Warren Buffett’s children grew up largely unaware of their father’s immense wealth, with his son Howard recalling how his sister once mistook the billionaire’s profession for something entirely different.
Warren Buffett’s Children Had No Idea How Rich They Were
In a 2011 interview with CBS’ 60 Minutes, Howard, Warren’s middle child, revealed that he and his siblings had little understanding of their father’s growing fortune as they were growing up.
Asked whether he knew his family was wealthy, Howard said, “No, not at all.”
He recalled that his sister once described their father as a “security guard” during a school exercise because the children knew him as a security analyst but did not understand what the profession entailed.
Howard Buffett Chose Farming Over Following His Father
Unlike his father, Howard found his calling in agriculture. His passion began at age 5, when he transformed the family’s backyard in Omaha into a cornfield.
Warren later purchased farmland for his son and charged him rent based on his body weight, turning the arrangement into an unconventional lesson in responsibility.
Howard eventually became a successful farmer, accumulating approximately 15,000 acres across Illinois, Nebraska and South Africa.
His journey was far from conventional. He attended three colleges but dropped out of each and none of Warren’s three children graduated from college.
Howard acknowledged that he could never match his father’s success in the public eye, but said his parents made it clear that was perfectly acceptable.
Howard Buffett Takes Over Berkshire Hathaway Chairmanship
This month, Howard, 71, succeeded his father as chairman of Berkshire Hathaway Inc., following Warren’s departure.
Howard, who has served on Berkshire’s board since 1993, will serve as nonexecutive chairman, focusing on preserving the company’s culture rather than overseeing investments.
CEO Greg Abel will continue managing daily operations.
Warren described the division of responsibilities in his retirement letter: “Greg runs the company; Howard will guard its culture and values — both worth more than anything on our balance sheet.”
“Think of Howard as a policy the shareholders own and hope never to claim against,” Warren wrote in the letter.
According to Celebrity Net Worth, Howard currently has a net worth of $400 million.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: paparazzza / Shutterstock.com
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