Why Warren Buffett Really Cut Off His Granddaughters
The story of Warren Buffet’s Adopted Twin Granddaughters
Warren Buffett’s frugality is a thing of legend. He’s lived in the same house for over 60 years. He drives himself around town in a Lincoln worth fifty thousand dollars and he eats a Big Mac once a week for lunch.
As of December 2020 his net worth is estimated around 86.5 billion USD¹. That’s after giving half of his money to charity.
The three Buffett children were given 90k in 1977. The money wasn’t from Warren, it was their inheritance from the sale of their grandfather’s farm after he passed. This is the only money Warren has acknowledged giving to his children besides Christmas gifts².
Warren gave his children their inheritance in Berkshire Hathaway stock. If any of his children held on to the stock, it would be worth over 200 million today.
None of them kept the stock. They needed the money.
Warren Buffett likes to tell the story about how he turned down his daughter’s request for a $41,000 loan to improve her kitchen.
“I asked for a loan to expand the kitchen so I could fit the highchair in when my daughter was born, and he said ‘Go to the bank and do it like everyone else,’”⁶
