On Monday, the granddaughter-in-law of billionaire investor Warren Buffett was hired by JPMorgan.
36-year-old Lili Buffett, the wife of Howard Buffett, the grandson of Berkshire Hathaway’s CEO, was named wealth advisor. Liz Weikes, a managing director and wealth partner at JPMorgan, announced on Instagram that she will focus on the foundations and philanthropy of its clients.
Lili’s wealth of experience in the philanthropic and foundation sectors will be extremely beneficial to The Weikes Group. “I couldn’t be prouder of Lili’s growth as a Wealth Advisor and working mother alongside me,” Weikes wrote in a post that included a photo of the two.
On Monday, Lili announced the news on her Instagram story, captioning a photo of herself standing outside a JPMorgan office with “First Day!” On September 13, she wrote, “Can’t wait to shop for work attire for my new job at JP Morgan.”
JPMorgan CEO Jamie Dimon has received numerous accolades from Warren Buffett in recent years. Buffett described him as a “fantastic banker” to Bloomberg in 2011 and a “first-class guy” to the Financial Times in 2014.
In 2013, he defended Dimon’s pay increase, telling The Wall Street Journal, “If Jamie decides he wants to make more money, all he has to do is call me, and I’ll hire him at Berkshire.”
Dimon and Buffett have previously worked together, such as when they launched Haven, a healthcare venture with Amazon’s former CEO Jeff Bezos aimed at providing better and more affordable care for their employees. However, three years after its inception, the venture failed.
Warren Buffett is not only an ally of Dimon, but also a supporter of his bank, JPMorgan, in which Berkshire Hathaway once owned a stake worth more than $8 billion (roughly R141 billion). However, due to an unexpected sale in 2020, Berkshire reduced its holding to fewer than 1 million shares worth less than $100 million (around R176 million).