- Dairy Queen CEO Troy Bader learned two lessons from his job interview with Warren Buffett: that passion triumphs intelligence when building a business, and there’s always something to learn from others. He’s one of many leaders—alongside billionaire philanthropist Melinda French Gates and Amex CEO Stephen Squeri—who have leaned on Buffett’s advice to succeed.
Many businesses are birthed from a bright idea—but that isn’t enough to take a company big-time. Dairy Queen CEO Troy Bader said Warren Buffett taught him zeal for the mission is more important than anything else; being “smartest person in the world” won’t outperform “somebody who has that passion.”
“Anybody you meet, I don’t care who they are—they know something you don’t,” Bader said in a recent interview with Business Insider.
It’s just one of the two takeaways that have stuck with Bader since his job interview with Buffett in 2017 to become CEO of the billion-dollar ice cream giant. And as the serial investor just announced he will step down from his Berkshire Hathaway throne after 60 years, his words of wisdom seem to carry even more weight. The Dairy Queen CEO was shown that even the most successful people still have things to learn, and passion triumphs wits in growing a business.
What Warren Buffett is like as an interviewer
Bader admitted it was daunting to come face-to-face with Buffett; especially after Berkshire Hathaway shelled out $600 million to take Dairy Queen company private in 1998. The hedge fund mogul has long had a soft spot for Dairy Queen, both in business and in life. So the sweet treat CEO felt the pressure to impress during their interview.
“It was the fall of 2017, I’ll never forget the day,” Bader told Business Insider. “I was very anxious going in because OK, I felt like I knew our business, but you’re sitting down with Warren Buffett.”
Buffett wasn’t the type to act “very arrogant” in the meetings as one might expect, Bader said. Instead, the Omaha Oracle spent the first 15 or 20 minutes asking the Dairy Queen executive about something relevant to another business deal in his pipeline. Buffett figured Bader could teach him a thing or two, which ironically taught him a valuable lesson back: that anyone you meet knows something you don’t, regardless of stature.
“Warren is a constant learner,” Bader said. “He wants to know what you know and what he can learn from you.”
During their conversation, Bader noticed that Buffett was “digging for something more, that energy, that passion, that connection to the business.” That spurred a second revaluation—that Buffett wanted spirit and enthusiasm from the executives he was meeting with. When it comes to running a successful business, passion tops intelligence in getting the job done right. The power of a can-do, passionate attitude in business has been echoed by other executives like Amazon CEO Andy Jassy and Cisco’s U.K. chief Sarah Walker.
Buffett’s advice touching CEOs and billionaire philanthropists
Buffett’s words have impacted more than just the people he interviews. Even some of the world’s most respected leaders see the billionaire as a north star in navigating the rollercoaster of entrepreneurship.
Early on in Melinda French Gates’ philanthropic career running the Gates Foundation with her then-husband Bill Gates, the Berkshire Hathaway investor gave her some advice on managing the stress—and she still lives by it to this day.
“Warren Buffett once said to us early in the [Gates] Foundation’s life, ‘Find your bull’s-eye of what you’re working on, and let the other things fall away. You’ll feel better if you keep your talents in that bull’s-eye, keep working those issues, and you’ll feel less bad about letting other things go,’” French Gates told LinkedIn last year. “And I think that’s true.”
American Express CEO Stephen Squeri also said he soaked up advice from Buffett during their bimonthly calls. In an interview with Barrons in 2023, the financial services executive recalled getting important guidance from the Omaha investor during the COVID-19 pandemic when no one was in public cashing out their Amex cards. Buffett advised him to hold two things down pat; it could mean a difference between boom and bust.
“His advice to me is, protect two things—protect your customers and protect your brand,” Squeri said.
