fbpx
We Love Animals

A Valuable Lesson For 51-Year-Old Billionaire From 91-Year-Old Billionaire’s Paradoxical View

The advice of the legendary investor Warren Buffett has completely changed the mind of self-made billionaire Thomas Tull in business.

Source: Reddit

Thomas Tull, 51, best known as the founder and former CEO of Legendary Entertainment, co-producer of Hollywood blockbusters series, namely “300”, “Clash of the Titans”, “Inception”, “Jurassic World” and “The Dark Knight” Trilogy.

Tull sold the company in 2016 for $3.5 billion. Additionally, he is also the founder of Tulco LLC – a company specializing in investing in Artificial Intelligence. Currently, he owns a fortune of $2.9 billion.

However, few know that this billionaire started up with a chain of laundromats and auto shops in his hometown of Endwell, New York, prior to his current success.

The mindset being completely changed

Source: CNBC

Recently, in a CNBC interview, Thomas Tull recalled his meeting with Warren Buffett 2 years ago. He recalled he was lucky to meet Buffett for a couple of hours. Tull told Buffett about his job at Tulco and that he had always tried to find smarter business methods.

Tull said, “He (Buffett) interrupted me and said that he and Charlie Munger (his longtime associate) had the opposite opinion. Buffett said ‘We always ask ourselves: ‘What stupid thing could I do’”

At that time, Tull said he just kind of smiled. Buffett continued: “I’m serious. We try to think of whatever silly thing that can deal damage to us.”

Tull had been thinking a lot about what Buffett said because so far he had been thinking on how to be faster, better and smarter – things he considered significant for innovation. Ultimately, Tull followed Buffett’s advice and started asking the same question.

A Difficult Childhood

Thomas Tull grew up in a small community in upstate New York. He has two younger sisters. His mother was a single mom and his family lived in poverty. Tull’s mother had to work two jobs to make ends meet. During his teenage years, Tull did a variety of jobs to help support my family, from shoveling snow, mowing the lawn to running errands.

“Growing up, I had many different groups of friends. I studied relatively well and liked science. I also played guitar because I loved music. Eagerness on new knowledge is what helps me connect with people,” Tull shares.

Becoming an Entrepreneur

Source: Forbes

Thomas Tull detested the idea of working for others since he was a kid. He wanted to control his own destiny and experiment his business ideas. He has never been the kind of person that would sit still and complain or dream.

Tull claimed, “I know actions speak louder than words,”

Back to the 90s, Thomas Tull’s first business was an auto shop. Interestingly, up to now, he still hasn’t known how to change his car oil.

He said that due to economic difficulties, his neighborhood chose to repair things instead of buying new.

After the auto shop, Tull opened a chain of coin-operated laundromats, impressing people.

“That’s how I started my business in my 20s”, says Thomas Tull.

Getting rich

Born in poverty, Tull had no experience in money spending, especially large sums. For him, one of the greatest things about being rich is freedom.

“If you grew up poor as I did, and suddenly you have enough, not to say more, to do whatever you want to on your own instead of being constrained into one occupations, you will feel much free and powerful,” says Tull.

H/T: cnbc.com

Related posts

Humorous Man Livens Up His Everyday Life With The Existence Of Disney Characters Part 2

Margot Nolan

20+ Moments Pisces Show How Adorable They Are

Margot Nolan

10 Freaky Facts About Life In The White House

Larry

Uncover The Hidden Things Behind Aquarius’ Lies

Margot Nolan

This Cute Giant 3D Cat In Tokyo Is Melting The Hearts Of Cat Lovers Worldwide

Olivia

Find Out How Aries Deal With Bad Things That Happen In Their Life

Margot Nolan

This Lucky Spoiled Cat Has A Fancy Hand-Crafted Bedroom Of His Own

Olivia

Disney Princesses And Pokemon: Perfect Duos

Margot Nolan

Billionaire Mark Cuban: “When You Find Something You’re Good At, Go For It… And That’s When You Really Make Money.”

Larry

16 Amazing Memes That You’ll Surely Want To Send Your Pisces Friend

Margot Nolan

If Disney Princesses Used Instagram, Here Are What They Would Totally Post

Margot Nolan

Was Akhenaten An Extraterrestrial Ruler Of Ancient Egypt?

Larry

15 Impressive Reactions Of Pisces When Someone Flirts With Them

Margot Nolan

Hero Husky Finds A Box Full Of Near-Dying Kittens In The Woods, Becomes Their New Mom

Carolyn Mullet

Uncover Funny Reasons That Drive A Scorpio Up The Wall

Margot Nolan

25-Year-Old Made $16 Million Annually From Others’ Backyard

Larry

15 Times Aries Show Everyone What They Mean Without Words

Margot Nolan

Heartwarming Photos Of Husband Building A Special Bike So He Can Continue Cycling With His Wife With Alzheimer’s

Carolyn Mullet

NASA Computers Hacker Reveals A Currently Ongoing Battle With Aliens In Space

Larry

Sisters Separated From Each Other Since Birth Reunite After Seven Decades

Susanna

21 People Who Aren’t Afraid To Rock Their Glorious Natural Hairstyles

Leona

This Man Devoted His Life To Grizzly Bears — Until They Ate Him

Larry

Funny Moments Of The Animals That Illustrate Exactly Gemini’s Characteristics

Margot Nolan

“Your Kid Is Naked In Your Window:” Neighbor Sends Mom A Pic Of Her 2-Year-Old Boy, And Their Exchange Is Hilarious

Carolyn Mullet

Meet Luang Pho Daeng, The World’s Chillest Mummy

Larry

13 Hilarious Reasons That A Libra Hates You

Margot Nolan

20 Interesting Facts About Libra Zodiac Sign That Will Amaze You

Carolyn Mullet

Police Officers Return To Patrol Car And Find An Abandoned Dog Waiting Inside For Help

Carolyn Mullet

Can’t Stop Laughing At 15 Hilarious Times Of Sagittarius And Their Friends

Margot Nolan

Deciphering The Mystery Of The Auroras On Jupiter After More Than 40 Years

Larry

13 Egyptian Coffins Dating Back More Than 2,500 Years Were Discovered

Larry

Asia’s Next Top Model In Disney Version, Who Will Win?

Margot Nolan

Father Donates One Kidney To His Little Daughter To Save Her From Polycistic Kidney Disease (PKD)

Margot Nolan

Cancerians Never Say “I Hate You”, They Show It By Their Gestures

Margot Nolan

Couple Spends $55,000 Turning Their House Into A Haven For 20 Elderly And Special Needs Dogs

Carolyn Mullet

California Communities Rally To Save Animals Caught In Wildfires

Carolyn Mullet

Man Tearfully Reunites With His Lost 20-Year-Old Blind And Deaf Cat

Carolyn Mullet

Reveal The Biggest Fears Of A Virgo With 15 Funny Memes

Margot Nolan

2 year-old boy, whose life was nearing its end, being his parents’ best man

Jonathan

Six Remarkable Dinosaur Findings That Changed History

Larry

Hearing Dad’s Voice Since In The Womb, Newborn Baby Girl Smiles At Her Dad Immediately After Coming To This World

Margot Nolan

A Rock From Space Inscribed With Mysterious Hieroglyphics – Is It A Message From Mars?

Larry