Warren Buffett, the congressman’s son

By Laurie Bennett

March 19, 2014 at 8:10am

Warren Buffett so embodies the down-to-earth, self-made success story that it’s easy to forget he was born to privilege.

Buffett’s father, Howard H. Buffett, was a four-term Republican congressman representing Nebraska’s 2nd District from 1943 to 1948, and again from 1951 to 1952. He retired from public life after losing his bid for a Senate nomination in 1954.

Jason Furman
Warren Buffett

Like his son, he was an investor. But the two men would differ widely in their politics.

Warren Buffett is a liberal Democrat who supports the estate tax and does not share the congressman’s ardent support of the gold standard.

His father was a libertarian and a vocal opponent of Franklin Roosevelt’s New Deal.

“My dad was a totally independent thinker,” Buffett once told Fortune. “I suppose the fact that he was has influenced my own thinking some when it comes to buying stocks.”

Despite their political differences, the son has repeatedly expressed admiration for his father, who died in 1964.

“He was my hero when I was 6 and he is still my hero now,” Buffett told CNBC. “He is an inspiration to me in every way.”

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  • #1.   james 03.20.2014

    It was a privilege to serve your constituents for 10,000 per year . not so much now for 179,000

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