Very few people know the richest man on earth, billionaire Warren Buffett, more than his daughter, Susan Buffett.She takes part in a portrait of thefinancial genius, HBO's "Becoming Warren Buffett," which premieres Monday at 10 p.m.In the documentary, Susan, who was named after her mother and goes by Susie, provides a lot of intimate details about her parents,growing up in the family's Omaha home, and what drove her father to give away a large chunk of his fortune to charitable causes, including herchildren's charity, the Sherwood Foundation.But despite Warren's reputation for being frugal and highly opinionated about how one invests money, Susie said finances were rarely spoken about in the Buffett home. In fact, shehad no idea how rich her father was untilher late-teen years."My parents never talked about money. They didnt fight about it at all, either," Susie recently told Business Insider. "It was nonexistent, really, except that my brothers and I got a weekly allowance. We never got the lessons I think some kids getyou know, you can spend this much and you should save the nickel or whatever. None of that went on."In fact, Susie said that there are a lot of unique aspects of her father thatpeople often get wrong.Here are five misconceptions about Warren Buffett, according to his daughter:SEE ALSO:The 'Going Clear' director is making a documentary about ousted Fox News boss Roger AilesDON'T MISS:The 6 biggest things that are shaking up the TV industry right nowWarren Buffett wasn't as stingy about donating to charity in the early years as his critics said.Prior to his large gift to several foundations and the Billand Melinda Gates Foundation last year, Warren was ridiculed by critics for not giving money to charity. Susie believes this is a side effect of her father's belief in investing for the long haul."His theory, of course, was that he was good at making money and there would be a lot more to give away if he could keep making it," she said.But she said that her parents were giving back to the community for decades. They just weren't tooting their own horn."My mother was quietly giving a lot away," she said. "She started a scholarship program, actually, when I was in high school. It was only a couple kids a year, but she started as soon as there was some money there to give away. Neither of them have ever been the type to look for any recognition when they were doing philanthropic things. And it was certainly my mother doing it more than my dad at that point. And so I think there was a little more happening than people realize."Warren Buffett is more generous with his children than people give him credit for."I actually agree with his philosophy of not dumping a bunch of money on your kids. And, by the way, my dad gets a bad rap for that," Susie told us. "He has been much more generous than people are aware. I feel extremely grateful to have the parents I had and for what theyve given us. But certainly, hes not going to leave us $50 billion and shouldnt. It would be crazy to do anything like that."Warren's decision in 2016 to give much of his fortune away to charity partly benefits foundations created by his children.While Susan Buffett is credited with influencing her husband's departure from the Republican Party, she grew up Republican, as well."My mother, by the way, grew up Republican, too. And nobody knows that. Thats a funny thing," Susie told us.At one point, Susie recalled, her maternal grandfather ran her paternal grandfather Howard Buffet's election campaign. "The only time my grandpa Buffett lost, actually," she said. In all, Howardserved four terms in the US Congress.See the rest of the story at Business Insider
Click here to read full news..
