"Humble and simple" — When Shark Tank investor Robert Herjavec talked about one of the lessons he learned from Charles Munger

When discussing the lessons he learned from billionaire investor Charles Munger, Shark Tank investor Robert Herjavec emphasized the importance of humility and simplicity.

In his YouTube video posted on December 8, 2024, Herjavec highlighted Munger’s approach to wealth, stating,

"Humble and simple, don’t judge a book by a traditional cover. Wealth does not always express itself in the way you think."

Robert Herjavec described Munger as someone who did not focus on material displays of wealth but instead valued substance over appearance.

This principle, he explained, challenges common assumptions about financial success and underscores a different perspective on wealth accumulation and personal conduct.

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Shark Tank Robert Herjavec on the lesson of humility and simplicity from Charles Munger

The Shark Tank investor explained that Charles Munger maintained a modest lifestyle despite his financial success. He noted that,

"His house was simple, nice but simple."

Munger did not prioritize luxury in his living space but chose practicality. The Shark Tank investor further described his experience visiting Munger’s home, stating:

"The decorations were simple. He wore a suit and tie. I suspect he wore that every day."

This, he explained, reflected Munger’s belief in presenting himself with respect rather than displaying wealth for status. Additionally, Herjavec described Munger’s approach to staff and daily routines. He stated,

"He had only one person at this point. Charlie was in a wheelchair, made me lunch."

Despite his financial resources, Munger maintained a small team and took part in simple, everyday activities. Herjavec emphasized that Munger did not seek to impress others with material possessions but instead focused on intellectual pursuits and meaningful conversations.

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The difference between outward displays of wealth and true wealth

Herjavec highlighted how Munger’s approach contrasted with other wealthy individuals. The Shark Tank investor observed,

"Never assume that the one with the flashiest toys is the richest one. In fact, in my experience, quiet wealth is usually the most powerful and the biggest wealth."

He explained that while some billionaires invest in luxury assets such as yachts and sports teams, others, like Munger, choose a different path. Herjavec elaborated on this by stating:

"If you need to tell people how rich you are, in general, you're probably not that rich."

He explained that true wealth does not always seek attention and that financial success does not require external validation. According to Herjavec, Munger exemplified this mindset by focusing on knowledge and investment strategies rather than material excess. He also pointed out that wealthy individuals have diverse lifestyles and financial philosophies. He stated,

"Some are incredibly showy. They have yachts, super fancy cars, own sports teams, dress incredibly well, and you know from far away they are billionaires instantly. And some are so simple and humble that you would not know they're wealthy until you meet them or someone tells you about them."

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Munger’s legacy and influence on financial thinking

Herjavec emphasized that Munger’s approach to wealth was not about the pursuit of a specific financial milestone but rather about understanding the principles behind success. He stated,

"The goal is not necessarily to get a billion, but the goal is to learn how others have done it and apply it to yourself."

The Shark Tank investor explained that Munger’s strategies and mindset provided valuable insights that extended beyond financial figures. Herjavec also described Munger’s role as a business thinker, stating,

"Simple in all things except his mind and business."

He emphasized that while Munger maintained a modest lifestyle, his intellectual contributions to investing and decision-making were significant. Herjavec explained that Munger’s partnership with Warren Buffett was central to his financial influence, stating,

"Where not for his partnership with Warren Buffett, no one would ever know his amazing wealth."

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