Warren Buffett Gives Young Entrepreneurs Ten Shares

By: The Associated Press, Brian Mastre contributed to this report
By: The Associated Press, Brian Mastre contributed to this report

Meeting Warren Buffett is exciting, but 10-year-old Matthew Meyer says winning $5,000 and 10 shares of stock in Buffett's company made Monday the best day of his life.

Matthew says winning the grand prize in a contest tied to "The Secret Millionaire's Club" cartoon makes him "rich-ish." The Cincinnati boy won the individual competition with a writing aid he designed.

Buffett told Channel 6 News he could have used the writing tool when he was a kid. "Terrible. It was horrible. Don't go back to Rose Hill and ask any questions about my penmanship. I could have used anything."

Matthew said he was going use by an Xbox with his money and then invest the rest into his product. Then he asked his mother if he could go to the hotel pool.

When Buffett heard that story, he laughed and told Channel 6, "When I was selling Coke door-to-door at age 6 or 7, I saved every dime. None went to an Xbox."

The cartoon, featuring an animated Buffett teaching financial lessons, airs on the Hub cable network and online at www.smckids.com .

Buffett says he's impressed with the thought the kids all put into their products. He gave all the finalists and their teachers 10 Class B Berkshire shares.

Five individuals and three teams between the ages of 7 and 16 from Maryland, Maine, Texas, New Jersey, Ohio, Kentucky and Washington competed.

The Kentucky team won the team division. They had built an advice kit aimed at children who wanted to become entrepreneurs.

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