Buffett: Teach kids financial literacy to spark entrepreneurship

In real life, the club includes an annual “Grow Your Own Business Challenge” for kids who come up with business ideas. n The winners were chosen on Monday: Beaux Up, a customizable bow tie business by 15-year-old Jake Johnson of North Carolina in the individual competition; and WiseGuide, an intergenerational online community, from Krystal and Allyson Graylin and Kei Chua from Seattle, Washington, in the team contest. n The winners each received $5,000, and all finalists received 10 Berkshire Class B shares (BRKb.N), worth $1,271 at the closing of the market on Monday. n Buffett, the third-richest person on the Forbes list of wealthiest people and the chairman and chief executive of conglomerate Berkshire Hathaway (BRKa.N), took some time to talk to Reuters about kids, financial literacy and why he still bets big on the U.S. economy. The questions and answers have been edited and condensed for length and clarity. n Q. Are you seeing any trends among the entries? n A. There’s a gr