Susan Buffett
Last updatedSusan Buffett | |
|---|---|
 Susan Buffett during an interview with Charlie Rose | |
| Born | Susan Thompson June 15, 1932 |
| Died | July 29, 2004 (aged 72) |
| Alma mater | Northwestern University |
| Occupations |
|
| Spouse | |
| Children | Susan Alice Buffett Howard Graham Buffett Peter Buffett |
| Parent | William Hertzog Thompson |
| Relatives | Howard Warren Buffett (grandson) |
Susan Thompson Buffett (June 15, 1932 – July 29, 2004) was an American activist for the causes of civil rights, abortion rights and birth control, and the first wife of investor Warren Buffett. She was a director of Berkshire Hathaway, owning 2.2 percent of the company worth about $3 billion at the time of her death, [1] making her the 153rd richest person in the world. [2] She was president of the Buffett Foundation, which has contributed millions of dollars to educational groups, medical research, family planning groups and other charities.
Contents
Biography
Susan was born in Omaha, Nebraska, and graduated from Omaha Central High School. Her father, William Hertzog Thompson, was a minister, psychologist, dean at the University of Nebraska-Omaha, and one-time campaign manager for Howard Buffett.
Though her parents and Warren's knew one another, they met at Northwestern University, via Susan's roommate Roberta Buffett, Warren's sister.
Susan and Warren married in 1952 at the Dundee Presbyterian Church in Omaha. [3] They had three children together: Susan (born July 30, 1953), Howard (born December 16, 1954), and Peter (born May 4, 1958). [4]
Allegations have been made regarding Susan's conduct during her marriage to Warren. These include claims that in the mistaken belief her husband had cheated on her with his friend, Katharine Graham, she sent Graham a passive-aggressive letter that "let her date Warren Buffett", and that she had a relationship with her tennis coach, John McCabe. [5]
She occasionally performed hit classics from the early 1970s cabaret singer and, in 1977, had a one-night performance at an Omaha theater. Encouraged by songwriter/musician Neil Sedaka to pursue a singing career, [6] she left her husband and moved to a small apartment in San Francisco with her paramour, John McCabe, in Gramercy Tower on Nob Hill. Later, she moved into a large condominium on Broadway near Scott Street in Pacific Heights with views of the Golden Gate Bridge and Alcatraz. [5] She remained married and on good terms with her husband, vacationing together with him and spending time assisting charitable groups. She performed in New York and released several CDs. According to Roger Lowenstein's 1995 Random House biography, Buffett: The Making of an American Capitalist, while Warren had encouraged Susan to pursue her career in music, he was heartbroken by her move. [7]
In 1978, Susan introduced her husband to Astrid Menks, who moved in with Warren in their Omaha home, and married him after Susan's death. [8]
The Buffetts attended public functions as husband and wife though they had not lived together for more than half of their marriage. The Buffetts even signed Christmas cards, Warren, Susan, and Astrid, [9] and were often seen together as a trio.
Oral cancer and death
In October 2003, Susan was diagnosed with oral cancer; she underwent surgery, radiation therapy and facial reconstruction. Warren flew out from Omaha to be with her every weekend during her recovery and the couple would later contribute $6 million to five California doctors for the study of oral cancer. She had recovered enough to attend the annual shareholders' meeting of Berkshire Hathaway in May 2004, leading a singalong at the Borsheim's reception. [7]
Susan died at the age of 72 after suffering a cerebral hemorrhage during the summer of 2004 in Cody, Wyoming. Bono performed "Forever Young" and "All I Want Is You" at her funeral. Warren was so grief-stricken that he did not attend. She left approximately $50 million to her children's charity while each of her children received $10 million and each grandchild received $100,000. She also left a number of friends and employees substantial sums, including $8 million to John McCabe and $1 million to Ron Parks. Nearly all of her Berkshire Hathaway shares, valued at nearly $3 billion at the time, were left to a foundation that would later bear her name. [10]
Related Research Articles
Warren Edward Buffett is an American businessman, investor, and philanthropist who currently serves as the co-founder, chairman and CEO of Berkshire Hathaway. As a result of his immense investment success, Buffett is one of the best-known investors in the world. As of April 2024, he had a net worth of $139 billion, making him the ninth-richest person in the world.
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. Founded in 1839 as a textile manufacturer, it underwent a drastic restructuring into a conglomerate starting in 1965 under the leadership of chairman and CEO Warren Buffett and vice chairman Charlie Munger. The company's main business and source of capital is insurance, from which it invests the float in a broad portfolio of subsidiaries, equity positions and other securities. Buffett and Munger are known for their advocacy of value investing principles and under their direction, the company's book value has grown at an average rate of 20%, compared to about 10% from the S&P 500 index with dividends included over the same period, while employing large amounts of capital and minimal debt.
Nebraska Furniture Mart (NFM) is a home furnishing store in North America that sells furniture, flooring, appliances and electronics. It is the largest of its kind in North America. NFM was founded in 1937 by Belarus-born Rose Blumkin, who was known as Mrs. B., in Omaha, Nebraska, United States. Under the motto "sell cheap and tell the truth," she worked in the business until age 103. In 1983, Mrs. B. sold a majority interest to Berkshire Hathaway on a handshake deal with Warren Buffett for $60 million.
Howard Homan Buffett was an American businessman, investor, and politician. He was a four-term Republican United States Representative for the state of Nebraska. He was the father of Warren Buffett, the billionaire businessman and investor.
Howard Graham Buffett is an American businessman, former politician, philanthropist, photographer, farmer, and conservationist. He is the middle child of billionaire investor Warren Buffett. He is named after Howard Buffett, his grandfather, and Benjamin Graham, Warren Buffett's favorite professor.
The Susan Thompson Buffett Foundation is a charitable organization formed 1964 in Omaha, Nebraska, by investor and industrialist Warren Buffett as a vehicle to manage his charitable giving. It was known simply as the Buffett Foundation until 2004, when it was renamed in honor of Susan Buffett, who died that year.
Rose Blumkin was an American businesswoman who founded the Nebraska Furniture Mart in 1937. Businessman Warren Buffett said of her, "One question I always ask myself in appraising a business is how I would like, assuming I had ample capital and skilled personnel, to compete with it. I’d rather wrestle grizzlies than compete with Mrs. B and her progeny. They buy brilliantly, they operate at expense ratios competitors don’t even dream about, and they then pass on to their customers much of the savings.
David Sanford "Sandy" Gottesman was an American businessman, billionaire, and philanthropist. He founded First Manhattan Co. (FMC), and was noted for his friendship with Warren Buffett.
The Snowball: Warren Buffett and the Business of Life (ISBN 0553805096) is a biography of Warren Buffett by Alice Schroeder.
Alice Schroeder is an American executive, financial journalist, and author who was Berkshire Hathaway's leading sell-side insurance analyst at Morgan Stanley and later became Warren Buffett's appointed biographer. Schroeder remains a widely-regarded insurance expert, having most recently served as a Non-Executive Director on the Board of Prudential PLC. In the first week of October 2008, she published The Snowball: Warren Buffett and the Business of Life, a New York Times bestseller. As a project manager for the US Financial Accounting Standards Board, she oversaw the release of SFAS No. 113, a critical change in US reinsurance accounting regulations. Since 2008, Schroeder has worked as a columnist for Bloomberg News.
David L. Sokol is an American business executive. He is a Chairman of Teton Capital LLC, headquartered in Wilson, Wyoming. He served as chairman, president, and CEO of NetJets, as well as a chairman of MidAmerican Energy Holdings Company, of which Berkshire Hathaway holds a 100% and 89.8% stake respectively.
Susan Alice Buffett is an American philanthropist who is the daughter of Warren Buffett and Susan Thompson Buffett. Her charitable work has focused largely on the Sherwood Foundation, formerly known as the Susan A. Buffett Foundation, an organization in Omaha that provides grants in public education, human services and social justice in the interest of promoting the welfare of children from lower-income families. She is also on the boards of the Susan Thompson Buffett Foundation, The Buffett Early Childhood Institute, and Girls, Inc. According to a 2010 interview with her brother Howard Graham Buffett, Buffett's philanthropic focus has consistently remained on children, education and family issues, but she has also committed to other causes, including The ONE Campaign, a non-governmental organization dedicated to various improvements in Africa.
Blackstone Plaza is a high-rise office building in Omaha, Nebraska, U.S.. It is located at 3555 Farnam Street at the corner of South 36th Street. It was built from 1960 to 1961, and is designed in the modernist architectural style.
First Manhattan (FM) is a wealth management firm founded in 1964 by a group of financial industry executives led by the late David "Sandy" Gottesman. FM remains independently owned and operated, with operating subsidiaries that include an SEC-registered investment adviser and a broker-dealer registered with FINRA. FM is currently led by CEO and Portfolio Manager, Zac Wydra.
Tracy Britt Cool is an American business executive and entrepreneur who was widely noted as a Warren Buffett protégé. She chaired four Berkshire Hathaway subsidiaries before co-founding Kanbrick, a private equity firm, in 2020.
Ted Weschler is an American hedge fund manager who is the current investment manager at Berkshire Hathaway. Alongside Todd Combs, he is frequently cited as a potential future Chief Investment Officer of Berkshire.
William H. Thompson was a writer, psychologist, professor, Presbyterian minister, and the father-in-law of Warren Buffett.
Doris Eleanor Buffett was an American philanthropist also known as the 'retail' philanthropist and the founder of The Sunshine Lady Foundation, The Learning By Giving Foundation, and The Letters Foundation which she co-founded alongside her younger brother, billionaire Warren Buffett. She was the daughter of Leila (Stahl) and U.S. politician and stockbroker Howard Homan Buffett. Doris Buffett intended to give all of her money away before she died.
Ernest Platt Buffett was an American businessman and grocer. He was the father of U.S. Congressman Howard Buffett and grandfather of famed American businessman and investor Warren Buffett.
References
- ↑ "O'Reilly Media - Technology and Business Training". www.oreilly.com.
- ↑ Lenzner, Robert (July 29, 2004). "Susan T. Buffett Dies From Stroke". Forbes . Retrieved July 13, 2009.
She was ranked 153 on the Forbes World's Richest People list while her husband was ranked No. 2 with a net worth of $42.9 billion.
- ↑ "Dundee Presbyterian Church". Dundee Presbyterian Church.
- ↑ "Daniel-J-Thompson - User Trees - Genealogy.com". www.genealogy.com.
- 1 2