Matthew Meyer recently met Warren Buffett, but the 10-year-old found the day even more exciting because he won 10 shares of Berkshire Hathaway stock and a $5000 prize. He said this day was the best of his life.
Matthew also didn’t believe that he would make the finals in Omaha, Nebraska, or even come close to winning the contest related to “The Secret Millionaire’s Club” cartoon that had over 4000 youngsters enter. A boy from Cincinnati tells us that his winnings made him “rich-ish” since $5000 is certainly quite a bit of money.
“I’ve wanted to be an investor all my life, so this is a dream come true,” Matthew said. He was the designer of a wristband that has an elastic strap. It helped him to learn how to hold a pen the right way.
The cartoon presented an animated version of Warren Buffett that taught children financial lessons, and the cartoon aired on the Hub cable network. You can also see the videos online at www.smckids.com. Buffett is highly supportive of the efforts of the cartoon, since its teaching kids smart financial principles like how to avoid debt. He teaches children through his voice and his cartoon character.
Matthew made it a point to tell billionaire Buffett that “he looks nothing like the cartoon.”
Buffett tells us that he was very impressed with all of the thought the children put into their products, and he was also impressed with how they were articulate. He gave each finalist – from ages 7 to 16, plus their teachers – 10 Class B shares of Berkshire Hathaway.
“They are so far ahead of where I was at that age,” said Buffett.
The Chief Executive Officer and Chairman of Berkshire Hathaway mentions that he really hoped the kids walked away with an understanding that they will be able to earn more the more educated they become. For the most part, he was encouraging to the kids and mainly posed for pictures during the event.
Buffett meets regularly with a group of college students that visit him in Omaha and ask him questions about life and business. He’s making an effort to pass on some of his life lessons, and said that he had great teachers that helped him when he was young.
Kennedy Sabharwal, winner of the group competition with her cousin and brother, mentions that meeting Warren Buffett was the greatest part of the event.
“He’s such a great guy. He even let me hold this wallet for a picture,” said the 13-year-old Kennedy from Lexington Kentucky. She worked on her project with her cousin Sawyer Beeler, from Liberty, Kentucky, and her brother Spencer Sabharwal, who is 16 years old. They designed an entrepreneurial kit that would help kids run their own business. From Terry
The person who won, plus the winning team each received $5000. Each runner-up earned $500.
By Kids for Kids oversaw the competition and The Fairholme Foundation sponsored it.
Bruce Berkowitz, trustee of the foundation and fund manager of Fairholme Capital Management, mentions that he hopes this event will continue to grow since the kids learn valuable life lessons while figuring out how to launch a business and interacting with Warren Buffett.
“Anything to do with Warren Buffett is worth doing. The man is clearly the Benjamin Franklin of our time,” said Berkowitz.
In addition to Matthew Meyer, the other finalists were: Fabian Fernandez-Han of Conroe, Texas; Krissa Hillman of Savage, Maryland; Maxwell Wallack of Natick, Maine and Alex Pollitto of Colts Neck, New Jersey.
The additional group finalists were: Clarissa Henry and Esai Prescod of Seattle and Molly McKiernan, Michael Park, Charles Ripepi and Austin Hayhurst from the Cleveland area.