Warren Buffett, one of the wealthiest individuals in the world with a net worth of $142 billion, is known for his generosity when it comes to charity. However, when it comes to his children, handouts are not part of the deal. In an HBO documentary, Susie Buffett shared a story that highlights her father’s frugality. When she asked him for a $41,000 loan to renovate her kitchen after having a baby, he told her to “go to the bank like everyone else.”
Susie has mentioned this story before, explaining that she wasn’t asking for a handout and was surprised by her father’s refusal. Despite feeling caught off guard, Susie never felt like her dad was being cheap or thrifty. She and her siblings grew up with a normal upbringing, receiving allowances that they quickly spent on candy and magazines.
In the documentary, Susie credits her mother with helping to soften Warren over time, making him more willing to loosen up as the kids got older. As adults, it became clear that they wouldn’t change their ways, and Warren’s nerves about money have eased up with time.
Susie believes that Warren’s careful approach to money hasn’t been something to resent, and looking back, she feels like his principles shaped their lives in a positive way. In fact, Susie agrees with her father’s financial philosophy of not dumping a bunch of money on their children. She feels grateful for the parents they had and the lessons they learned about financial discipline.
This story serves as a reminder that even the wealthiest individuals can teach valuable lessons about the importance of living below one’s means and being responsible with finances.
Source: https://www.benzinga.com/personal-finance/24/09/40881429/warren-buffetts-daughter-asked-him-for-a-41-000-loan-to-remodel-her-kitchen-but-the-billionaire-