'Buffett won the lottery by being born as a white male in America,' says legendary investor Howard Marks

Howard Marks, Warren Buffett

Oaktree Capital Management Co-Chairman Howard Marks said he and veteran investor Warren Buffett had "won the lottery" by being born as a white male in America in the mid-20th century. He however added that the greatest luck is to be born at this time and have access to education.

While speaking at the Moneycontrol Global Wealth Summit 2025, Marks said that today, one doesn't need to be born as a white male in America to achieve success. "If you can access education and work hard, you can achieve success. Now, it is not merely as dependent on your gender, race or location," he added.

Marks further said that he is very optimistic on India and the energy is completely different now, being under an "incredibly constructive government".

He however added that India has a very large chunk of population that has to be moved into the middle class. They have to be educated with skill and be provided with jobs. The capital base has to be increased as well.

"Due to uncertain geopolitical overtones, many people have described China as uninvestable. India has benefitted from the fact that so many people see China in a lot less positive light today. I am optimistic on India, very glad to be here," Marks further said.

While noting that he is no expert on the markets of India and China, the veteran American investor said China has great potential, great human resources and education, and is greatly motivated.

"If China settles on the right policies, it can continue to do well. It has to make up its mind to become socialist or encourage the private sector," he added.

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