Warren Buffett has this piece of advice for youngsters and it's not stocks

Ace investor Warren Buffett has a piece of advice of young graduates and no, it is not about stock investment or portfolio building. It's an interpersonal skill — communication.

Improving one's communication skills is the easiest way for youngsters just starting out on their professional paths to increase their worth by 50 percent, Buffett told entrepreneur Michael Hood.

Michael Hood had asked Buffett to share a tip that 21 to 22 year-olds or people who have just graduated from college can use.

Buffett believes that communication is foundational to success. "If you can't communicate, it's like winking at a girl in the dark — nothing happens. You can have all the brainpower in the world, but you have to be able to transmit it," Buffett told Hood.

Buffett is an alumnus of prestigious universities such as the University of Pennsylvania and Columbia University, but he says that the only degree that he displays on the walls is his communications certificate that he got from the Dale Carnegie communication course, as overcoming his fear of public speaking changed his life. He has said that completing the course has been the most important investment.

Buffett was 52 when he first made it to the Forbes list of richest Americans. His net worth at that time was $250 million. Three years later, his net worth quadrupled and he became a billionaire. From 1989 to 1999, Buffett's net worth grew ten times. Currently, his net worth stands at $77.5 billion, according to the Bloomberg Billionaires Index at the age of 88.