Nadine, I haven't read the Buffett biography you reference, but if it gave you the impression that Buffet has not extravagantly provisioned his son from his vast wealth, then it is self-serving false propaganda:
Does Mr. Buffett think that New York Times readers have already forgotten that September 3, 2000, article in the Times business section, a profile of the billionaire's eldest son, Howard Buffett? "As the eldest son of the Oracle of Omaha, Howard stands to become the next chairman of Berkshire Hathaway, his father's holding company-turned-gold mine," the Times reported back in September. The Times added that if Warren Buffett "were hit by a car tomorrow, he said, his chairmanship would pass to Howard."
So, on the one hand, Mr. Buffett proclaims that as a matter of national policy, there should be a society "in which success is based on merit rather than inheritance." And he says that choosing Olympic athletes by choosing eldest sons is "absolute folly." Yet he himself chooses his eldest son to succeed him as chairman of the venture that is probably most important to him personally, Berkshire Hathaway.
smartertimes.com |
