Warren Buffett has been one of the most respected investors for his good nose for investments, although his peculiar investor style It is very far from the current short-term culture stock market crash. This vision has not only positioned him among the richest people in the world in the last thirty yearsbut it has helped him educate his children in the importance of earning their own money without expecting to receive theirs as an inheritance.
A trend increasingly fashionable among millionaires.
“You thought I was a bank”. That phrase, so typical of a mother from the 80s, seems to have been blurted out by Warren Buffett to his daughter when she asked him for 41,000 to renovate the kitchen of her house: “Go to the bank and do it like everyone else,” she herself confirmed in an interview on the program Good Morning America of the North American ABC.
The finance magnate is one of the main promoters of educational efforts among his children who, despite having a millionaire father, have had to learn to earn and manage their own money.
Buffett’s philosophy. Warren Buffett is characterized as an unconventional millionaire due to his austere habits. It is known that he has been using the same car for years, to buy your breakfast on the way to the office and lives in it house he bought more than 60 years ago.
Every year it makes a donation of about 4.6 billion to the foundation of his friend Bill Gatesthat of his late wife and those of his three children. The millionaire declared 18 years ago that his intention to donate 99% of your 106,000 million to charitable causes, and he seems willing to achieve it with the approval of his children. “The truth is that it would be crazy to leave us so much money,” said Susan Buffett in her interview with ABC.
Money doesn’t grow on trees. According to his children, the best inheritance you can leave them his nonagenarian father is to appreciate the value of money, not take it for granted. The tycoon’s daughter confesses that since they were children he paid them 75 cents, but the tycoon installed a slot machine in his house, so that, in the end, he always got his money back if one of his children decided to do something unproductive with it.
Susan Buffett recalled in that interview that the only notable amount of money that her father had given them was in 1977 when he gave them $90,000 each, the result of the sale of his grandfather’s farm that Warren Buffett had inherited. The rest, they have had to earn for themselves. a maxim from his father: “Leave your children enough so they can do anything, but not enough so they can do nothing.”
Of such a suit… One of Warren Buffett’s convictions is that what The world needs the least they are rich heirs. For this reason, he is more interested in donating a large part of his fortune to try to leave them a more just world through impact investments that improve people’s lives. According to Forbes estimatesthe millionaire investor would have donated about 55,200 to the Melinda and Bill Gates foundation, with whom he shares a select millionaires club with which he is encouraged to donate a large part of his fortune to charitable purposes.
Buffett’s goal is to have donated around 160,000 to charitable causes, something that really is not going to be difficult for him since, as the veteran investor recognizesis more than twice as rich as in 2006, even after giving away more than 55 billion.
…Such a splinter. Buffett’s children have learned their father’s lesson by creating and managing foundations to which the magnate regularly contributes a substantial annual figure. Susan Alice Buffett is the oldest sister and dedicates herself full time to managing several foundations and educational support entities financed by the Buffett family: her mother’s Susan Thompson Buffett, The Buffett Early Childhood Institute, Girls.Incas well as the Sherwood Foundation that she founded.
Howard Graham Buffett is the middle brother and has been holding senior management positions in the agri-food industry and even dabbled as a politician. Your foundation He also has million-dollar annual contributions from his father to improve food security and protect people.
Peter Buffett is the youngest of the Buffetts, who has combined his musical career with the management of the NoVo Foundation, who, like those of his brothers, receives generous contributions from Warren Buffett to fight against social inequality.
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