

Warren Buffett, the third-
wealthiest person in the world according to Forbes, has said that he doesn’t believe in dynastic wealth, calling those who grew up rich “members of the lucky sperm club.”

He has pledged 85 percent of his $44 billion or so to charity—
most of it
to
the Gates Foundation. "A very rich person," he said, "should leave
his kids enough to do anything, but not enough to do nothing."


How do his children feel about that? “My dad is one of the most honest, principled, good guys I know,'' his daughter Susan
told Fortune
in 1986. ''And I basically agree with him. But it's sort of strange
when you know most parents want to buy things for their kids and all you
need is a small sum of money—to fix up the kitchen, not to go to the
beach for six months. He won't give it to us on principle. All my life
my father has been teaching us. Well, I feel I've learned the lesson. At
a certain point you can stop.”


Here Susan talks with her father at the
Berkshire Hathaway annual shareholders meeting in
Omaha, Neb., on May 5.
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