[Opinions] CEOs Read

“My wife calls me the Imelda Marcos of books,” said Michael Moritz, a venture capitalist who amassed $1.5 billion by investing in Google, Yahoo!, YouTube and PayPal. Imelda Marcos, former first lady of the Philippines, is famous for her extensive shoe collection. The analogy speaks volumes about Mortiz’s passion for books. According to the July 21 edition of the New York Times, many U.S. CEOs enjoy reading so much that they even keep personal libraries. They also love literature, such as novels and poetry, more than business books.

Microsoft Chairman Bill Gates once said, “It was the public library in my neighborhood that made me what I am.” Being the world’s richest man thanks to his computer operating system business, he says, “Computers will never replace books.” Apple CEO Steve Jobs is recently fascinated by British writer William Blake. Jeff Bezos of Amazon reportedly got his inspiration for his business while reading on a plane.

Samsung Group Chairman Lee Kun-hee is Korea’s best known book-enthusiast CEO. Reading on average 20 books a month, he is sometimes photographed while reading in his front yard. Some say that the reform of Samsung Group is based on books he has read. All of the 13 CEOs featured in the book “CEOs find a way in books” released last year also speak in unison: “Reading laid the foundation of my success.”

The Samsung Economics Research Institute has selected 20 books that CEOs read during vacation every year by surveying chief executives in the summer vacation season. This year’s selection, announced on July 18, includes “Revolutionary Wealth,” “Power Shift,” and “Knowledge Management of Dasan.” Probably because of their jobs as chief executives, most of the books on the list are about future trends and strategies. The research institute said that books that CEOs read during vacation, “Give them inspiration and imagination needed for strategic thinking from a broader perspective, departing from the routines of their daily operations.”

Chung Sung-hee, Editorial Writer, shchung@donga.com