Peter Buffett is a musician and composer with a famous last name. He is the son of billionaire investor Warren Buffett.
“In the music world where I was for most of my adult life, people thought I was Jimmy Buffett's son, so it really didn’t mean anything,” Peter laughed.
And it didn't mean much to Peter either. When he was growing up in the house where Warren Buffett still lives, they were comfortable, but not mega-rich.
“We had no idea what my dad did,” said Peter. “I had to do stuff for my allowance like rake the leaves.”
He is now performing and has written a book called "Life Is What You Make It.”
He knows his father's fame comes with benefits.
“That's given me a platform,” he said. “It's given me a tool in the toolbox.”
As co-president of the NoVo Foundation, he is helping adolescent girls -- who in many countries -- don't even have access to education. He thinks of each girl as an investment.
“If you invested in her and let her do the rest, everything would improve because she's going be the mother of every child,” said Peter. “Generationally, you will see a change.”
As a college student, Peter inherited $90,000 worth of stock from grandfather.
“My dad said, 'This is it. Do whatever you want, but you're not getting anything more,’” Peter recalled. “I think [it’s] an act of respect and love. You figure it out because you can.”
If he hadn't spent it, that stock would be worth more than a hundred million dollars now.
“I am sort of your classic your money or your life,” he said. “And I'll take the life.”
What was the best advice his dad ever gave him?
“Invest in yourself,” said Peter. “Surround yourself with people you want to be like or learn from or gain experience from – whatever it may be. You are your destiny.”
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