Warren Buffett once described a political crisis as a weapon of mass destruction, warning that while the country avoided lasting damage, it came dangerously close. That warning came from the same man who built one of the largest fortunes in history, yet still lives in the Omaha house he bought in 1958 for $31,500. Behind that legendary investing career, however, is a family story rarely told in full. He and his late wife Susan raised three children, Susan, Howard, and Peter, in a home where wealth was deliberately downplayed and character was emphasized.
As Buffett famously described his approach to parenting: “I want to give my kids enough so they can do anything, but not so much that they can do nothing. ”
Warren Buffett was born in Omaha, Nebraska, in 1930, the son of stockbroker and later congressman Howard Buffett and his wife Leila. From an early age, he was absorbed in numbers, buying six-packs of Coca-Cola at age six and reselling them at a profit. He made his first stock purchase at 11, buying three shares of City Service Preferred, a sale he later said taught him the importance of patience after the stock tripled in value.
He studied economics at the University of Nebraska and Columbia Business School, later adopting the value-investing principles of Benjamin Graham, which shaped his lifelong approach to markets. In 1952, Buffett married Susan Thompson, a singer and social activist. The couple chose a modest life in Omaha and raised their three children with an emphasis on empathy, independence, and a grounded view of success. Buffett often told them, “It’s better to be loved than to be rich.
” Though their marriage was unconventional, with Susan moving to San Francisco in the 1970s while Warren stayed in Omaha, the couple remained emotionally close until her death in 2004. He later married Astrid Menks, whom Susan had introduced him to years before, in a private 2006 ceremony at his Omaha home. The oldest child, Susan Alice Buffett, was born in 1953. She grew up in a household where her father was present, often reading, but always available for dinner and bedtime moments.
She recalls that talking to him required concise communication. “You have to talk in sound bites,” she said. She credits her mother for understanding early that Warren’s work required support and faith, calling her “the reason Berkshire Hathaway is Berkshire Hathaway. ”
Susan Alice studied at the University of Nebraska Lincoln and worked in education before turning to full-time philanthropy.
She founded and chairs the Sherwood Foundation, which focuses on public education and reducing poverty in Nebraska, and leads the Susan Thompson Buffett Foundation, which funds college scholarships and global humanitarian programs. She was married to Alan Greenberg and has two children, but has kept her personal life largely private. She continues to live in Omaha and maintains a low public profile while leading major charitable efforts. “They taught us to care about what money could do to make things better for someone else,” she has said of her parents.
Howard Graham Buffett, born on December 16, 1954, was named after his grandfather, the congressman. Unlike his father, Howard was drawn to the land. He studied at Augustana College in Illinois and worked in farming and agriculture rather than finance, though he served on the boards of companies including Coca-Cola and Berkshire Hathaway. He established the Howard G.
Buffett Foundation, which works in over 100 countries to fight hunger, improve food security, and support sustainable farming. He operates farms in Illinois and is known for his hands-on approach. He also served as a volunteer sheriff’s deputy and has written several books, including “40 Chances,” which he co-wrote with his son Howard Warren Buffett, and which uses the average number of growing seasons in a farmer’s life as a metaphor for making the most of opportunity. Howard has spoken candidly about growing up in his father’s shadow.
“You can’t escape the shadow,” he said, “but you can choose what you do within it. ” He lives in Decatur, Illinois, focusing on his farms and foundation. Warren Buffett once said of his son’s work, “He’s doing more good with a plow than I ever could with a portfolio. ”
The youngest child, Peter Andrew Buffett, was born on May 4, 1958.
Drawn to music from an early age, he moved to California after high school to pursue a composing career, without an inheritance to rely on. He wrote music for MTV, contributed to the score for “Dances with Wolves,” which won an Academy Award, and released solo albums blending ambient, classical, and world music. In 2010, he published the memoir “Life Is What You Make It. ” He has also become an advocate for social justice, co-chairing the NoVo Foundation with his wife Jennifer Buffett, which supports girls’ and women’s empowerment, education, and emotional intelligence programs worldwide.
While the paths of the three Buffett children differ, one in education, one in agriculture, one in music, all have continued their father’s philosophy of simplicity and giving. Buffett pledged in 2006 to donate more than 99% of his wealth to charity, directing much of it to the Gates Foundation and to the foundations led by his three children. In 2010, he and Bill and Melinda Gates launched the Giving Pledge, which encourages billionaires to commit at least half their wealth to philanthropy. Hundreds have since joined.
Now well into his 90s, Buffett still leads Berkshire Hathaway from a modest office in Omaha, drives himself to work, and enjoys simple routines like McDonald’s breakfasts and Cherry Coke. He still lives in the same house he bought in 1958. He has explained his commitment to giving by noting that those in the luckiest 1% of humanity owe it to the rest to think about the other 99%. When asked what he wants to be remembered for, he does not mention wealth.
“The measure of success is not whether you have a lot of money, but whether the people you care about love you,” he said.