In 1966, His Wife Convinced Him To Invest About $67,000 With A Man They Played Bridge With. The Bridge Player’s Name Was Warren Buffett. By The Mid-1990s, The Couple’s Investment Was Worth More Than $25 Million
Quick Read
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Dorothy Kripke spent two to three years convincing her husband to invest $67,000 with neighbor Warren Buffett, who waived his $150,000 minimum for a friend.
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That $67,000 grew to more than $25 million by the mid-1990s because the Kripkes made one decision and never touched it.
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Despite $25 million in wealth, the Kripkes kept their $900-a-month rental and a Chevrolet, then gave away most of it to charity.
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In 1960s Omaha, Rabbi Myer Kripke and his wife, Dorothy, lived on a congregational rabbi’s pay. They had about $67,000 from an inheritance plus their own savings, according to Douglas Martin’s New York Times obituary of the rabbi. They also had a friend from the bridge table who lived a few blocks away. His name was Warren Buffett.
A Rabbi’s Pay and a Children’s Author
Myer Kripke was born January 21, 1914, in Toledo, Ohio, and ordained in 1937. That year he married Dorothy Karp beneath the Jewish Theological Seminary’s tower, and the chancellor waived the fee because they were short of cash. She went on to write children’s books, including the “Let’s Talk About” series and “Let’s Talk About God.”
After posts in Racine, Wisconsin, Patchogue, New York and New London, Connecticut, he took over Beth El Synagogue in Omaha at a starting salary of $7,500, serving from 1946 to 1975. Per the obituary, he never earned more than $30,000 a year there and never bought real estate.
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Bridge, Rotary and Kosher Tuna Salad
By the rabbi’s account in a 2011 oral history, Susan Buffett called asking for Dorothy to discuss “Let’s Talk About God.” The women became friends, and Susan drove Dorothy to appointments. The men shared a Rotary Club and the Happy Hollow neighborhood. The couples played bridge, and at the Buffetts’ Thanksgiving a hired cook made kosher tuna salad for the Kripkes. Buffett later attended the rabbi’s 90th birthday party. “It made me very important,” the rabbi told the Times.
