Foreign Property News | Posted by Hnin Ei Khin
Legendary investor Warren Buffett, known for his investment acumen and frugality, has always shown a different perspective on wealth and legacy. Living in the same home for over six decades, he epitomizes the adage that it's not about how much you have but what you do with it.
His daughter Susan shared a glimpse of this philosophy on "Good Morning America" in 2006.
After requesting a $41,000 loan for a kitchen renovation to fit her daughter's high chair, her father's response was straightforward: "Go to the bank and do it like everyone else." Such anecdotes are emblematic of Buffett's stance on dollar-based legacies.
In 1977, each of the three Buffett offspring received $90,000.
Aside from Christmas presents, this inheritance stands as the only significant monetary gift Buffett has confirmed giving his children.
This mindset does not stem from a lack of generosity. It's actually the exact opposite. Buffett's announcement to donate approximately $37 billion to the Bill & Melinda Gates Foundation was a testament to his commitment to social welfare. While the world was shocked, his children were not. They had known and supported their father's intentions. "It would be insane to leave us that much money," said Susan Buffett, aligning with her father's ethos.
Buffett is set to grant a cumulative $1 billion to his children's charitable organizations.
From the Susan A. Buffett Foundation, focusing on early education for underprivileged children, and the Howard G.
Buffett Foundation, which has extended assistance to 42 nations, to the Novo Foundation helmed by Peter Buffett, the children are set to continue the Buffett legacy in their own way.
Howard Buffett appreciates his father's wisdom. "He's given us the kind of money that we can use to help many in the world."
Ref: Warren Buffett's Daughter Once Asked Him For A Loan To Remodel Her Kitchen To Make Room For Her Baby's High Chair — He Told Her, 'Go To The Bank And Do It Like Everyone Else' (finance)
