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Warren Buffett's Granddaughter Feels Bad About Her Check
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RainbowBrite
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
From what I know about Warren Buffet, he has paid for all of his children/grandchildren's school expenses, and he is leaving his children $1M each. That's all. He believes America should be a meritocracy and that he shouldn't be creating legacies with the wealth that he built, which is why he partnered with the Gates foundation to give away all of his money.

That is fucking AWESOME. No one - kids, grandkids, whatever - should think they have a "right" to his money. Rock on, Warren.

And I'm not bothered by his letter to her b/c (1) who knows if it's real and (2) who knows their family dynamics and what tensions/conflicts have always been around.
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onegirlinlove,withtv
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
(takes a deep breath, jumps into the commenting waters)

I agree with much of what is said above, and to add my (very first Jezebel) two cents...

I think what is most disturbing to me about this is the sense of entitlement and the lack of understanding the role privilege played in her life, and that because of this she has received things many other people have not. The education, the lifestyle growing up, the fact that she makes that much as an artist, and the fact that she probably could have entrance into all kinds of jobs simply because of her name. So much of her life has been determined by a good luck of the draw, and I find it unsettling that she doesn't seem to realise or appreciate this.

Also, while the letter from Buffet seems to be very harsh, I also wonder if he was hurt by what she did. And when people are hurt they do unfortunately say mean things. (It is also possible that I want to think this because I have always thought Buffett's idea of giving the money to charity was refreshing, and lives as someone who is very appreciative of how lucky he is. )
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funnyface
12/18/08

@onegirlinlove,withtv: Great first comment! And one thing I think is interesting is that Buffet is following in the footsteps of another great American Self Made tycoon: Dale Carnegie, who also was no fan of inheritances, was greatly in favor of high estate taxes, and tried to give away as much of his money as he could so there'd be little to leave behind.
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So Irish
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
$183/month for Healthcare????

My healthcare is partially paid for by my work, has shitty coverage, and still cost me $280/month!!!

Bah!
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Scout
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
Nicole, please provide a copy of said letter to determine whether the statement made is true or false.

That said, regardless, it is well known that Warren's children will not inherit any large amount of his wealth. He has always said that he is against trasnferring great fortunes from generation to generation.

He can do whatever the fuck he wants with his money and this girl should lay no claim nor feel entitlement to it.

PERIOD.
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Jamie Sommers
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
It's interesting how she says she thinks she is doing well on her own, when the article implies that it's her last name that opens doors for her in the art world and she's only profiled in Marie Claire magazine because she's Warren Buffett's granddaughter. I wouldn't call that living independently. She's still using her grandfather to get things that wouldn't be available to the average unknown artist.

I would think that "making it on your own" would mean more than not taking money from rich relatives. It would also mean not using the family name and connections to open doors or get opportunities that otherwise would not be available to Jane Winebox from Flyover, KS or something.
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♠ Final ♠
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
Umm, as far as I'm aware Warren Buffet isn't even giving his own children any of his billions. There was a whole show on msnbc a few months ago about it. If his children aren't getting anything why should she?
From a NY Times article: "I don't believe in dynastic wealth," [Warren Buffett] said, calling those who grow up in wealthy circumstances "members of the lucky sperm club."

Having 100Gs dumped into her education is enough or would be more then enough for me.
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formergr
12/18/08

@Final: "lucky sperm club" is an awesome expression I'm going to have to somehow work into my daily vernacular now. And it makes me think Warren would be fun to kick back and have beer with (and you know he'll drink beer with his daily lunch burger, not scotch!).
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Grim Reaper of the Forest
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
Why was she in the documentary to begin with and why is she being interviewed for articles now? Maybe I'm old school but trashing your family in public is going to have some predictable repercussions.
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Lazy Line Painter Jane
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
Warren Buffet has $58 billion. He could certainly afford to spare some (even like $100,000) in the interest of bettering the life of someone who has been a member of his family because that is a good thing to do. Not because he considers her a granddaughter, but because he knows how hard it will be on her that he does NOT consider her one.

That being said, (from the MC article), Nicole dresses like a hippie and I bet she is totally insufferable in person.
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brendastarlet is on it
12/18/08

@Lazy Line Painter Jane: Mr. Buffett has made it very clear that none of the Buffett kids are getting any of his money. It is all going to charity. (The late Mrs. Buffett was well off and has taken care of the Buffett kids.) If his own immediate descendents are not getting cash -- and knew from birth they were not getting cash -- there's no reason for this girl to get some.
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Jamie Sommers
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
"The first thing most people think of when they hear my last name is money," she laughs.

Huh. That's interesting. And probably reflective of her choice of company more than anything else.

The first thing I think of when I hear the name Buffett is Margaritaville.
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BlondeGrlz
12/18/08

@Jamie Sommers: I still get the Buffetts confused. Wait, you mean the billionaire or the son of a son of a sailor?
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funnyface
12/18/08

@BlondeGrlz is having a BlondeBoyz!: Or Phoebe.
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sparklytoesfairydustbutt
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
Would we be hating on her like this if she were a dude? I have to wonder. I can't recall seeing posts like this one on any dudes. Just a thought.
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formergr
12/18/08

@sparklytoesfairydustbutt: Well I haven't heard of any of Warren Buffett or another heir's grand*sons* complaining that he hasn't done enough for them, so how in the world can you call the hating on her sexist? I just haven't heard of all these comparable stories that Jez could have covered but chose not to??
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victoriasauce
12/18/08

@sparklytoesfairydustbutt: Yes, I definitely would. Perhaps, even more so. Just to be honest.

This has nothing to do with her being female. At all.
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Penny Farthing
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
If she's self-employed and pays the appropriate taxes, there's a whole lot she can't afford besides cable and health insurance.
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Grim Reaper of the Forest
12/18/08

$40K with extra income on the side is a nice salary in my non-profit world. And I'm 31. Self-insuring can be expensive, but she sure as hell should be able to afford cable if she wants it.
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victoriasauce
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
I don't sorry for her. Eh. The way he treated her is way harsh, but she has received more than most of us get. Her college was paid for and the article said Buffet did that for all the kids. Which is a LOT to do for the fam.

She "only" makes 40k a year, but can't afford cable? I call BS. She is either lying or has terrible spending habits. And, yes, living in an expensive city when you can't afford it is a terrible spending habit.

Plus, I read her paintings fetch up to 8k apiece for her last name alone. Anyone think, perhaps, we're not getting the whole story here? He pays 100k for her college, yet she continued to ask for more. Maybe she tried to take advantage of the situation then turned around and bad mouthed the family when she didn't get her way.
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Grim Reaper of the Forest
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
It does sound like she was only part of the Buffet family for three years. But if he was acting as her grandfather for many years after the divorce, I'm sure being disowned would be painful.
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Wit is periodically disensouled
12/18/08

@treecut...Grim Reaper of the forest: My math says that her parents were married for more like 13 years when they divorced. So from the age of 4 to 17 at the very least she was 'part of the family.' Those are pretty formative years. She refers to her adoptive father as her father, so I'd argue that she's never really left the family.

Painful, to be sure.
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Grim Reaper of the Forest
12/18/08

@Wit: Whoops, he got remarried 3 years after the divorce. He didn't divorce her three years after marrying. So, yeah, that sucks.
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flaxen_vixen
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
I think she totally stepped over the line. She's how old and should be consulted on how one of America's greatest self-made men should spend and invest his money?!?! Fer Pete's sakes!

Also, I have a lot of issues with inherited money...those that are going to inherit forget that IT'S NOT YOUR MONEY! You didn't have to work for it, it's a lucky happenstance and you are NOT ENTITLED TO IT AND HAVE NO SAY OVER IT unless it is specifically written out in the will.

The letter was totes harsh, but don't trample the family name and then expect to be rewarded. Duh.
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vulcanized
12/18/08

@flaxen_vixen: Agreed. I had my education paid for and am still helped out by my parents on my insurance. But part of having someone help you pay for that is that you be grateful for what you have been given, not resentful of what you haven't. Sure, my family could be giving me loads more money, but that isn't the point. That's THEIR money and they earned it. They gave me the tools to make my own money and I'm a better person for it. You don't bite the hand that feeds and not expect to get smacked on the nose.
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BlondeGrlz
12/18/08

@flaxen_vixen: My aunt is face the hard truths about inheritance right now. She was an "artist" all her life and lived with her parents until they had to go into assisted living/nursing homes. Now all their money has been spent on end-of-life care and Auntie is learning that just because they used to be well off doesn't mean she'll see a dime of that money. As a grandkid, I'll probably inherit a nice piece of jewelry - and I'm totally fine with that.
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gold_gato
12/18/08

In reply to Warren Buffett's Granddaughter Feels Bad About Her Check
I gotta say, being told that because you're adopted you're not "really" apart of the family would give me more issues than any part of my granddad's money would.
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