Buffett: Investing $10,000 in 1942 Equals $51m Today

By: Yassmine ElSayed

CAIRO, Feb. 28 (SEE) – Billionaire investor Warren Buffett calculated that the investment of only $10,000 in S&P 500 index fund in 1942, would today count for $51 million.

His talk came during statements he gave to CNBC.

On other hand, Buffett said that the gap in wealth and in equality “has widened and will continue to widen unless something is done about it”.

“The question is, what happens to the person who’s a decent citizen, doesn’t have market skills? And we can solve that,” Buffett said.

He explained: “A rich family can handle if they’ve got six children and one of them isn’t as good in the market ... is just good in every other personal quality. They take care of him.. So we can take care of people and we should. But we shouldn’t screw up the market system.”