{"id":7661,"date":"2020-02-06T19:45:19","date_gmt":"2020-02-06T23:45:19","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=7661"},"modified":"2022-04-13T23:16:51","modified_gmt":"2022-04-14T03:16:51","slug":"reading-habits-of-successful-people","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/reading-habits-of-successful-people\/","title":{"rendered":"Reading Habits of the Wealthiest People in the World"},"content":{"rendered":"\n

The world\u2019s most successful people do one thing in common: they read. They consider books their most profitable investment.<\/strong><\/p>\n\n\n\n

<\/div>\n\n\n\n

From $2 to $500 billion<\/h3>\n\n\n\n

In a small grocery store in Omaha, Nebraska, two teenage boys worked to make a daily wage. Both were natural entrepreneurs. The older boy bred and sold hamsters on the side. The younger boy, grandson of the grocery store owner, ran paper routes and sold coke bottles for extra income.
<\/p>\n\n\n\n

Working in the store, each boy made $2 per day. A few decades down the line, they\u2019d be managing a company<\/a> worth over $500 billion and bringing in over $20 billion in profits per year.
<\/p>\n\n\n\n

Who were these boys?<\/strong> The famous Charlie Munger and Warren Buffett, leaders of the conglomerate Berkshire Hathaway.
<\/p>\n\n\n\n

How did these two Omaha kids become the most successful investors in history?<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/div>\n\n\n\n

Warren Buffett reads for 80% of his day<\/strong><\/h3>\n\n\n\n

In 2007, in a speech given to ambitious law students, Charlie Munger revealed their secrets to wisdom:
<\/p>\n\n\n\n

\u201cI constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines<\/strong>. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.
<\/p>\n\n\n\n

The key to learning<\/a>: both Munger and Warren Buffett read obsessively<\/strong>. They have a natural curiosity and a fear of missing critical information that will change their entire business.
<\/p>\n\n\n\n

Famously, when just starting out in investing, Buffett would read 600-1000 pages every single day<\/strong>. Today, he still spends 80% of his day reading.
<\/p>\n\n\n\n

\u201cRead 500 pages\u2026every day. That\u2019s how knowledge works<\/a>. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.\u201d
<\/p>\n\n\n\n

Their lessons for everyone: no matter where you are or what you do, keep learning<\/a> everyday, and you will succeed.
<\/p>\n\n\n\n

<\/div>\n\n\n\n

Billionaires read like crazy<\/strong><\/h3>\n\n\n\n

Buffett isn\u2019t the only one who got successful by reading. Many of the world\u2019s highest achievers attribute their success to reading.
<\/p>\n\n\n\n

Tech founder Elon Musk <\/strong>started his aerospace company SpaceX without any background or experience in rockets. So how did Musk learn to be a rocket scientist? He read every book on rocketry he could find<\/strong>. Said a SpaceX founding team member, \u201cHe borrowed all of my college texts on rocket propulsion\u201d and \u201cpractically memorized\u201d them. Now SpaceX is worth over $30 billion.
<\/p>\n\n\n\n

Bill Gates<\/strong>, the world\u2019s richest man, is a lifelong reader and reads 50 books per year<\/a><\/strong>. Here\u2019s what he gets from all this reading: \u201cEvery book teaches me something new or helps me see things differently. Reading is still the main way that I both learn new things and test my understanding.\u201d 
<\/p>\n\n\n\n

Entrepreneur and investor Mark Cuban<\/strong> built a billion-dollar business, owned owner of the Dallas Mavericks. How did he get started? \u201cI read every book and magazine I could.\u201d His advantage was that he actually put in the work: \u201cAnyone could buy the same books and magazines. The same information was available to anyone who wanted it. Turns out most people didn\u2019t want it. Most people won\u2019t put in the time to get a knowledge advantage.<\/strong>\u201d
<\/p>\n\n\n\n

So, what can you accomplish by reading more?<\/p>\n\n\n\n

<\/div>\n\n\n\n

<\/p>\n\n\n\n

Want to go to bed a little wiser than when you got up today?<\/strong>
<\/h3>\n\n\n\n

Despite the benefits of reading<\/a>, most people feel reading is a chore. Why read when you can watch your favorite TV show? Or spend time chatting with friends or browsing the Internet?<\/p>\n\n\n\n

What if you could get all the benefits of reading without it feeling like a chore? <\/strong>
<\/p>\n\n\n\n

You can! Shortform is a learning app<\/a> that distills the world\u2019s best nonfiction books into its key ideas.<\/strong> Each book takes 10% of the time to read, but gives you 90% of the information. <\/p>\n\n\n\n

This means you can learn rocket science at breakfast, financial investing at lunch, and the 7 Habits of Highly Effective People<\/a> after dinner. You can also learn on the go with Shortform audio narrations. This way, you\u2019ll be like Charlie Munger and Warren Buffett – a learning machine.<\/p>\n\n\n\n

<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The world\u2019s most successful people do one thing in common: they read. They consider books their most profitable investment. From $2 to $500 billion In a small grocery store in Omaha, Nebraska, two teenage boys worked to make a daily wage. Both were natural entrepreneurs. The older boy bred and sold hamsters on the side. The younger boy, grandson of the grocery store owner, ran paper routes and sold coke bottles for extra income. Working in the store, each boy made $2 per day. 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