Certainly a snappy Buffet quote. The reality is his children lead a very upper class existence, spending their time on foundations, subsidized personal growth (music) etc.  Truly, the life of what is the American aristocracy.

They all seem like fine, caring individuals. However, they are not leading a middle class life of the grinding daily routine of work life, chores and trying to save experienced by most individuals.  I think they might recognize their privilege, yet it is a spoiled life that most can only imagine.