Berkshire Hathaway vice chair Charlie Munger praises Lee Kuan Yew's mantra of doing what works

Not the first time the billionaire praised Lee Kuan Yew.

Belmont Lay | May 05, 2019, 03:06 PM

Berkshire Hathaway’s vice chair, Charlie Munger, has paid tribute to the Lee Kuan Yew again.

The 95-year-old billionaire said on Saturday, May 4, 2019 that the one mantra he followed in life was a saying by Lee.

Do what works

In response to a question about human nature at the annual Berkshire Hathaway (BRK-A, BRK-B) shareholder meeting in Omaha, Nebraska, Munger said Lee had a formula for success that he quite liked.

“Lee Kuan Yew -- who is the greatest nation builder, probably that ever lived in the history of the world -- he said one thing over and over and over again all his life,” Munger said.

And that was to “figure out what works and do it”.

"If you want one mantra, it comes from Lee Kuan Yew."

With that attitude, Munger said, things will work out: “You just go at life with that simple philosophy from your own national group, You will find it works wonderfully well. Figure out what works and do it.”

Fond of Lee Kuan Yew

Munger has always been fond of the late prime minister of Singapore, who passed away at 91 in 2015.

He has also said he liked Lee’s unique and controversial style of governance.

In 2010, Munger praised Singapore and the late Lee during a Q&A session at the University of Michigan.

“Singapore is the single most successful governmental system to exist in the world,” he said.

“If you will make a study of the life and work of Lee Kuan Yew, you’ll find one of the most interesting and instructive political stories written in the history of mankind.”

Lee Kuan Yew was the first prime minister of Singapore for three decades.

Under his leadership, unemployment fell from double-digits to 2.2 percent, while GDP per capita of $516 at independence in 1965 rose to more than $57,000 today.

This has led Lee to be viewed with awe and dissent.