Warren Buffett and Bill Gates say this 'one word' defines their billion-dollar success

Warren Buffett and Bill Gates, two of the most successful and influential business leaders of all time, have often been asked about the secret to their remarkable achievements. Despite their vastly different industries — Buffett in investment and Gates in technology — both credit their success to a single, powerful word: focus. This simple yet profound principle has defined their careers, guiding their decisions and helping them build empires worth billions.In a revealing moment during a gathering organised by Gates' father, both billionaires independently wrote down the same word when asked about the one trait most responsible for their success.Warren Buffett's early obsession with investmentsWarren Buffett's journey into the world of finance began remarkably early. At just 11 years old in 1942, he made his first stock purchase, investing $114.75 — his entire savings — in three shares of the oil and gas company Cities Service, now known as Citgo. This early move set the tone for a lifetime of disciplined investing. Buffett quickly developed a keen interest in financial markets, reading every investing book he could find and learning the fundamentals of financial analysis. His early focus on understanding businesses and identifying undervalued stocks would later define his investment philosophy at Berkshire Hathaway, where he served as CEO for decades.Bill Gates' early passion for softwareBill Gates also demonstrated intense focus from a young age, but his interest lay in software and computing. Gates began programming as a teenager, writing his first software program at the age of 13. This early exposure to computers, coupled with his unrelenting curiosity, set him on a path to co-found Microsoft, a company that would revolutionize the software industry. Gates famously described this period as one of deep obsession, dedicating thousands of hours to coding and software development. His ability to remain focused on this singular passion enabled him to build one of the world's most successful technology companies, making him a billionaire by his early 30s.Both Buffett and Gates emphasize the importance of starting early. Buffett has often likened investing to building a snowball, where small, consistent efforts over a long period can create massive growth. In his own words, "We started building this little snowball on top of a very long hill." Gates, similarly, has highlighted the value of early immersion, noting that the skills and knowledge acquired during formative years often shape the trajectory of one's career. This shared understanding of compounding knowledge and wealth is a key reason both men reached the top of their respective fields.Buffett's value investing approachBuffett's investment philosophy centers on value investing, a strategy that focuses on identifying undervalued companies with strong fundamentals. He famously stated, "If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes." This long-term perspective, combined with an unyielding focus on financial discipline, allowed Buffett to build Berkshire Hathaway into a multinational conglomerate valued at over $750 billion. His largest holding, Apple, now makes up roughly 28% of Berkshire's total portfolio, reflecting his commitment to high-quality, durable businesses.Gates' focus on software dominanceGates, on the other hand, focused on creating software that would become essential for businesses and consumers alike. His early decision to license the MS-DOS operating system to IBM — a move that effectively set the stage for Microsoft’s dominance in personal computing — demonstrated a strategic focus that would become a hallmark of his career. Gates' emphasis on controlling the software ecosystem, from operating systems to productivity tools like Microsoft Office, helped solidify the company’s market leadership for decades.Buffett's missed opportunitiesEven the most focused individuals make mistakes, and Buffett has openly discussed his "mistakes of omission" — instances where he failed to invest in promising companies despite recognizing their potential. For example, Buffett famously passed on early investments in companies like Amazon and Google, which later became tech giants. Reflecting on these missed opportunities, Buffett has emphasized the importance of learning from past errors while maintaining a long-term focus on value.Gates' strategic pivotsGates, too, has faced his share of challenges. As the tech industry evolved, Microsoft initially struggled to adapt to the rise of mobile computing and internet-based services. However, Gates' early focus on software and platform dominance provided a strong foundation for Microsoft to recover under the leadership of his successors, transforming the company into a cloud computing powerhouse through platforms like Azure.Both Buffett and Gates have been vocal about avoiding distractions and short-term trends. Buffett’s refusal to invest in businesses he does not fully understand, and Gates’ decision to step down from Microsoft’s day-to-day operations to focus on philanthropy, reflect their commitment to long-term goals. This disciplined approach has allowed them to avoid many of the pitfalls that have tripped up other business leaders over the years.