Warren Buffett is now the wealthiest man in the world. The ‘Oracle of Omaha’ moved to the top of Forbes Magazine’s list of the world’s wealthiest people last week, ousting Bill Gates, who had occupied the top spot for the past several years. The news wowed the financial world, particularly as it comes during a period when Buffett has announced he’s begun giving away his wealth in various philanthropic endeavors. Buffett, who bought his first stock at age 11 and has regretted “waiting too long” ever since, heads Berkshire Hathaway, at the top of the most expensive stocks in the world for decades now. He began with only $105,000 in 1956, starting a long, inexorable climb to where he stands today, with a net value of $62 Billion.

In the background is the folklore that surrounds him. He loves cherry Coke, eats well-done steaks and lives in a 3-bedroom bungalow in Omaha that has been “home” for 50 years. His frugality is legendary. He drives his own car without an assistant or bodyguard. He never travels by private jet even though he owns the world's largest private jet company. His company, Berkshire Hathaway, owns 63 companies. He writes each CEO exactly one letter per year, giving them goals for that year and two rules: Rule number 1: do not lose any of your shareholder's money. Rule number 2: Do not forget rule number 1.

Mr. Buffett is primarily interested in the business rather than the wealth that results. He advises young people to "Stay away from credit cards (bank loans) and invest in yourself. Remember money doesn't create man but it is the man who created money.” Still it’s interesting to note that a blink from him can send investors rushing to buy a stock he favors. Or even seems to favor.

Buffett says he thinks of money as a means of keeping score rather than an objective in its own right. The fun, Mr. Buffett has said, is watching it grow. Mr. Buffett’s well-known frugality has enabled compound interest to work its magic. During Buffett’s tenure at Berkshire Hathaway, the S&P 500 index has produced an average total return of 10 per cent. That return reinvested over 42 years will multiply your stake 67 times. But if your investments yield twice as much as that – as Warren Buffett’s have done – your wealth increases not by twice 67, but 67 squared, a factor of 4,500. That arithmetic has made him and his investors into the most richly rewarded people in the world.

The calculation illustrates a more subtle point. Mr Buffett’s fortune has come not through growing an investment management business, but from his own share in the value of the funds he manages. His own money was always on the line. At gibLink.com, we’re in favor of getting behind your own hard work as well. And we like Warren Buffett’s ideas.

At age 14, he bought his first piece of real estate. He bought a farm, using money he saved from delivering newspapers. He could have bought many things with his savings. Often asked by parents how to teach kids about money, Buffett suggests they encourage children to start some kind of business. We think his advice is good for adults, too.

Starting a new business is tough, but it can be done. And we can help at gibLink. Join the site, advertise your products and business, and start a side business helping others to do the same. Blog about your business pursuits and products. Attract more business, sell some online advertising through gibLink and watch your business grow and bloom from month to month.

Buffett still lives in the same mid-town Omaha, Nebraska house he’s lived in since 1958, with no fence or walls. He says that he has everything he needs in that house. He says he doesn’t buy things he doesn’t need and he encourages his kids to do the same. Don't buy more than what you "really need,” and help others to learn that same economy. At gibLink, we like to encourage good business practices: buy what you’ll use, use what you need, and don’t pay for extras. Buffett thinks this is the way to keep costs low and we agree.

Buffett doesn’t put on airs. “You are what you are” is his reasoning for not traveling by private jet or having a body guard. He’s more interested in how things can be accomplished economically. We’ve got website domains, hosting, emails, postcards, business cards, and everything else an entrepreneur or small business could need. And like Warren Buffett, we’re always trying to “think how you can accomplish things economically.”

And finally, even as the newly crowned “Richest Man in the World,” Warren Buffett remains humbly at home with himself. He doesn’t socialize with the so-called “high society crowd.” His past time when he returns home is to make himself some popcorn and watch television. He does what he enjoys doing without thought to how it appears to others.

This is also good advice for anyone at any level. We also think there is some good society to be had among the up-and-coming crowd. Your fellow gibbers are waiting for you to join in and build the community. Our message boards have advice, camaraderie, and friendship all from the best people in the world: other home-based and small business people and entrepreneurs. They have the know-how to spare. If you’re just starting a business, they’ve been there. In the midst of growing pains? They’ve had those, too. If you’re looking for new ways to grow an existing and well-established business, those members are standing by, too. We think they’re a great resource and have a lot to share.

A few more bits of Buffett wisdom: live your life as simple as you are. Don't do what others say. Just listen them, and do what makes you feel good. Those are words to do business by. And we think you’ll feel good about gibLink.com, so come on by whenever you’re ready.