BUFFETT TO KIN: YOU'RE FIRED

NY Post ^ | 07 September 2006 | By RICHARD JOHNSON with PAULA FROELICH, CHRIS WILSON and BILL HOFFMANN

[shrinkermd]

September 7, 2006 -- AN infuriated Warren Buffett has renounced one of his granddaughters - telling her she is no longer his relative "legally or emotionally" because she took part in a documentary about the lives of the very rich.

Nicole Buffett, the adopted daughter of Buffett's son Peter and biological daughter of Peter's ex-wife Mary, was featured in Jamie Johnson and Nick Kurzon's documentary, "The One Percent," which debuted at the Tribeca Film Festival this year and is a follow-up to Johnson's "Born Rich."

Enraged that Nicole not only participated in the documentary, but also plugged it on National Public Radio and "Oprah," Buffett wrote Nicole an "angry letter" two weeks ago telling her she was no longer part of his life, a source tells Page Six.

[shield]

Well, she got her college education paid for [along with all upkeep while in college] and was hoping for more monies later. Buffett is not leaving any monies to anyone upon his death [maybe his new wife...but no kids or grandkids]. I don't think it matters whether she's out or not...nothing else was coming to her anyway.

I think Warren Buffett realizes through what he's seen with other ultra rich families...money will ruin kids along with the future generations.

[Ol' Dan Tucker]

I wonder if we'll Stalinize her out of family photos?

The Commissar Vanishes...

[Bon mots]

Wow. He doesn't sound so warm and fuzzy...

My grandfathers never left us much, but my memories of them are exceptionally fond.

[gipper81]

His neice was just actualizing what Democrat Buffet has encouraged.

Buffett's dad, Howard Buffett, was a four-term Republican US congressman. Get the psychological profile?

[Welsh Rabbit]

Buffett's probably screwed up his kids and grandkids since it's obvious that his love for them is extremely conditional.

I have a couple of friends who grew up under those circumstances. They both have major issues in regards to forming intimate relationships.

[jd777]

He gives all his money away and people love him, but if you say one bad word about him, you're dead to him.

[griswold3]

I think the phrase Buffet used in describing his childrens' inheritences is :
I have given them enough money to do something, but not so much as they can do nothing. (paraphrased)

[khnyny]

[I think Warren Buffett realizes through what he's seen with other ultra rich families...money will ruin kids along with the future generations.]

No, he's just a cheap bast*rd.

Money doesn't "ruin" people or families, that's the same as saying you should outlaw firearms because guns "kill people". I would venture to say it's a whole host of other things which can "ruin" people. There's more evidence that poverty ruins people's lives.

[GOP_1900AD]

Now we see the ugly truth. The old dweeb thought he had everyone fooled with his donation. But at the end of the day, he's just another liberal utopian elitist with a black heart and way too much money for someone like that to know how to handle. What a clown.

[shield]

I disagree....I grew up with the power elite kids and all their monies. Their were a very very few of them that made their parents proud. The one's that had great limitations on them and the money are the one's that shine today.

If he's so cheap what does he intend to do with all that money when he dies?

[FastCoyote]

"People with a lot of money get more and more eccentric as they get older. "

I worked for a billionaire for a while, it was pretty bizarre. Old Cyrus had 30 million in petty cash in the stock market he could barely keep track of. I had to rebuild his used E-Machine computer he was so cheap.

[Dinsdale]

When a penny-less bum wastes his money he feels the consequences.

Imagine being 16 and KNOWING that no matter how much money you piss away you will always be 'richer then the queen'.

History tells us it's bad for kids. Gates sees that. Buffet sees that. I see that.

Name one person with such a background that didn't turn out to be an oxygen thief?

I bet this girls parents have enough money to give her a good start as you describe.

[linda_22003]

" what does he intend to do with all that money when he dies?"

Did you somehow miss the big story earlier this summer, that he is giving $31 Billion dollars to the Bill and Melinda Gates Foundation?

[GOP_1900AD]

I think he's a New Ager or possibly something even older and worse than that. No joke.

[Young Scholar]

I agree the money isn't the real issue, but the poster to whom I responded seemed to think it was significant.

But you'd have to understand how galling the idea of talking about the family money is to most people in Buffet's class to see what might have provoked his reaction. And talking about it to anyone is bad enough, but going on Oprah...

Not that it at all justifies such an extreme reaction, though.

[TravisBickle]

No, he's just a cheap bast*rd.

Isn't that the truth!

Whether or not he felt this way, it's an awful thing to say, and then knowing who he is-to say it publicly.

Whatever happened to people keeping things within the family, and not airing dirty laundry? I guess in this day and age, some people have no shame.

[FastCoyote]

"And you know, plenty of penniless bums waste their money, too."

I spent all my money on booze and women. The rest I just wasted!

[khnyny]

You dont' get it - it's all about Warren. Buffett doesn't care about his family, he cares about himself and his "legacy" kind of like a Clinton. Buffett intends to leave his money to liberal foundations with dubious moral standards.

As far as "power elite kids and their monies", please spare me the socialistic class warfare, I'm not buying it. I know plenty of people who came from money and trust me, they're doing just fine.

[Donald Rumsfeld Fan]

"A good man leaves an inheritance to his children's children, but the wealth of the sinner is stored for the righteous." Proverbs 13:22

[DManA]

What set him off is that it blows his carefully crafted image as just plain Warren.

people in Buffet's class