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Spanx billionaire learns not to use this word in UK

Sitting next to Warren Buffett for alive interview on CNBC's "Squawk Box," Sara Blakely, the inventor of Spanx and founder of the women's undergarment company that's made her a billionaire, recounts an embarrassing BBC interview in which she used a word that has a very different meaning in England than it has in the U.S.

That's not all she spoke about, of course. Here's a clip of the entire lively and entertaining interview, including why her father encouraged her to fail when she was a child and Warren Buffett's words of praise for her.

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