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Meet the Buffetts

posted by Susie Gharib, Anchor at 12:25 PM on 04/28/08

Photo of Susie Gharib.
So what did I think of Warren Buffett’s kids? Here are some impressions of Susie, Howard, and Peter Buffett.

They are normal.
They are remarkably down to earth, considering their father is the richest man in the world with a net worth of $62 billion. When Howard greeted me at his home he was wearing shabby chinos, a khaki work shirt and muddy construction boots. He drove me to his farm in an old pick up truck. He is so “real” and it was refreshing to see that. When I asked Howard the size of the staff working on his 850-acre farm, his answer was “none”. He plants and harvests the corn and soybeans by himself. Sometimes he has a helper or his son gives him a hand. He can afford hiring a team of workers, but he chooses to do it this way, because he enjoys it. And I think it’s also part of his Warren Buffett DNA—keeping things simple and low budget.

It was fun talking with the Buffett kids. They are friendly, easy going, and straightforward—just like Warren. They’re not shy about telling stories, especially stories about their father and his frugal habits. I was pleasantly surprised by their candor and warmth.

They are modest.
Like their self-effacing father, Susie, Howard, and Peter seem little affected by money. As they tell it, it was no big deal that their father donated most of his money--$37 billion—to the Bill and Melinda Gates Foundation. They thought it made a lot of sense. Honestly. They’re proud of what their father is doing with his money. They told me they didn’t grow up with silver spoons and they don’t live that way today. No fancy cars, no big houses, no expensive suits. They don’t show off—even though they’re good friends with people like Bono, for example. All three have charitable foundations financed by their father—a billion dollars apiece—but they run them in a low-key way. The offices are furnished simply and have small staffs—classic Warren Buffett. The only artwork in Susie’s foundation, for example, is large color photos of exotic wildlife that her brother Howard photographed in Africa.

But one thing surprised me about the Buffett kids: none of them graduated from college. Susie went to the University of California at Irvine, but dropped out with just a few courses remaining. Howard attended three colleges, Augustana College, Chapman College and the University of California at Irvine, but didn’t graduate from any of them. And Peter was at Stanford for two years. Clearly, if the withholding of inheritance was supposed to fire academic drive, it backfired in this case.

They are well-traveled.
When the Buffett kids agreed to do interviews with me it was tricky finding time to meet with them. Howard was in South Africa and on his way to Kenya; Susie was en route to Dublin; and Peter was in California. Howard said he has traveled to 90 countries, mostly in the Third World and his goal is to hit 100. They fly commercial and coach. (But Howard volunteered, almost apologetically, that he flies first class on trips to Africa, because it’s a 28-hour flight.) So even though Howard lives in Decatur, Illinois and Susie lives in Omaha, Nebraska they are anything but small town folks.

They are a close-knit family.
This is not a family that fights over money or anything else it seems. They are in close contact —by phone and by email—with each other and with their father too. I was surprised, for example, when Warren Buffett told me (I bumped in to him in Omaha when I was interviewing Susie) that he talked with Howard right after the interview in Decatur. From what he revealed, I could tell father and son had a pretty long conversation about it.

Susie is the point person for organizing family events. When her father remarried two years ago, for example, the ceremony was held at Susie’s house. In separate conversations with the Buffett kids, they all seemed excited about the upcoming family get-together to celebrate Peter’s 50th birthday. It’ll be in Omaha on the same weekend as the Berkshire Hathaway shareholders meeting. The party will be at Susie’s house, of course.

Susie Gharib's "Meet the Buffetts" series airs Tuesday, April 29th through Thursday, May 1st on Nightly Business Report.


6 Comments.
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Its good to see this blog. Which give an off the record impressions of the Buffets.

Good Job Ms.Sussie Gharib

Thank You Susie for the interviews. I admire Warren Buffett and Bill Gates as they inspired me to give my money away. I have my favorite charities to give to and it is better to see your money going to good use while you are still alive and retired.Like children going to summer camp and seniors having a hot lunch. Keep up the good work.Thank you and God Bless.

Thank you, Susie, for such an insightful report on one of America's richest and still so-down-to-earth family. May I suggest to profile more successful families and feature all of them in a special program. We, as parents and grandparents need their perspective and wisdom.

Thank you Susie for the wonderful interviews with the Buffetts. In the late 70's I worked with Susie in Irvine, CA at the HQ of Century 21. She is older but has the same twinkle in her eye and that infectious laugh. What a treat.

Concise and insightful--just like the excellent broadcast programs on NBR.

My thanks to Susie for enhancing my understanding of the economics of our nation as well as the people behind the scenes.

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