Dairy Queen CEO claims he learned from Warren Buffett that being the ‘smartest person in the world’ isn’t the most crucial trait for success

(SeaPRwire) –   Lots of businesses start with a great idea—but that alone won’t make a company thrive on a large scale. Dairy Queen CEO Troy Bader shared that Warren Buffett showed him passion for the mission matters more than anything—being the “smartest person in the world” can’t beat “someone with that drive.”

“No matter who you talk to—they have knowledge you don’t,” Bader told Business Insider in a previous year.

That’s one of two key lessons Bader has held onto since his 2017 job interview with Buffett for the top role at the billion-dollar ice cream chain. With the serial investor retiring from his six-decade leadership of Berkshire Hathaway at the end of 2025, his advice feels even more impactful. Bader learned that even the most accomplished people still have room to learn—and passion beats smarts when building a business. 

What it’s like to be interviewed by Warren Buffett

Bader confessed meeting Buffett was intimidating—especially since Berkshire Hathaway paid $600 million to take Dairy Queen private in 1998. The business icon has always loved Dairy Queen, both professionally and personally. So the ice cream chain’s CEO felt the strain to make a good impression during their chat.

“It was autumn 2017—I’ll always remember that day,” Bader told Business Insider. “I was really nervous going in because while I felt confident about our business, I was sitting across from Warren Buffett.”

Buffett didn’t come across as “very arrogant” in meetings like some might think, Bader noted. Instead, the Oracle of Omaha spent the first 15 to 20 minutes asking the Dairy Queen leader about a topic tied to another business deal he was working on. Buffett thought Bader could teach him something—and that ironically gave Bader a valuable lesson: no matter who someone is, they have knowledge you lack. 

“Warren is always learning,” Bader said. “He wants to understand what you know and what he can gain from you.”

During their talk, Bader saw Buffett was “looking for more—energy, passion, a real bond with the business.” That led to a second realization: Buffett wanted executives with spirit and enthusiasm. For running a successful business, passion beats intelligence in doing the job well. Other leaders like Amazon CEO Andy Jassy and Cisco’s U.K. head Sarah Walker have also emphasized the value of a proactive, passionate mindset in business.

Buffett’s advice for CEOs and billionaire philanthropists

Buffett’s advice has influenced more than just those he interviews. Even some of the world’s most admired leaders look to the billionaire as a guide through the ups and downs of entrepreneurship.

Early in Melinda French Gates’ philanthropic work leading the Gates Foundation with her then-husband Bill Gates, the Berkshire Hathaway leader gave her stress-management advice she still follows. 

“Warren Buffett told us early on in the [Gates] Foundation’s existence, ‘Find your core focus—what you’re working on—and let other things drop. You’ll feel better if you keep your skills focused there, keep tackling those issues, and you’ll worry less about letting other things slide,’” French Gates told LinkedIn in 2024. “And I believe that’s correct.”

American Express CEO Stephen Squeri also shared he gained advice from Buffett during their twice-monthly calls. In a 2023 Barrons interview, the financial services leader remembered Buffett giving him key guidance during the COVID-19 pandemic—when few people were using their Amex cards in public. Buffett told him to focus on two critical things; it could mean the difference between success and failure. 

“His advice to me is, protect two things—protect your customers and protect your brand,” Squeri said. 

A version of this story was published on .com on May 21, 2025.