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Warren Buffett's Daughter Asked Him For A $41,000 Loan To Remodel Her Kitchen, But The Billionaire Told Her: 'Go To The Bank Like Everyone Else'

Chock Full o Nuts said:

Some tough love right there! Come on Pops!:ROFLMAO:

But good on him to instill 'taking care of things yourself' even when it's chump change to him.
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On the other hand the child that was handed millions from pops turned into one of the worst business people in the history of business losing hundreds of millions of dollars in various business 'ventures/grifts'. To top that off, he owes hundreds of millions because he can't control himself.
 
I recall Buffett when Buffet signed up with Gates to give most of his fortune away saying that his kids will have more than enough to live well but not well enough to afford not to work and be thrifty.
 
Callen said:
I recall Buffett when Buffet signed up with Gates to give most of his fortune away saying that his kids will have more than enough to live well but not well enough to afford not to work and be thrifty.
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Buffet and Gates founded The Giving Pedge.

But Buffett's refusal to help his daughter out seems a bit unkind to me.
 
Allan said:
Buffet and Gates founded The Giving Pedge.

But Buffett's refusal to help his daughter out seems a bit unkind to me.
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Maybe she asks for that sort of thing for non-essentials. Or maybe she hasn't paid him back.
 
Isn't $41,000 for a kitchen remodel a bit excessive? "Go get a loan at a bank" is just telling her in a nice way he doesn't approve.
 
Allan said:
Buffet and Gates founded The Giving Pedge.

But Buffett's refusal to help his daughter out seems a bit unkind to me.
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According to the article, the loan story is from several years back, at least before 2011.

In her view, Warren's careful approach to money wasn't something to resent. Looking back, Susie felt like her dad's principles shaped their lives in the right way. Even when she didn't get the loan, she reflected, "I basically think he’s been right."

In a 2017 interview with Business Insider, Susie clarified that she agrees with her father's financial philosophy. "I actually agree with his philosophy of not dumping a bunch of money on your kids. And, by the way, my dad gets a bad rap for that," she said. "He has been much more generous than people are aware. I feel extremely grateful to have the parents I had and for what they've given us. But certainly, he's not going to leave us $50 billion and shouldn't. It would be crazy to do anything like that."
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dmpi said:
Isn't $41,000 for a kitchen remodel a bit excessive? "Go get a loan at a bank" is just telling her in a nice way he doesn't approve.
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Being one that has been in on renovations for years, 41k might buy the new cabinets for many!

Then add the 15k Wolf range, the 17k Thermador fridge, the.....
 
Chock Full o Nuts said:
Being one that has been in on renovations for years, 41k might buy the new cabinets for many!

Then add the 15k Wolf range, the 17k Thermador fridge, the.....
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$41,000 in 2011 is $57,300 in today's dollars. In my book it's excessive... but that's just me.
 
Buffett can certainly do as he pleases with his vast wealth. It’s his right. But as she states in the story, his daughter asked for a loan, not a handout.

Good grief, if my daughter came to me and asked me for a loan that would amount to something easy for me to swing, I’d do what I could do, as long as it was understood that I wasn’t going to be her bank moving forward.

We’re all on this earth for a short time, and old Warren’s time is probably a heck of a lot shorter than most at age 94. If one is leaving any children behind, if they are good, productive citizens and good family members, then it’s natural to give them a better world than what you had, in my opinion.

That doesn’t mean he should leave his three children millions or billions. But he can’t take it with him, and if it was me, my family would take precedence over others.
 
Grogu said:
Buffett can certainly do as he pleases with his vast wealth. It’s his right. But as she states in the story, his daughter asked for a loan, not a handout.

Good grief, if my daughter came to me and asked me for a loan that would amount to something easy for me to swing, I’d do what I could do
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Are you gonna evict her if she doesn't pay?
 
Cosmo said:
Are you gonna evict her if she doesn't pay?
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Most people stop to think, for just a few seconds, before they post a reply, even if it’s a wisecrack. Thanks for proving that there are still people here who don’t.

My daughter is an adult who moved out years ago and has her own townhouse complete with a mortgage. She’s been financially independent since college. The fact this possibility never entered your mind tells me all I need to know about the value of any of your posts. That would be zero.
 
bongsaway said:
On the other hand the child that was handed millions from pops turned into one of the worst business people in the history of business losing hundreds of millions of dollars in various business 'ventures/grifts'. To top that off, he owes hundreds of millions because he can't control himself.
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Donald Trump is Warren Buffet's daughter?

I never knew that.
 
Grogu said:
Most people stop to think, for just a few seconds, before they post a reply, even if it’s a wisecrack. Thanks for proving that there are still people here who don’t.

My daughter is an adult who moved out years ago and has her own townhouse complete with a mortgage. She’s been financially independent since college. The fact this possibility never entered your mind tells me all I need to know about the value of any of your posts. That would be zero.
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Except the topic isn't your daughter, but Buffet's. :rolleyes:
 
Wow, another greedy stingy billionaire....imagine that? Guess what Warren? You can't take ANY of that money with you when you go! :LOL:
 
dmpi said:
$41,000 in 2011 is $57,300 in today's dollars. In my book it's excessive... but that's just me.
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Oh, it's excessive in my book as well! :ROFLMAO:
But there is a constant flow of people that will dunk 100k on a kitchen of which they will never see the full investment back on.

But I don't mind.. long.as I get my cut.😁
 
Jessie C said:
Wow, another greedy stingy billionaire....imagine that? Guess what Warren? You can't take ANY of that money with you when you go! :LOL:
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Well, in his defense, he is giving plenty away.
I think it's more not wanting kids with that silver spoon. That's a good thing.

Two personal notes. Have one old friend who knew he was getting grandma's money, so he never really worked.
Ran into a few years back, and was nose in the air, "I'm retired now.." (in 40s)
Hah! You have to had worked to 'retire'. You got granny's cash. Don't hand me that shit.

Other guys wife's father was a big wig at P&G. They new money.was coming, but not until they hit 50. Now they do what they want. But he still works as a cabinet maker to stay busy as he sees fit.
 
Jessie C said:
Wow, another greedy stingy billionaire....imagine that? Guess what Warren? You can't take ANY of that money with you when you go! :LOL:
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Or he's just teaching his daughter to be independent and fiscally responsible. Giving your kids money whenever they ask probably isn't the best approach to parenting. But some folks don't know much about parenting I guess.
 
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