Warren Buffett’s Son Peter Says He Didn’t Realise His Father’s Wealth Until His 20s
NEW YORK: Warren Buffett is one of the most recognisable business figures in the world, synonymous with wealth, discipline, and long-term investing. Yet, for years, his youngest son Peter Buffett remained largely unaware of the true scale of his father’s fortune and influence.
According to a report by Fortune, Peter Buffett once revealed that he only realised how rich his father was in his 20s—after seeing Warren Buffett’s name appear on Forbes’ list of the richest Americans.
“I’m not kidding. It was when I was in my 20s that my mom and I talked at some point, because there he was, on this list,” Peter said in a 2013 interview with Forbes. “And we laughed about it, because we said, ‘Well, isn’t it funny? You know, we know who we are, but everybody’s treating us differently now.’”
Growing Up Outside the World of Wealth
Peter, now 67, is the youngest of Buffett’s three children with his first wife Susan Alice Buffett. Despite his father’s rising prominence, Peter said the family never lived within a culture that openly displayed wealth or privilege.
“It was a fascinating switch, although not a huge one because we didn’t live in that world or a cultural framework where there was a lot of wealth being shown,” he said, adding that even their friends were as surprised as he was by the sudden public attention.
This understated upbringing shaped Peter’s worldview and career choices. Rather than entering finance or business, he carved out an independent path as a musician, composer, author, and philanthropist. Over the years, he has won a regional Emmy Award, become a New York Times best-selling author, and served as co-chair of the NoVo Foundation, which focuses on social justice and community-led change.
Warren Buffett on Raising His Children
Warren Buffett has echoed his son’s recollections, saying his children had already developed their identities long before they fully grasped his financial standing.
“The kids were formed by that time, and they knew who their friends were,” Buffett said. “Their friends were their friends because they liked ’em, and not because they were the rich kid on the block or anything of the sort.”
This philosophy aligns closely with Buffett’s long-standing views on parenting, money, and character—ideas he has often shared with shareholders and the public.
A Billionaire With a Frugal Lifestyle
The former Berkshire Hathaway CEO was once the world’s richest person, briefly overtaking Bill Gates in 2008 with a net worth of $62 billion. While he no longer holds the top spot, Buffett remains among the wealthiest individuals globally, with an estimated net worth of $145 billion, placing him firmly in the world’s top 10 richest people.
Despite this immense wealth, Buffett is famous for his frugal lifestyle. The 95-year-old investor still lives in the same modest Nebraska home he purchased in 1958 for $31,500, eats at McDonald’s, and drives an old car—choices that have become part of his legend.
Money Was Never the Measure of Success
In his final Berkshire Hathaway shareholder letter published in November, Buffett reiterated that money alone was never his definition of success.
“Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government,” he wrote.
Instead, Buffett has consistently highlighted kindness, humility, and philanthropy as the values that truly matter. “When you help someone in any of thousands of ways, you help the world,” he said, adding that kindness costs nothing but is priceless.
He also stressed the importance of dignity and equality, writing: “Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior… Keep in mind that the cleaning lady is as much a human being as the Chairman.”
Our Thoughts
The story of Peter Buffett discovering his father’s wealth later in life offers a rare glimpse into how intentional values can shape family culture, even amid extraordinary riches. Warren Buffett’s approach—downplaying wealth, prioritising character, and encouraging independence—challenges the assumption that affluence must define identity. In an era obsessed with status and display, the Buffett family’s experience stands out as a reminder that how wealth is lived can matter as much as how it is earned.