Billionaire Warren Buffett gives advise on how to increase your net worth by 50%

Billionaire businessman and investor, Warren Buffett has a tip for people looking to grow their wealth. And in simple terms, it is for them to focus on learning how to write and speak clearly.

Buffett stated this in a posted by Michael Hood, the co-founder of the Toronto based start-up Voiceflow, which enables users to design, build and launch skills for Amazon’s smart speaker, Alexa, without needing to know how to code.

Michael Hood, who is just 22 years old, was Buffett’s escort for the day when he was heading to the Canadian Walk of Fame Inductee Gala. An event he described as “a once in a lifetime opportunity” as he himself is a young entrepreneur and part of the founders of a start-up incubator Next 36, by virtue of which he was selected to accompany the billionaire.

The advice was given when Hood asked Buffett, “You are talking to people that are 21, 22, just graduating school. What is one tip that you can give them?”

In the video posted on LinkedIn, the billionaire in his own words stated that “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.”

He likened the pursuit of financial growth to the pursuit of a love interest when he said “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, and the transmission is communication,”

This would not be the first time Buffet is making reference to communicating as a major skill for financial growth. In a video published by BBC in 2009, he said “I was terrified of public speaking when I was in high school and college. I couldn’t do it. I mean I would throw up and everything.”

He then stated that he had to take a public speaking course at Dale Carnegie, the workplace training and professional skills development organization founded by author Dale Carnegie.

“I actually have the diploma in the office. And I don’t have my diploma from college. I don’t have my diploma from graduate school, but I have got my Dale Carnegie diploma there because it changed my life,” he said.

The billionaire is currently worth more than $86 billion, according to Forbes and this would not be the first time he is giving tips on financial growth, as he often gives tips especially aimed at young people.