How Ryan Murphy Was Directly Influenced by Warren Buffet to Build $100 Million in Net Worth

The Paris Olympics called and swimming veteran Ryan Murphy answered. He clinched his spot to be a three-time Olympian by dominating the men’s 100-meter backstroke at the U.S. trials at the Lucas Oil Stadium. Murphy showed why he’s a seasoned swimmer with six Olympic medals under his belt as he blazed through in 52.22 seconds. But Murphy’s talents don’t stop at the pool’s edge. Beyond his achievements in swimming, he’s made waves in the financial world.

According to reports from Forbes and Business Insider, Ryan Murphy’s net worth is estimated to be around $100 million. But his wealth isn’t just from swimming prize money. Murphy is also deeply into investing, regularly playing the stock market. And guess who has been a major influence on his investing game? None other than the legendary Warren Buffett.

How Ryan Murphy uses Warren Buffett-approved investment tricks

Back in 2020, Ryan Murphy opened up to CNBC about his early exposure to financial wisdom that shaped his approach to money. He recalled, “I was in seventh grade when my dad took me to the bank to get my first debit card and set up a bank account.” By age 13, his grandpa was teaching him about investing during family get-togethers. His grandpa’s advice stuck with him: when the stock market takes a dip of about 10%, known as a market correction, it could actually be a golden opportunity to buy stocks of companies with strong long-term potential.

The backstroke maestro shared, “That was a big tip that I got at a young age: Long term, the market is good.” Ryan Murphy’s grandpa’s strategies weren’t just good family advice—they were also endorsed by none other than Warren Buffett, CEO of Berkshire Hathaway. Speaking about the long-term investment philosophy, Buffett shared in a 2016 CNBC interview, “The money is made in investments by investing and by owning good companies for long periods of time.” 

Another piece of sage advice Ryan Murphy learned was that it’s smart not to put all your money into just one company. Instead of putting all his money into one company, he spread his investments across different types, like index funds that include stocks from many large companies. This way, if one company’s stock goes down, it doesn’t sink his entire investment.

Buffett echoed this strategy in a 2017 CNBC interview, advising, “The trick is to essentially buy all the big companies through the S&P 500 and to do it consistently.” Despite these smart moves, Ryan also admitted, “I still get a little bit nervous.” However, the Olympian also shared that he keeps some of his money aside in case there’s a big drop in the market, so he can buy more at lower prices. This is a smart way to take advantage of opportunities when they arise. Reflecting on these insights, let’s explore how his family’s education influenced his financial decisions.

What influenced his love for finance?

In 2021, in celebration of Financial Literacy Month, Ryan Murphy opened up about his love of finance and how his family influenced this side hustle. He shared, “So my degree was in business administration, so I felt like I got kind of exposed to a lot of different areas of business.” Acknowledging his family’s strong academic and professional ties to math and finance, he said, “I’m a nerd. I’ll admit it. I come kind of from a family of nerds.”

His grandpa was an author of math textbooks, his mom was a math professor, and his dad transitioned from accounting to working in finance. “So I feel like I’ve been surrounded by numbers my whole life, so I think the stock market is a pretty natural hobby for me. It definitely keeps me on my toes,” shared the soon-to-be three-time Olympian. As we contemplate his remarkable achievements in both swimming and finance, what are your thoughts on Ryan Murphy’s financial savvy and the investment wisdom endorsed by Warren Buffett? Share your thoughts in the comments below!