Though Warren Buffett is worth almost $80 billion, the chairman and CEO of Berkshire Hathaway does not wear bespoke, couture suits from Italy.
In fact, though he has about 20 suits, each was made in China.
Buffett has a long-term relationship with the suit-maker and self-made entrepreneur behind Dalian Dayang Trands, Madam Li. Years ago, she took a risk, caught his attention and then won his respect.
As Buffett recalls on CNBC's "Squawk Box," his relationship with Madam Li began when two of her employees greeted Buffett at his hotel in Dalian, China, and started taking his measurements.