He has never lavished his money on his children. Indeed, his daughter Susan once asked him for a loan of US$30,000 for a kitchen extension. He turned her down. He has always impressed upon his three children not to expect to inherit his wealth. He has pledged to give away almost all his fortune of roughly US$47 billion, most of it through Melinda and Bill Gates' Foundation.
Do you know what one Class A Hathaway Berkshire share is trading at today? A whopping US$147,125! OMG! No wonder early shareholders are now billionaires many times over.
Every year in May shareholders from all over the world make their pilgrimage to the holy shrine that is the meeting venue in Omaha, and they listen to every word uttered by the Guru and Oracle of Omaha, and by his vice-chairman Charlie Munger. It is a love-fest, and the shareholders have every reason to revere Buffett. He made them rich, didn't he? This year's annual shareholders' meeting is scheduled for 4 May. Know anyone going?