Billionaire’s granddaughter is starving artist

Nicole Buffett is the granddaughter of Warren Buffett, the richest man in the world. (Her mother was married at one point to the billionaire’s son.) Marie Claire reports that after Nicole appeared in a documentary about rich kids without giving her grandfather the heads up, he disowned her. Now she must get by on $40,000 a year; no more handouts from Pappy.
The perceived sense of entitlement and Nicole’s self-appointed role as
family spokesperson prompted Buffett to tell Peter that he’d renounce
her. A month later, the mega-billionaire mailed Nicole a letter in
which he cautioned her about the pitfalls of the Buffett name: “People
will react to you based on that ‘fact’ rather than who you are or what
you have accomplished.” He punctuated the letter by declaring, “I have
not emotionally or legally adopted you as a grandchild, nor have the
rest of my family adopted you as a niece or a cousin.” Nicole was
devastated. “He signed the letter ‘Warren,'” she says. “I have a card
from him just a year earlier that’s signed ‘Grandpa.'”

You can read the whole article here. What’s your take on this “starving” artist?

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3 thoughts on “Billionaire’s granddaughter is starving artist

  1. SteveCeo

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  2. jcgippy

    Although I think Buffet has been generous outside of his family, he wants his family to realize how difficult life can be. Suppose he just handed them lots of money and they blew it? There’s lessons to be learned in life and how to handle money is one of them. I’m a professional artist who in earlier years had no one to pay my college tuition; raised two daughters almost from birth alone; put myself through college and worked full-time with my children in private schools. I now live on less than $15,000 a year in my senior years. I’ve learned that money one works for brings great experiences and satisfaction. I feel for her on the emotional side, but not monetary. Using his name to sell her artwork for $8,000 and probably more with an income of $40,000 at her age with her energy, she can do more and probably exceed his value monetarily some day. I believe that is the challenge he has given her and she should be grateful. JC.gippy

  3. Alan G

    I certainly do think she is a distant cry from being a "starving" artist.

    Other than that, it’s more than difficult to express opinions on family matters of this nature – especially with regard to a family of this stature and wealth. Not to imply a sense of intimidation on the matter, but rather a real lack of understanding on the personalities of the subjects in question along with the intimate facts. My gut feeling is to side to a large degree with "grandpa" however on this one.

    Trying to put myself in the shoes of Mr. Buffett, any member of my family who would sport a presumptuous air or to any degree take on the role of a self-appointed family spokes person, would be on extremely thin ice with me. The wealth and fame may be exhilarating to one’s being – but there is a price that has to be paid! I am almost certain that she knew the rules ‘grandpa’ had set down with regard to the family name and fortune, so she soloed at her own risk……and crashed!

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