Money

Warren Buffett tells Bill Gates how he spent his 'nickel-a-week' allowance when he was 6

Warren Buffett and Bill Gates visited a candy store in Omaha during this year's Berkshire Hathaway shareholder meeting
The Gates Notes LLC
Warren Buffett and Bill Gates visited a candy store in Omaha during this year's Berkshire Hathaway shareholder meeting

Legendary investor Warren Buffett started making money at just six years old. The young entrepreneur sold sticks of gum in his neighborhood for a few cents per pack of five.

He also got an allowance, he told longtime friend Bill Gates as they visited a candy store in Omaha during this year's Berkshire Hathaway shareholder meeting: "When I was six — we're talking 1936 now — I got a nickel a week." That's the equivalent of a little less than a dollar today.

Buffett took his coin straight to "Ernie's Drugstore," he tells Gates in a video Gates posted to his blog. "There, they would have penny candy, so the nickel would entitle me to five choices. And I could spend an hour making those choices."

After all, Buffett had a lot of favorites, and he still does: "I like the peanut brittle a lot and there's no way to stop once you start eating peanut brittle. … And Whoppers, I love. And Milk Duds. … I like almost everything. Just offer it to me and find out."

Buffett never lost his sweet tooth. As Gates recalls, "One of the first times he came to visit in Seattle, our kids were stunned when they saw him chowing down Oreos for breakfast."

Plus, he drinks at least five sodas a day. "I'm one quarter Coca-Cola," Buffett told Fortune in 2015. "If I eat 2,700 calories a day, a quarter of that is Coca-Cola. I drink at least five 12-ounce servings."

His explanation for his sugar-centric diet: "I checked the actuarial tables, and the lowest death rate is among six-year-olds. So I decided to eat like a six-year-old. It's the safest course I can take."

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