Susan Buffett reveals the surprising way she found out that her dad, Warren Buffett, was rich

Susan Buffett didn't find out her father, billionaire Warren Buffett, was rich until her early 20s, and she definitely didn't hear it from her parents.

"I didn’t really have any idea about any money until I was long out of high school and out of Omaha," Susan recently told Business Insider.

"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!'"

The founder of the Sherwood Foundation, a children's charity, Susan takes part in a portrait of her father, HBO's "Becoming Warren Buffett," which premiered Monday.

In the documentary, Susan provides intimate details about her parents, growing up in the family's home in Omaha, Nebraska, and what drove her father to give away a large chunk of his fortune to charitable causes.

As for finding out that her father was rich from a news article, she attributes it to her modest upbringing.

"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 neighborhood. He still lives in the same house today."

There were certainly signs that her father was doing well, such as when her mother started a scholarship program when Susan was in high school.

"It was only a couple kids a year, but she started as soon as there was some money there to give away," she said.

After thinking on it more, Susan said there was one visit that gave her an early clue that her father was doing pretty well. Adam Smith, who wrote "Supermoney," a pivotal book about the financial industry, came knocking.

"I may have been a senior in high school then," Susan said. "And I remember Adam Smith came to visit our house in Omaha. And I remember when I heard the name of the book was 'Supermoney,' I was like, 'OK, that’s something.' [Laughs] But I still don’t really think we talked about it."

Comments

Bitcoin Laundering” Study: Where Do Criminals Turn to Mask Illicit Cryptoassets?

A recent study ( PDF ) from the Foundation for Defense of Democracies’ Center on Sanctions and Illicit Finance and blockchain analytics company Elliptic explored the “bitcoin laundering” ecosystem. In the study, Elliptic’s forensic analysis of the Bitcoin blockchain and other publicly available data were used to track the flows of illicit funds from 2013 to 2016. “This study aimed to identify where individuals turn in order to cash out or transmit bitcoins (BTC) acquired from illicit entities and to discover typologies for criminals ‘laundering’ bitcoins,” the report says. The study describes bitcoin laundering as a special type of money laundering that exists within the Bitcoin network where a user moves some bitcoins to a new address in a manner that obscures the original source of funds. The conversion of bitcoins into fiat currency on exchanges that lack adequate anti-money laundering (AML) and know-your-customer (KYC) policies can also fall under the category ...

Soaring Bitcoin Price Leads $159 Billion Crypto Market Recovery

Bitcoin Well, somebody bought the dip. Just as critics were rushing to proclaim that the bitcoin bubble had burst, the markets staged a $159 billion recovery. The rally was headlined by the bitcoin price, which rebounded from its sub-$10,000 fling and is currently flirting with $12,000. Several other top-tier coins, meanwhile, returned single day increases in excess of 40 percent. Source: CoinMarketCap Altogether, the cryptocurrency market cap clawed its way back to $574 billion, representing a 38 percent recovery from Wednesday’s intraday low of $415 billion. Bitcoin Price Eyes $12,000 Wednesday served as a trial-by-fire for recent bitcoin investors, some of whom had purchased the flagship cryptocurrency for $19,000 at the height of the rally in mid-December. Bitcoin Price Chart The correction forced the bitcoin price below $10,000 for the first time since early December, but Thursday’s rally enabled bitcoin to regain a bit...

How to Boost Your Credit—or Build it Up From Nothing

Now that you know how credit works , you probably want to know how to make it work better . While nothing is better for your credit than paying your bills in full and on time, there are ways to give it a boost. Like it or not, credit matters . It’s also complicated. In our “Everything You Need to Know About Credit” series, we’re breaking down the basics. When a lender or landlord looks at your credit, they’re not just looking for a three digit number, they want to know how you actually handle credit. That’s why your credit report is more important than your score. That said, your score matters, too, and the good news is, there are shortcuts for boosting it in a relatively short amount of time. And if you don’t have credit at all — let’s say you’re a teenager about to start college — your biggest focus should be on building up a credit history. That way you can apply for student loans, apartments, and make sure you aren’t gouged on bills . Here are some options...

Gsbt

Search This Blog