Lessons from Super-Rich Dads: What Buffett, Trump, Lynch and Schwab Taught Their Kids

Father's DayParents can only hope that the values and wisdom they've tried to bestow on their children have made it past their offspring's ears -- which can be prone to selective hearing -- and into the gray matter mass between them. In that respect, we have some good news for investment gurus Warren Buffett and Peter Lynch, as well as industry tycoons Donald Trump and Charles Schwab: Their kids were listening -- at least, a good chunk of the time.

In this Father's Day special report, the adult children of these Wall Street icons chatted with DailyFinance about the lessons they learned from their dads.

Among the common themes to emerge from these interviews were that investing philosophies can be applied to how you live your life, as Peter Lynch's middle daughter has learned, and that the values you hold fast to in your personal life can make good business sense too, an idea we heard from Charles Schwab's eldest daughter.


Another common theme -- the idea that listening is a two-way street. Take Warren Buffett, for example, who regularly queried his children at the dinner table about the products and services they used, mining their preferences for insight about potential investments. Then there's Donald Trump, who learned from his social-media-savvy kids about something called the Internet.

Come take a stroll down Memory Lane with these now-grown children, share in their family photo galleries, and learn what some of America's most successful dads have passed down to the next generation:

  • Eric Trump, youngest son of Donald Trump and his first wife Ivana Trump

Increase your money and finance knowledge from home

Small Cap Investing

Learn now to invest in small companies the right way.

View Course »

Introduction to Economic Indicators

Measure the performance of the economy.

View Course »

Add a Comment

*0 / 3000 Character Maximum

168 Comments

Filter by:
americandoo

"TIME FOR BIG INVESTORS TO STEP UP TO THE PLATE LEAD AMERICA BY
INVESTING IN AMERICA" "WHEN YOU INVEST IN AMERICA YOU INVEST IN YOUR CHILDREN'S
FUTURE"

"INVEST IN A LARGE PROJECT THAT WILL MAKE A DIFFERENCE FOR THE FUTURE"
Similar to this idea; In past history when the USA needed a Moral Boost to our
Country we built such things as; The Largest Bridges, Dams, Statue Of Liberty,
Worlds Largest Futuristic Fair, Landed on the Moon etc.

It is overdue for us and time for us to build the Largest & Best Futuristic
CITY IN THE WORLD, using ALL OF OUR CUTTING EDGE TECHNOLOGY­.

Countries CUTTING EDGE TECHNOLOGY and BEYOND ALL OTHERS ! !

Find a location in the USA somewhere that has the space for our "FUTURE CITY
PROJECT"

Where Our Future City will Utilize all of the Newest and Cutting edge combined
technology in the world to build our City using entirely GREEN energy with ZERO
POLLUTION ! ! !

Our City Could Have A NEW VERSION OF THE STATUE OF LIBERTY, Holding
the torch in one hand and our GREEN PLANET EARTH in her other hand, her head
raised high looking Up at the sky.

This would make a GREAT FILM based
on a True Story with the help of A TEAM OF BIG MONEY INVESTORS ! ! !

Use your Imaginatio­n think how; GREAT THIS WOULD BE FOR AMERICA & OUR
ECONOMY ! ! ! !

"DREAM BIG...DO BIG"

Thank You, Respectful­ly, Michael V. Caldwell

August 05 2011 at 12:42 PM Report abuse rate up rate down Reply
Ki-Ki

No down home loans, even with bad credit or bankruptcy.
http://www.allsolutionsnetwork.com/cgi-bin/d.cgi/KM3097/no_down_loans.htm

July 03 2011 at 3:15 PM Report abuse rate up rate down Reply
GazFreeFood

Must read Rich Dad, Poor Dad it is a great book. Many that have money teach their children to work smart not hard."You can have everything in life that you want if you just give enough other people what they want."
— Zig Ziglar
With the economy expected to get worse. My family has cut back in all areas but still continued to struggle. I am so thankful because someone shared with me an opportunity to eliminate my family’s grocery and gas expense. If this would help you check it out: http://www.groceriesforfree.biz/gaz

June 28 2011 at 3:44 PM Report abuse rate up rate down Reply
madddddddddddddd

MOM SAID DONT SAY anything bad,,,,,,,so i will say zero............................

June 23 2011 at 4:42 PM Report abuse rate up rate down Reply
motmotiee

If you knew a dealer at MGM, would you cheat with that dealer to make money?

Well if you would you could easily get caught and go to jail. But let me ask you, what if you could do something very similar, only it wasn't illegal, would that interest you?

If so I got something for you that is far superior....

There is a "secret" about the Oil market, a secret that will enable you to take trades on Oil and have an extremely high success rate, (like cheating) knowing the outcome before it happens....

I'm a scientist and trader and no this isn't a scam.....

Come see for yourself at my website, google OIL TRADING ACADEMY....

June 20 2011 at 8:53 AM Report abuse rate up rate down Reply
davidm

Great fathers day article! My dad has given me tons of investging advice. Some of it even good! LOL. He was the one that told me to roll my 401k over to an IRA for tax benefits which was good advice. He also reccomended I invest my 401k in Real Estate. Who knew that was even possible! I did it through www.capitalira.com. Happy Fathers day to all the dads out there...especially mine!!!

June 20 2011 at 12:29 AM Report abuse rate up rate down Reply
Ajvatovica

I met a man in Chicago 3 years ago. He said his dad was telling him every day how to become successful man. Beleive or not he never listened to his dad, and today hi is driving van.
THX.

June 19 2011 at 5:20 PM Report abuse rate up rate down Reply
HELEN

What in the world could Trump teach his kids? How to blame every loss on someone else. Ever notice how NOTHING is ever Trump's fault, always someone else's, when in reality, it IS HIS FAULT. i.e. bankruptcies. Yuk.

June 19 2011 at 5:01 PM Report abuse +1 rate up rate down Reply
ultraz2

HEY MUZZIE 123--You must have led a sheltered life. The F bonb has bomb has been used by the masses for centuries. Trump used it for effect and nothing else. AND IT'S WORKING.

June 19 2011 at 4:13 PM Report abuse rate up rate down Reply
ultraz2

MUZZIE, GET REAL-- The f bomb has been used by the masses for centuries---YOU MUST HAVE LED A SHELTERED LIFE.--Trump is using it for effect and nothing else. AND IT'S WORKING.

June 19 2011 at 4:09 PM Report abuse rate up rate down Reply