Warren Buffett is widely regarded as one of the greatest investors of all time, with decades of successful investing making him a global business icon and one of the wealthiest individuals in the world.
But when asked what contributed most to his success, Buffett offered an unexpected answer. Rather than crediting intelligence, discipline or experience, the Berkshire Hathaway chairman said luck has played the biggest role.
Speaking in a recent interview with CNBC, Buffett described himself as one of the luckiest people alive.
Out of the world's eight billion people, he said he considers himself among the 10 luckiest.
With an estimated net worth of around $147 billion, Buffett believes that simply living a long life has been one of the key reasons behind his extraordinary wealth.
As he approaches his 96th birthday next month, the veteran investor joked that time has been one of his greatest advantages.
Buffett humorously remarked that he was "losing marbles" with age, adding that the length of his investing career—which gave him decades to build his fortune—was itself a matter of luck.
His comments reflect a long-held belief that success is often shaped by circumstances beyond an individual's control.
THE ROLE OF HIS FATHER
Buffett said one of the most significant influences on his life was his father, Howard Homan Buffett, who worked as a stockbroker and introduced him to the world of investing at an early age.
That early exposure proved transformative, laying the foundation for a career that would eventually make him one of history's most successful investors.
At the age of 11, Buffett bought his first stock, purchasing three shares of Cities Service for $38 each, marking the beginning of his investment journey.
THE 'OVARIAN LOTTERY' THEORY
Buffett has long advocated what he calls the "ovarian lottery"—the idea that the circumstances of a person's birth can have a profound impact on their future.
He first introduced the concept during Berkshire Hathaway's 1997 annual shareholders' meeting, arguing that factors such as family background, country of birth and early-life opportunities often influence success as much as, or even more than, talent and hard work.
Buffett reiterated this view in his 2024 letter to Berkshire Hathaway shareholders, acknowledging that being born in the United States and benefiting from the opportunities available to him as a white male gave him significant advantages.
He wrote that those circumstances gave him confidence from an early age that he would one day become wealthy.
In essence, Buffett believes that while hard work, discipline and good decision-making are essential, the opportunities people receive early in life—and the luck of being born in the right place at the right time—can have a decisive influence on their success.
