Inspiring advice Warren Buffett, Mark Cuban and Bill Gates got from their dads

Nearly 60 percent off fathers in the U.S. say that being a dad is an extremely important part of their identity, Pew Research Center finds.

As people across America celebrate Father’s Day this Sunday, here’s a look at the best advice Warren Buffett, Bill Gates, Mark Cuban and other highly successful people have received from their fathers.

Warren Buffett: Maintain a good reputation

Legendary investor Warren Buffett credits his success largely to his late father, Howard H. Buffett . “The best gift I was ever given was to have the father I had when I was born,” Buffett says.

He adds that his father was his No. 1 teacher in life. “The best advice I’ve ever been given is by my father, who told me it took 20 years to build a reputation and 20 minutes to lose it,” Buffett says . “And if you remember that, you’ll do things differently.”

Bill Gates: Do things you aren’t good at

Microsoft co-founder Bill Gates says his father, William Gates Sr., 92, is the man he aspires to be. “I especially admire his sense of integrity. He is one of the wisest and most calm people I know. And he taught me a lot about how to think,” he writes on Gates Notes.

When Gates was a kid, his parents encouraged him to do things he wasn’t good at. “At the time I thought it was kind of pointless, but it ended up really exposing me to leadership opportunities and showing me that I wasn’t good at a lot of things, instead of sticking to things that I was comfortable with,” Gates tells Fortune.

Kevin O’Leary: Big goals require hard work

ABC “Shark Tank” investor Kevin O’Leary might not have become a millionaire if his dad hadn’t offered him a key piece of business advice. “I wanted to become a photographer when I was young,” he tells CNBC Make It . “My dad told me, ‘It’s a very competitive space’ and that ‘maybe you should go learn how to run a business first.'”

His father posed the question: What are you willing to do in order to be what you want to be?

“I simply wasn’t willing to take the risk of all the tasks and jobs required to support my dream of becoming a full-time photographer,” O’Leary tells Business Insider.

Mark Cuban: Enjoy your youth

Billionaire co-host of the ABC show “Shark Tank” Mark Cuban says that his father, Norton Cuban, taught him one of his greatest life lessons.

“My dad says it over and over, ‘Today’s the youngest you’re ever going to be. You’ve got to live like it. You’ve got to live young every day.’ And that’s what I try to do,” Cuban says.

Sara Blakely: You need to fail sometimes

When Spanx’s founder and billionaire Sara Blakely was growing up, her father often asked her the same question at dinnertime: “What have you failed at this week?”

“My dad, growing up, encouraged me and my brother to fail,” Blakely told CNBC’s ” Squawk Box .” “The gift he was giving me is that failure is [when you are] not trying versus the outcome. It has really allowed me to be much freer in trying things and spreading my wings in life.”

Bill Belichick: Follow your passion
New England Patriots head coach Bill Belichick reminds his children of the advice he got when he was a kid. “I’ve told them the same thing my dad told me, which is, Follow your heart,” Belichick tells CNBC contributor Suzy Welch .

“If there’s something that you love and that’s your passion when you’re young, do it. Let everything else take care of itself,” he adds.

Jeff Bezos: Be resourceful

Jeff Bezos, the world’s richest man , has been mostly private about his upbringing by his mother and his father, Miguel Bezos, but he has recognized the role his grandfather played in his life.

“He was super important for me, and I spent an unusual amount of time with my grandparents, and especially with my grandfather on the ranch,” Bezos recalls. “One of the things that’s so interesting about that lifestyle and about my grandfather is he did everything himself.”

The top lesson he learned from his grandfather was about “being resourceful.” His motto, as Bezos recalls: “If there’s a problem, there’s a solution.”

Source:- UK Yahoo Finance

(July 13): Mukesh Ambani overtook Alibaba Group founder Jack Ma to become Asia’s richest person,

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