By Theron Mohamed
Warren Buffett's favorite Christmas presents over the years have included dresses, chocolates, and stacks of cash.
Cash and stock
"He would always give each of us $10,000 in hundred-dollar bills," Mary Buffett, who was married to Warren's son Peter from 1980 to 1993, recently told ThinkAdvisor. "As soon as we got home, we'd spend it — whooo!"
Warren switched things up after realizing his family were blowing through the lump sum — worth more than $30,000 in today's dollars.
"One Christmas there was an envelope with a letter from him," Mary told ThinkAdvisor. "Instead of cash, he'd given us $10,000 worth of shares in a company he'd recently bought, a trust Coca-Cola had. He said to either cash them in or keep them."
Mary decided the stock was worth more than $10,000, so she held onto the shares. After they rose in value, she repeated the strategy with Warren's future gifts.
"Every year when he'd give us stock — Wells Fargo being one of them — I would just buy more of it because I knew it was going to go up," she said.
Warren Buffett's daughter-in-law couldn't think of a good Christmas present — so she showed her company's finances to him.
Mary Buffett was married to the famed investor's son Peter from 1980 to 1993, and the pair owned a music business together.
"I didn't know what to get him, so I put together our music company's balance sheet to show him that we were making money," she told ThinkAdvisor. "I just wanted to show him, 'Look, we're doing good.'"