Warren Buffett, famous for his investment savvy and for being one of the richest men on earth, made headlines for cutting ties with his granddaughter, Nicole Buffett. This story shows that even billionaires have family drama.
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Nicole is the adopted daughter of Warren’s son, Peter. When she was 4, her mother married Peter. In a 2008 Marie Claire article titled The Billionaire’s Black Sheep, Nicole shared exactly what it felt like to be disowned by her billionaire grandfather.
Growing up, she spent holidays and breaks with her grandfather, enjoying some of the perks of the Buffett lifestyle. She remembers Warren giving her a $100 bill for Christmas when she was just five and giving her a private tour of the See’s Candies factory he owned. The family would vacation at Warren’s place in Laguna Beach twice a year.
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Nicole shares Buffett did pay the six-figure tuition for her art school, but he had a strict education-only policy regarding money. She said she once asked him to buy her a futon for her off-campus apartment and his secretary responded, “You know what the rules are: school expenses only.”
Things took a turn in 2006 when Nicole appeared in a documentary called The One Percent, which explored the lives of the ultrawealthy. Warren wasn’t pleased. According to Reuters, she stated: “My grandfather is a very private man and I decided to share what it’s like to be his granddaughter and it created a huge estrangement from him to the extent that he disowned my twin sister and myself.”
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He reportedly sent Nicole a letter that was direct and cutting. “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 wrote, according to Page Six. To clarify, he signed it “Warren” instead of “Grandpa.”
Nicole had also publicly discussed the family’s wealth on shows like Oprah, which didn’t sit well with Warren. He’s always been vocal about giving his fortune to charity rather than passing it down to family.
For Nicole, the fallout was real. By 2008, she lived on $40,000 a year without cable TV and health insurance. It’s far from what most people expect when they hear the Buffett name. Nicole said, “The first thing most people think of when they hear my last name is money.”
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Forbes named Warren Buffett one of the most generous philanthropists of 2024. He has given away $56.7 billion in his lifetime, focusing on health and poverty alleviation.
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Despite being cut off from Buffett, Nicole has found success in NFTs. Her “Spirit Coins” series, featuring abstract mandalas, has gained popularity in digital art. Nicole blends her traditional art background with new technology to reach a broader audience, carving out her niche.
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This article ‘I Have Not Emotionally Or Legally Adopted You’: Warren Buffett Cut Off His Granddaughter And She Couldn’t Afford Cable Or Health Insurance originally appeared on Benzinga.com
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