Warren Buffett
Berkshire Hathaway's CEO Warren Buffett (L) and his business partner Vice Chairman Charles Munger answer questions at a news conference in Omaha, Nebraska, May 4, 2003. Getty Images/ Eric Francis

Warren Buffett, 87, is one of the most successful investors in the United States. He is the chief executive officer, president, and chairman of Berkshire Hathaway. He was named the second richest person in the country and fourth wealthiest in the world by Forbes in August 2017, with an estimated net worth of $76.9 billion.

Along with being a philanthropist, Buffett is also an excellent orator. The following are a few of his quotes, on the occasion of his 87th birthday Wednesday, which is sure to inspire young entrepreneurs across the globe, as taken from Brainy Quotes:

1. Someone is sitting in the shade today because someone planted a tree a long time ago.

2. Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.

3. It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.

4. In the business world, the rearview mirror is always clearer than the windshield.

5. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.

6. Chains of habit are too light to be felt until they are too heavy to be broken.

7. It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.

8. Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.

9. I always knew I was going to be rich. I don't think I ever doubted it for a minute.

10. Basically, when you get to my age, you'll really measure your success in life by how many of the people you want to have love you actually do love you.

11. Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.

12. Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.

13. When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.

14. I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.

15. The only way to get love is to be lovable. It's very irritating if you have a lot of money. You'd like to think you could write a check: "I'll buy a million dollars' worth of love." But it doesn't work that way. The more you give love away, the more you get.