How billionaire Warren Buffett ended up with 3 totally normal kids

Warren Buffett — the Oracle of Omaha — has achieved an incredible level of success and wealth. Entrepreneurs and investors eager to build their own $82 billion fortunes have long studied Buffett’s business practices.

At the Forbes 400 Summit on Philanthropy in San Francisco last week, Buffett, the world’s third-richest person, imparted his wit and wisdom — not about business, but about parenting.

Click to see Buffett’s best tips of all time.

RELATED: Warren Buffett's 3 children

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4 Parenting Tips From Warren Buffett

Buffett, who turns 88 in August, is a father of three. Known for his love of simple pleasures, he extended the same simplicity to his family. His children — Susan, Howard and Peter — grew up without the trappings associated with wealth: They had chores, held jobs, rode the bus to public school and only became aware of their father’s work and success as young adults.

The Oracle of Omaha offered his wisdom for other high net-worth parents on how to set up their children for success. Here are Buffet’s parenting tips:

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Click to keep reading about all the ways Warren Buffett lives frugally.

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This article originally appeared on GOBankingRates.com: How Billionaire Warren Buffett Ended Up With 3 Totally Normal Kids