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Buffett's Legacy

  1. May 8, 2010 #1

    Astronuc

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    Staff: Mentor

    I heard an interesting interview with Peter Buffett, son of Warren Buffett.

    http://www.npr.org/templates/story/story.php?storyId=126538348

    That was a lot of money when I was 19. That would have paid for my parents house!

    Peter Buffet's website - http://www.peterbuffett.com/index3.html [Broken]

    He is a musician and philanthropist.

    One may encounter something affiliated with Berkshire Hathaway any day.
    http://en.wikipedia.org/wiki/List_of_assets_owned_by_Berkshire_Hathaway
     
    Last edited by a moderator: May 4, 2017
  2. jcsd
  3. May 8, 2010 #2
    Also note that the initial $90K would today be worth 70 million if he hadn't spent it...

    Maybe his dad was trying to teach him an object lesson, and he just didn't follow it.

    I believe Buffet had 3 children and he did the same with all of them.

    Just handing someone money teaches them nothing.. teach them how to manage money and they'll go much further..

    IMHO having the right values and moral compass trumps a few creature comforts and security. I'm right on board with Warren.

    Go Dad!
     
  4. May 8, 2010 #3
    This is a hard problem. I've thought about it for years. The answer is to do what Buffet did but then after your kids turn out well you give them the billions anyway. If they think the money is heading their way it will corrupt them.
     
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