Warren Buffett's belief in increasing inheritance tax, which he refers to as the "Ovarian Lottery", has had significant implications. Professionally, it has caused some controversy and alienation within the business world, as it goes against the common practice of wealth inheritance. Personally, it has caused divisions within his own family. He has applied this principle to his own children and siblings, leading to strained relationships. For instance, he shunned his adopted granddaughter, stating that he had not legally or emotionally adopted" her as a grandchild.
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When a group of economists came up with the Efficient Market Hypothesis, to explain how it was impossible for multi-billionaire investor Warren Buffet...
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If Buffett cared about his outer scorecard, he would have realized many losses. His belief that inheritance tax should be increased, ruffled many feathers. Calling it the "Ovarian Lottery," he didn't believe that children should automatically win their family's wealth. Not only did he alienate the business world with this campaign, but he divided his family, applying the same principle to his own children and siblings. He shunned his adopted granddaughter in a letter saying that he had "not legally or emotionally adopted" her as a grandchild.