The billionaire, who owns the world's largest private collection of works by Rembrandt van Rijn, spoke to Business Insider just before the “Resting Young Lion” auction at Sotheby's in New York.
Kaplan said protecting endangered felines has been his greatest passion since he was six years old. He dreamed of becoming a felidologist, but a few years later he realized that he lacked scientific talent.
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“But I made a vow to myself – I think I was about 12 years old – that if I ever made enough money, I would come back to this topic and support and enable all those conservationists who had the predispositions that I didn't have,” Kaplan said.
Later he made a fortune in the energy and precious metals industries. True to his word, he co-founded Panthera in 2006 with renowned cat advocate, the late Alan Rabinowitz, and together they built the organization into a world leader in the field.
— I am very mission-driven and will do whatever it takes to advance causes that are important to me Kaplan said.
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Tip #1: Be grateful
Kaplan shared three pieces of life advice with Business Insider.
When asked how he keeps his three children grounded in his ultra-rich home, he replied that they are simply “not motivated by money.”
— No glitz, no social media, no cars or watches or other signs of wealth. None of these things – he added.
Kaplan emphasized that he instilled in them the importance of giving to others and being grateful because he believes that “The basis of all happiness is living in a spirit of gratitude”.
He also made sure that “understood that if you are an ungrateful person, you will be unhappy – and you deserve it.”
Tip #2: Don't be afraid to say “I don't know”
Kaplan also stressed the importance of recognizing the limits of one's knowledge and refraining from speculating on things that one does not thoroughly understand. Warren Buffett calls this staying within your “circle of competence.”
— Don't be afraid to say: I don't know Kaplan suggests. — Credibility is hard to gain and very easy to lose.
The NovaGold Resources chairman added that people respect his knowledge in certain areas and he never wants to “devalue this currency by acting recklessly.”
— Be disciplined enough not to feel that if someone asks you something, you have to answer it – says.
Tip #3: If you have conviction, give it your all
Kaplan's final piece of advice was related to this: when you speak on a topic you know intimately or invest in an asset you deeply understand, do so with conviction.
— If you are going to fall, it will be because of something that was not reckless but well thought out – he emphasizes.
“When you have a relative advantage, put the pedal to the metal,” Kaplan adds. “If you don't have it, don't play,” he continues.
The above text is a translation from American edition of Business Insider
