Buffett Endorses Network Marketing?

Warren Edward Buffett was ranked as the third-richest person in the world (Forbes magazine 200704). His current net worth is estimated to be approximately $52,000,000,000 US.

Are you aware that Mr. Buffett apparently characterized his purchase of a network marketing company as,

“The best investment I ever made.”

If you’re a network marketer, is Mr. Buffett’s characterization something to get excited about?

A network marketing cynic would almost certainly say something like, “Mr. Buffett’s statement does nothing more than affirm that it can be very profitable to own a network marketing company.” Is the cynic correct? Superficially, yes – of course, the critic is right, but there may well be more to the story.

Mr. Buffett is well-known for his frugal lifestyle. He takes an annual salary of about $100,000; tiny in comparison to senior executives at most American corporations. Mr. Buffett lives in the Nebraska home he purchased in the late 1950s for a little over $30,000. Very significantly, in the Summer of 2006, Mr. Buffett made a commitment to give most of his fortune to charity.

My conclusion is that network marketing benefits from the endorsement of a gentleman who appears to posses character, integrity and credibility.

Update 20111104: I’m no longer involved with network marketing.