Thursday, September 22, 2011

The "Other" Buffett Rule


Howard W Buffett., a 27-year-old who probably can't buy alcohol without showing an ID, is the son of Howard G. Buffett, a philanthropist. According to NY Magazine Grandpa Warren Buffett, with a net worth of about $39 billion, is the world's third-wealthiest human. That Howard the Younger hasn't developed into a Midwestern Paris Hilton owes a lot to his grandfather's refusal to coddle his progeny — an entirely different kind of Buffett Rule. "I want to give my kids just enough so that they would feel that they could do anything," Warren Buffet once said, "but not so much that they would feel like doing nothing."

Howard W. seems to have interpreted his grandfather's advice to mean "do as much as you possibly can." So far, in his brief adult life, he has worked on the Obama presidential campaign and landed a job on the transition team to set up the Office of Social Innovation and Civic Participation. After he left the White House last summer he took a gig overseeing the Department of Defense's agricultural development efforts in Iraq and Afghanistan. And starting last month, he became the executive director of his father's philanthropic foundation, which focuses on hunger issues and economic development (hence the soil). He has said he might run for political office "at some point."

Read more at http://nymag.com/daily/intel/2011/09/howard_buffett_grandson_warren_buffett.html

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