You would think Peter Buffett, 52, would be upset over not inheriting his father's billions (Warren Buffett pledged to give most of his fortune away to charity), but Peter actually views it as a positive move. He believes that because he knows there is no billion-dollar inheritance waiting for him, it has actually driven him to make something of himself — a musician with an Emmy on his belt who has composed scores for movies and albums.
However, Peter did receive some financial benefits that come with being the son of America's richest man. When he was 19, his father gave him Berkshire stock worth $90,000, which came from the profits of the sale of his grandfather's farm. His father's financial mastery has caused the stock to shoot to today's valuation of a hefty $70 million.
Too often, we see kids with trust funds or inheritance feeling a sense of entitlement. Just take a look at VH1's You're Cut Off! or MTV's My Super Sweet 16. Kids on those shows are used to having things handed over to them without having to work for it, and a large influence in their behavior is their upbringing. Peter seems to feel glad that he didn't face the same route, and he tells the Sarasota Herald Tribune that "there's not a minute that I would choose the money over the experiences and lessons I've had . . . My life has been so much richer, and that's dead-on true."