By Jatinder Singh, Associate Partner & Mentorship Coach, Lighthouse International
Warren Buffett shows us the importance of not flaunting wealth.
You may expect that the child of one of the wealthiest men in the world would grow up with a lifestyle full of privilege. Susan Buffett, daughter of legendary investor Warren Buffett and one of the wealthiest men on the planet gave a different perspective when she was recently interviewed by HBO in a documentary on his life:
"When we were growing up he didn’t have a lot of money and he wasn’t famous," she said. "So we didn’t see anything but a regular, normal situation in our house. He went to the office every day, he came home, he was at the dinner table. He did go upstairs and read the rest of the evening, but he was home. And we lived pretty much like everybody else. Nothing was too different. Really, we lived in what I guess I would describe as an upper-middle-class neighbourhood. He still lives in the same house today."
"I didn’t really have any idea about any money until I was long out of high school and out of Omaha [where they both lived and he still does]. There was an article in the Wall Street Journal at one point when I was probably about 22 or 23, I'd say. That was the first time I was like, 'Oh, there's more going on than I knew about'."
Warren Buffett, like his mentee Bill Gates, has made it very clear that he felt giving his children too much money would be damaging for their growth and development. He primarily wanted to pass his work ethic to his children - rather than his money. This is admirable and shows a lot of humility and wisdom, as indeed it would be so easy for him to give his children everything money could buy! To read more on this story click here.
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