weren't for a $100 college course, he probably wouldn't be where he is today.
The "Oracle of Omaha" had an extreme fear of public speaking in his teenage years. In his early college days, he would only sign up for classes where he knew he wouldn't have to present in front of the room.
He owes much of his own success to a public speaking course that he enrolled in shortly after graduating from Columbia's Business School.
Before taking the class, he "would literally throw up" when thinking about speaking in front of others. By the time he finished the 12-week course, he was much more comfortable with his communication skills.
"I just kept doing it, and now you can’t stop me from talking," Buffett said.
According to Forbes, Buffett is the fifth-richest person in the world, with an estimated net worth of $165 billion as of the time of writing. Berkshire Hathaway has historically outperformed the S&P 500 on an annual basis. Last year, Buffett's firm became the first non-tech company to reach a market capitalization of $1 trillion.
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Photo: Photo Agency/Shutterstock. Some elements of this story were previously reported by Benzinga and it has been updated.