Reveals Buffett’s Billionaire Secret Unveiled in 20s

At a Glance

• Warren Buffett kept his billionaire status hidden while raising his children.
• Peter Buffett discovered his dad’s wealth after seeing him on Forbes’ richest-Americans list.
• The Buffett family’s philanthropic plan will see a $143.2 billion trust managed by the heirs.
• Why it matters: It shows how a family’s perception of wealth can shift dramatically in a single moment.

The revelation that Warren Buffett was a billionaire came to his son, Peter, only when the elder Buffett appeared on Forbes’ list of the richest Americans. Peter, who had never known the extent of his family’s wealth, shares how the discovery reshaped his view of money and family.

A Secret Billionaire

For decades, Warren Buffett kept his fortune private, even from his own children. The billionaire’s wealth, estimated at $143.2 billion by Forbes, was not a public secret until Peter saw his name on the list. The discovery was a turning point for the family.

Peter’s Realization

Peter Buffett, now 67, recalled the moment he first saw his father’s name:

> “Well, that would be about the time that we found out how much money we had as a family. I’m not kidding.”

He added that the realization happened while he was in his 20s, after his mother and he had a conversation about the Forbes listing. The family laughed at the sudden shift in perception:

> “It was when I was in my 20s that my mom and I talked at some point, because there he was, on this list. 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.'”

Peter noted that the change was not dramatic in terms of lifestyle, but it altered how the family was viewed by friends and the public.

Family Background

Warren Buffett shares three children with his late first wife, Susan Buffett. The family’s key dates are:

The Buffett family experienced significant changes over the years. Warren and Susan separated in the late 1970s but never divorced. Susan died of a stroke at age 72 in July 2004. Before her passing, she introduced Warren to his current wife, Astrid Menks Buffett, who married him in 2006.

Philanthropic Vision

Warren Buffett has long planned to donate his fortune to charitable causes. He announced that his estate, valued at $143.2 billion, will be placed in a charitable trust after his death. The trust will be overseen by his children, who have 10 years to allocate the money to charities of their choice.

Howard Buffett explained the decision to the Associated Press:

> “It’s not so easy to give away money if you want to do it smart, if you want to be intelligent about it. It’s pretty amazing that he’s giving us this opportunity.”

Prior to this plan, Warren had intended to donate his wealth to the Gates Foundation. He resigned as a board trustee in 2021 but continues to give annually to the foundation since 2006. He also supports the Susan Thompson Buffett Foundation, named after his late first wife.

Current Standing

According to Forbes’ real-time billionaires list, Warren Buffett is currently the ninth-richest person in the world. He trails behind figures such as Elon Musk, Larry Page, Sergey Brin, Jeff Bezos, Larry Ellison, Mark Zuckerberg, Bernard Arnault, and Jensen Haung.

The family’s journey from anonymity to public recognition illustrates how wealth can be both a private and a public matter. The upcoming charitable trust will further cement Warren Buffett’s legacy as a philanthropist.

Key Takeaways

• Warren Buffett’s billionaire status was a family secret until Peter discovered it in his 20s.
• The Buffett family’s philanthropic plan involves a $143.2 billion trust managed by the heirs for 10 years.
• Warren’s charitable focus has shifted from the Gates Foundation to a broader trust structure.
• The family’s history includes significant milestones: births in the 1950s, a separation in the 1970s, and a new marriage in 2006.
• Warren remains a prominent figure on Forbes’ richest-Americans list, ranking ninth worldwide.