Wednesday, December 17, 2008

Nicole Buffett Disowned by Grandfather Warren Buffett

Nicole Buffett Disowned by Grandfather Warren Buffett
Nicole Buffett is a 32 year old painter who lives in Berkeley, California. The petite bohemian artist has a name that resonates with people around the globe but the money it infers is not forthcoming. In fact, her grandfather Warren Buffett disowned the young woman two years ago.Nicole was interviewed for the new issue of Marie Claire in which she shares details of her entry into the Buffett family and the rift that has torn them apart. She was four years old when her mother married Warren Buffett’s son Peter Buffett. He adopted Nicole and her twin sister.

Warren’s wife Susan Buffett was especially close to her adopted granddaughters. An artist herself, she fostered Nicole’s talent and was an early buyer of her granddaughter’s art. Susan died in 2004 and named the young woman in her will, calling her “my adored grandchild”.Things went south for Nicole in 2006, when she agreed to appear in The One Percent, a documentary by Johnson & Johnson heir Jamie Johnson. His mission was to focus on the gap between rich and poor in America.

Nicole, with the blessing of her father, provided the following sound bites that forever changed her relationship with her grandfather. “I’ve been very blessed to have my education taken care of, and I have had my living expenses taken care of while I’m in school.” When asked how her grandfather might react to her interview, she offered: “I definitely fear judgment. Money is the spoke in my grandfather’s wheel of life.”

It wasn’t long before she received a letter from the billionaire, in which he cautioned her about the pitfalls of carrying the Buffett name, saying “People will react to you based on that ‘fact’ rather than who you are or what you have accomplished. 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.” He signed the letter Warren. Just a year earlier she said she received a card from him that was signed ‘Grandpa’.


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