Tuesday, September 21, 2010

Warren Watch: Power trio talks turkey

Wonder what Warren Buffett, Steve Forbes and Jay-Z talked about the other day at Omaha's Hollywood diner? the result, if not a transcript, will appear when Forbes magazine names the world's 400 richest people, a list that will include at least one of the three — the Omaha investor, 80; the magazine publisher, 63; and the rapper, 40. In general, it's likely that Forbes and Jay-Z, the stage name of Shawn Corey Carter, talked about some of Buffett's favorite topics: money and philanthropy. While Forbes and Jay-Z may seem an unlikely pair, Jay-Z's wealth is estimated at $150 million by some sources. That's short of the $900 million or so needed to make the Forbes list but certainly enough to make some high-caliber financial advice worthwhile.Jay-Z has sold about 40 million albums worldwide, making him one of the most financially successful hip-hop artists, Wikipedia says. He's part owner of the New Jersey Nets of the NBA, has a clothing line and has founded two record companies. Maybe Jay-Z witnessed Buffett's pop-singing attempt in a Geico video earlier this year. Maybe it was Forbes' idea to bring the two together and see what happens. Maybe Jay-Z got the idea from other celebrities who have sought Buffett's counsel as they begin to think about long-term plans for the money they accumulate. Whatever the reason or reasons, the get-together reportedly included a visit to the headquarters of Buffett's Berkshire Hathaway Inc. and a photo shoot in the memorabilia-decorated diner along Abbott Drive. The visit was supposed to be secret, with cameras and their images kept within Forbes magazine's custody. But word leaked out (how could it not?), and a photo showing Buffett and Jay-Z appeared on VLADTV's website. An online comment from a VLADTV viewer, playing off Jay-Z's “Brooklyn we go hard” video:

“BROOOOOOOOOOOOOOOOKLYN rubbing Shoulders with one of the Richest in the world. Gotta luv  it!”

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