Latest news with #PeterBuffett
South China Morning Post
19-05-2025
- Business
- South China Morning Post
Meet billionaire Warren Buffett's musician son Peter Buffett: the Stanford dropout scored a scene in Dances with Wolves, penned a book – and co-founded the NoVo foundation with his wife
Ninety-four-year-old billionaire Warren Buffett – CEO of Berkshire Hathaway and the sixth richest man in the world – just announced that he is finally stepping down from his company after 55 years. The world famous investor admitted to the Wall Street Journal last week that he's been slowing down in his old age, and has been forgetting names and struggling to be able to read newspapers clearly. 'I didn't really start getting old, for some strange reason, until I was about 90, but when you start getting old, it does become – it's irreversible,' he said. Just last year, the so-called Oracle of Omaha announced that his fortune would go to a charitable trust after his death, which his children – Susie, 71, Howard, 70, and Peter, 67 –will all be in charge of. Advertisement The Buffett siblings have also been tasked with donating the entirety of his fortune – around US$150 billion – to charities of their choice within 10 years. The children of billionaire Warren Buffett: Howard Buffett, Susie Buffett and Peter Buffett, in 2015. Photo: AP Photo And while Buffett senior is almost universally well-loved, his youngest son, Peter, has caused controversy in recent months for his transformation of the town of Kingston in New York, with some accusing him of contributing to gentrification in the area. Here's what we know about Peter Buffett, who just turned 67: He's a musician and author Musician and philanthropist Peter Buffett rehearses his performance at Hyatt Hotel in Sha Tin, Hong Kong, in 2009. Photo: Edward Wong At 19, Peter Buffett got an inheritance of US$90,000 in stock, cashed it in, dropped out of Stanford University and moved into a San Francisco flat to focus on his music career, per NPR. He started by making tunes for MTV and commercial music before releasing his first album, The Waiting, in 1987. He got his big break when he scored the fire dance scene in the Oscar-winning film Dances with Wolves (1990).
Yahoo
14-04-2025
- Business
- Yahoo
Warren Buffett's Son Sold His Berkshire Stock Inheritance To Buy Something 'Infinitely More Valuable' Than The $500 Million It Would Be Worth Today
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Peter Buffett, the son of long-term investing legend Warren Buffett, made a life-changing decision nearly 50 years ago when he traded his inheritance 'to buy time.' Although he missed out on what could have been hundreds of millions of dollars in profit, he stands by his choice, confident that his father would agree. Finding His Path: At 19, Buffett received a portion of the proceeds from the sale of his grandfather's farm, which his father invested in Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B), amounting to $90,000, according to CNBC. His father made it clear that this was all the financial support he would receive for personal use. Despite knowing it was his entire inheritance, the legendary investor's son sold his Berkshire stock to fund his passion for music. Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share! Hasbro, MGM, and Skechers trust this AI marketing firm — invest pre-IPO from $0.55 per share. Buffett dropped out of Stanford University, purchased a modest studio apartment in San Francisco, and invested in upgrading his recording equipment. He dedicated his time to honing his piano and music production skills. His big break came unexpectedly when a neighbor asked him about his profession, setting him on the path to a successful career in music. He told the neighbor that he was a "struggling composer" and the neighbor offered to introduce him to his son-in-law who was an animator looking for ad tunes for a new cable station — it turned out to be MTV. Buffett is now 66 years of age and has released around 15 studio albums over his successful Path Not Taken: If the son of the legendary investor would have stayed in college and held onto his $90,000 investment in Berkshire Hathaway, it would be worth over $500 million today. "But I didn't make that choice and I don't regret it for a second. I used my nest egg to buy something infinitely more valuable than money: I used it to buy time," Buffett said. That's a decision that his father would be proud of, he noted. The billionaire taught his son that work isn't about making as much money as possible, instead it's about doing something that you love to do. Buffett acknowledged that the money was a privilege, calling it a gift that he had not earned. 'Without those hundreds of unpaid hours spent fiddling with my recording gear, I would not have found my sound or approach," Buffett said. The musician used the money to buy time to pursue something that he enjoys waking up and doing each day, which is exactly what his father tells young people to do. The billionaire has previously recommended that people pursue careers they would want even if money was not part of the decision-making process. Read Next: With shares starting at $1.52, this could be your chance to invest in the future of healthcare. 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.26/share with a $1000 minimum. This story is part of a series of features on the subject of success, . Some elements of this story were previously reported by Benzinga and it has been updated. Image created using artificial intelligence via Midjourney. Send To MSN: Send to MSN This article Warren Buffett's Son Sold His Berkshire Stock Inheritance To Buy Something 'Infinitely More Valuable' Than The $500 Million It Would Be Worth Today originally appeared on Sign in to access your portfolio
Yahoo
14-04-2025
- Business
- Yahoo
Warren Buffett's Son Sold His Berkshire Stock Inheritance To Buy Something 'Infinitely More Valuable' Than The $500 Million It Would Be Worth Today
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Peter Buffett, the son of long-term investing legend Warren Buffett, made a life-changing decision nearly 50 years ago when he traded his inheritance 'to buy time.' Although he missed out on what could have been hundreds of millions of dollars in profit, he stands by his choice, confident that his father would agree. Finding His Path: At 19, Buffett received a portion of the proceeds from the sale of his grandfather's farm, which his father invested in Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B), amounting to $90,000, according to CNBC. His father made it clear that this was all the financial support he would receive for personal use. Despite knowing it was his entire inheritance, the legendary investor's son sold his Berkshire stock to fund his passion for music. Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share! Hasbro, MGM, and Skechers trust this AI marketing firm — invest pre-IPO from $0.55 per share. Buffett dropped out of Stanford University, purchased a modest studio apartment in San Francisco, and invested in upgrading his recording equipment. He dedicated his time to honing his piano and music production skills. His big break came unexpectedly when a neighbor asked him about his profession, setting him on the path to a successful career in music. He told the neighbor that he was a "struggling composer" and the neighbor offered to introduce him to his son-in-law who was an animator looking for ad tunes for a new cable station — it turned out to be MTV. Buffett is now 66 years of age and has released around 15 studio albums over his successful Path Not Taken: If the son of the legendary investor would have stayed in college and held onto his $90,000 investment in Berkshire Hathaway, it would be worth over $500 million today. "But I didn't make that choice and I don't regret it for a second. I used my nest egg to buy something infinitely more valuable than money: I used it to buy time," Buffett said. That's a decision that his father would be proud of, he noted. The billionaire taught his son that work isn't about making as much money as possible, instead it's about doing something that you love to do. Buffett acknowledged that the money was a privilege, calling it a gift that he had not earned. 'Without those hundreds of unpaid hours spent fiddling with my recording gear, I would not have found my sound or approach," Buffett said. The musician used the money to buy time to pursue something that he enjoys waking up and doing each day, which is exactly what his father tells young people to do. The billionaire has previously recommended that people pursue careers they would want even if money was not part of the decision-making process. Read Next: With shares starting at $1.52, this could be your chance to invest in the future of healthcare. 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.26/share with a $1000 minimum. This story is part of a series of features on the subject of success, . Some elements of this story were previously reported by Benzinga and it has been updated. Image created using artificial intelligence via Midjourney. Send To MSN: Send to MSN This article Warren Buffett's Son Sold His Berkshire Stock Inheritance To Buy Something 'Infinitely More Valuable' Than The $500 Million It Would Be Worth Today originally appeared on Sign in to access your portfolio
