Warren Buffett disowns his granddaughter

Posted by John Carney, Sep 07, 2006, 12:05pm

NicoleBuffett.jpgWarren Buffett may not want to pass his fortune on to his family when he shuffles off his mortal coil and greets whatever fate awaits him in the afterlife, but while he’s alive he certainly wants to keep a tight reign on the lives of his family members. At least, that’s what his recent declaration disowning his granddaughter seems to imply.

As Page Six reports, in a letter to San Francisco artist Nicole Buffett, Warren wrote, "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."

When asked for comment, a Warren representative went even harsher.

"Nicole is not Mr. Buffett's granddaughter. She is the daughter of a former daughter-in-law of his who was married to his son for only about 10 years."

So what got Nicole voted off Buffett Island? She participated in a follow-up to Jamie Johnson’s “Born Rich” about the lives of young people raised in wealthy families, and then went on Oprah to talk about it.

But Warren’s wrong, at least legally. Nobody chooses their parents but you also don’t get to choose your grandchildren. When your kids adopt, those adoptees become part of your family and potential heirs. When she was quite young, her mother married Warren Buffett’s son Peter, and Peter formally adopted her. If Warren, his wife and his immediate children died without a valid will, the estate laws of most states would give her whatever part of his fortune remained.

Buffet to Kin: You're Fired! [Page Six; hattip: WallStFolly]

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Comments

Posted by Shane, Sep 07, 2006 12:44PM

She should have used some of the money for braces and to wash her hair. Good thing she's an artist because she's no masterpiece

Posted by John Carney, Sep 07, 2006 1:21PM

Really? We ... uhm, okay third person sounds weird here...so... I think she's a cutie. Her smile is really nice.

Posted by Davis, Sep 07, 2006 2:41PM

C'mon! She's not bad looking. Buffett comes out of this thing looking like a real jerk...

Posted by Shane, Sep 07, 2006 3:10PM

Ok, I'll give you the good skin thing and I'll take back the ugly thing but the hair has to go. I think Buffet disowned her because of the dreads, not because of anything she said. $200 million dreads

Posted by Davis, Sep 07, 2006 3:21PM

Shane, she lives in San Fransisco... I don't know if they allow anyone to enter The City without sporting at least a bit of the "homeless look"...

Posted by Mike, Sep 07, 2006 3:34PM

Um, this has appeared to my knowledge nowhere but on Page Six of the NY Post. Doesn't it seem at least a little possible to anyone here but me that, given the source, the story is at the very least a bit skewed?

Posted by me, Sep 08, 2006 7:38PM

what a gay story

Posted by me, Sep 08, 2006 7:40PM

this is what happens when anyone and their dog can create a webpage

Posted by karen, Sep 09, 2006 2:28PM

Adoption records show that Nicole was adopted when she was 18 years old after her parent's divorce. Anyone looking into what's the real story here?

Posted by M.H., Oct 04, 2006 1:24PM

I knew Nicole and her twin Erica from the time they were in their early teens, watched them grow up, and last saw them at Peter's wedding ten years ago. From what I remember they were close to their grandparents, especially grandmother Susan. Susan and Warren never cared much for their mother Mary, and were pleased when she split -- perhaps they even engineered it to a certain extent. It was not a pretty time. Peter was an outstanding father to his adoptive daughters, whom he always treated as his own; he has no children. They'd get a Christmas present of a few hundred dollars, and never seemed materialistic. I'm sure Nicole and her sister will do fine. The criticism by Grandpa seems quite harsh, but may not be as out of character as one might guess.

Posted by herme, Oct 28, 2006 6:26PM

I saw her on Oprah and I like the way she carries herself. If her personality and compassion for animals, the earth and our universe has the same disposition,
I'd like to meet her.

a fellow artist in So Cal.

Posted by pid, Jan 05, 2007 1:23PM

First of all what wrong with locks not dreads!Dread is what the Britsh felt when they saw when they encountered run awaymaroon slaves in THE West indies.Thats were the term came from2.She is very attractive ,kind and well spoken.Buffet could share some of his fortune with her! She seems like she would do something that would be very positive with it.After all, whats he going to do take it to the grave?

Posted by Royston Vasey, Jan 05, 2007 3:05PM

"Dreadlocks" is the feeling I got as a horny 16-year old schoolboy whenever I tried to sneak into the girls' dormitory.

Posted by Eric, Apr 27, 2007 11:34PM

Nicole is a friend of mine and I think that its good that she has her own style and does not have to fit the mold! And shane I can't belive that you would accually have the nerve to say something about her like that! And I bet that your. Not the best looking lad yourself! :) Its people like you that have to make fun of other people just to make u feel good about urself!


Eric

Posted by Ira Wortham, May 26, 2007 4:56PM

I had the pleasure of meeting Nicole and her twin sister Erica at a little restaurant in Oakland, CA this year. These two young women are no where full of themselves. They are very spiritually grounded, down-to-earth women. Their grandfather does not know what he is missing out on in not taking the opportunity to know them. His life would be very enriched if he takes the time.

ILW - Glad to know them!

Posted by ILW, May 26, 2007 4:56PM

I had the pleasure of meeting Nicole and her twin sister Erica at a little restaurant in Oakland, CA this year. These two young women are no where full of themselves. They are very spiritually grounded, down-to-earth women. Their grandfather does not know what he is missing out on in not taking the opportunity to know them. His life would be very enriched if he takes the time.

ILW - Glad to know them!

Posted by ILW, May 26, 2007 4:57PM

I had the pleasure of meeting Nicole and her twin sister Erica at a little restaurant in Oakland, CA this year. These two young women are no where full of themselves. They are very spiritually grounded, down-to-earth women. Their grandfather does not know what he is missing out on in not taking the opportunity to know them. His life would be very enriched if he takes the time.

ILW - Glad to know them!

Posted by Knowledge of Wrong Doing, May 27, 2007 6:49AM

I have knowledge of wrongdoing involving the transfer of Berkshire Hathaway shares from a Buffett to a third party's account. I need to find the person. Please contact me.

Posted by lainie, Jul 23, 2007 9:12PM

Nicole is a good hearted, true person. She was adored by her grandmother and the adoration was mutual. I think Nicole did this movie to show that not everyone is a vapid or shallow as the Paris HIltons of the world.

Warren Buffett is very rich with money but piss poor in heart and soul. Nicole is his son's legally adopted daughter and while the actual papers were not signed until the girls were 18, the girls have always been his daughters in his heart , where it matters.

Warren Buffett is missing out on knowing an extraordinary human being. His loss.

P.S. - @ shane - Nicole is absolutely GORGEOUS - inside and out.

Posted by Person that actually knows about Warren Buffet, Sep 08, 2007 10:13PM

ok wtf is with all this talk about Warren Buffet acting like a jerk and having all that money? He only gives himself 100,000 in salary every year, he doesn't live in a mansion, he drives himself, he is an incredible philanthropist, and he's not going to divide his fortune into inheritances. I think a man like Mr Buffet knows what he's doing and no one in their right minds would smear his reputation as simply as this article tries to do.

Posted by , Sep 09, 2007 10:48PM

"He only gives himself 100,000 in salary every year, he doesn't live in a mansion, he drives himself, ... and he's not going to divide his fortune into inheritances."

In other words, he's a jerk.

Posted by alice lake, Nov 03, 2007 3:27PM

Knowledge of wrong doing. I may be the person that was the victim of this transfer please contact me.

Posted by J$, Nov 04, 2007 8:01AM

One of the most effective ways to spread the wealth is spending - eg. on a driver.

Nicole is definitely a hottie.

Posted by natalia rad, Dec 29, 2007 12:02AM

Nicole is one of the warmest, most altruistic and evolved people I have ever met.

Posted by guest, Feb 20, 2008 11:12AM

We spend our lives teaching our kids that money isn't everything and family is everything and he does something like this. We all need to remember when we were 20 something and the choices we made and now that we are older what we would do differently. It is not about her hair or teeth it is about who she is and personally her grandfather should appreciate the fact that he has grandchildren and be thankful for that blessing because they can be gone tomorrow. Life if to short!

Posted by guest, Feb 25, 2008 5:45PM

you guys are idiots. so many comments about warrent buffet being selfish.

do some homework. he is not giving his wealth to his family, nor is he keeping it.

Posted by guest, Mar 11, 2008 2:30PM

I represent Nicole as an artist and do very well with her work -not becuase of any relation to Warren Buffett but becuase she is a gifted young abstract expressionist. I encourage you to view her and decide for youself by visiting: http://lowegallery.com/artists/index-scrollbar.php?artist=nicole-buffett

If interesting in purchasing Nicole's work, please email me bill@lowegallery.com.

Posted by guest, Mar 24, 2008 10:20AM

So, who is her biological father?

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