When Peter Buffett turned 19 in 1977, he inherited $90,000 worth of stock in his father’s company. FYI, $90,000 in 1977 is worth around $450,000 today. That’s a pretty amazing amount of money for a 19-year-old! Imagine what you would have done with around a half million bucks when you were 19…
Perhaps not surprisingly, Peter sold the stock and spent the money on his passion. Not some of it. All of it.
Peter’s passion was, and still is, music. Upon inheriting $90,000, Peter sold the shares, dropped out of school, and pursued his dream of being a professional musician.
Here’s the problem.
As you may have inferred by the title of this article and Peter’s last name, Peter’s father is Warren Buffett. And the $90,000 worth of stock he inherited was in Warren’s holding company Berkshire Hathaway…
So, how big of a mistake did Peter make?
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Peter Buffett grew up believing that he could do anything. The real privilege in his life didn’t come from a check from dad. It came from the love, nurturing, and belief in himself that his parents gave him. They let him find his way, make mistakes, and figure out how to get back up and try again.
As we mentioned earlier, Peter inherited $90,000 worth of Berkshire Hathaway stock on the day he turned 19 in 1977. At the time, he was an undergrad student at Stanford University who didn’t much like school and really just wanted to be a professional musician.
FYI: In 1977, a single share of Berkshire Hathaway stock traded for around $107. Therefore, it’s presumable that Peter inherited around 840 shares.
Flush with cash, Peter did what a lot of 19-year-olds might do. He sold the shares, dropped out of Stanford, and moved into a studio apartment in San Francisco to pursue his dream. After putting himself on a modest monthly budget that would buy him a few years of living, Peter spent all of his remaining inheritance on recording equipment so he could make an album.
Over time, Peter’s dreams of being a professional musician came true—through hard work, not handouts. He carved out a respected career in the world of new-age and ambient music, releasing more than a dozen albums across major labels like Narada and Sony Music. His compositions have been featured in Emmy-winning television specials and global advertising campaigns.
Most famously, he composed the haunting track used in the fire dancing scene of Kevin Costner’s 1990 epic “Dances with Wolves.” The film’s score went on to win an Academy Award, and though Peter didn’t receive the Oscar himself, his contribution helped shape one of the film’s most iconic moments. Here’s the scene, with Peter’s music:
By any measure, Peter has an impressive career and appears to live a very fulfilling life!
But… I know what you’re thinking. How much would $90,000 worth of Berkshire Hathaway stock inherited in 1977 be worth today?
Well, as we mentioned a moment ago, a single share of Berkshire Hathaway stock would have cost around $107 in 1977, so $90,000 shares would have been roughly 840 shares. Today, a single share would cost you…
$809,808
That is not a typo. Therefore, 840 shares today would be worth…
$680,238,720
That’s $680 thousand! My god! Can you imagine the regret Peter must feel? $90,000 could have become $680,000!!!
Oh wait.
That’s not $680,000. It’s $680 million. I think I’m going to be sick.
In interviews over the years, Peter has insisted that he has no regrets. Instead of having nearly $700 million today, he has a life he loves. And believe it or not, having a billionaire father does not mean Peter hasn’t struggled financially. At one point, he had two mortgages on his house. He has struggled with credit card debt. He drove a beat-up car and still frequently needs to raise money to put on shows.
Being human, there were times he wished for the easy way out. When he was in his 20s, he approached his father to ask for a loan. Warren turned him down. At the time, Peter was angry, but in retrospect, he appreciates the lesson that taught him. He learned more about himself and his ability to get back up and try again than he ever would have if he’d had the Buffett money and sailed through life.
Peter Buffett likes knowing that his success is his own and not a result of living off his father’s money.
Peter did eventually come into some real wealth… but not from Warren. From his mother.
When Peter’s mother, Susan, died in 2004, he inherited $500,000 in Berkshire Hathaway stock and $10 million.
$1 Billion… With a Catch
In 2006, Warren gifted Peter and his two siblings, Howard and Susan, $1 billion each. But there was a major caveat—it was to be used for charitable work only.
Peter and his wife Jennifer spent years trying to figure out the most effective way to be philanthropists. They eventually co-founded the NoVo Foundation, which “supports the development of capacities in people-individually and collectively – to help create a caring and balanced world.” They have paid special attention to supporting young girls and adolescent girls, particularly in the developing world. NoVo is dedicated to empowering girls and women around the world.
Between 2017 and 2024, the NoVo Foundation as given away right around $300 million. In 2024, the NoVo Foundation gave away $45 million.
Oh, and if you’re thinking Peter earns a huge salary to run that charity, let me stop you right there. According to NoVo’s most recent charity filing, seven executives at the Foundation earned over $230,000 in 2024, including the Vice President, who earned $381,000. Peter was not one of those top seven people. In 2024, Peter’s salary was $1. He also received $34,634 in “other compensation” for a grand total of $34,635.
In the end, Peter Buffett didn’t turn $90,000 into $680 million—but maybe he turned it into something more meaningful. He built a career from passion, not privilege. He raised a family, followed his dreams, and has quietly helped distribute hundreds of millions of dollars to improve lives around the world.
Would it be nice to have $680 million? Sure. But would you trade your independence, your path, your principles—just for the balance of your bank account?
Peter wouldn’t.
And if you ask him, that’s the richest way to live.
Content shared from www.celebritynetworth.com.