[lbo-talk] My Earth

knowknot at mindspring.com knowknot at mindspring.com
Thu Feb 21 15:06:50 PST 2008


> I thought Warren Buffett didn't believe in inherited

> wealth, period. That's what I saw him say in an

> interview (60 Minutes?) some years ago. He

> said he wasn't leaving jack to his kids, just paying

> for their college.

He did not say that in that interview or, apparently (you can look it up), in the numerous like others he was giving at the time. The substance of what he said instead was that he did not disagree with the interviewers' characterization that he was leaving "most" of his (then said to be +/- $1.5-billion) to charity (mostly via his arrangements with Gates' foundation) and/but one need not be concerned about the economic well-being of his children because he had provided and would provide, if not "great wealth" to them, what in discussions with them they all agreed would be "reasonable" sums.



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