If Warren Buffett’s Son Didn’t Sell His 90K Berkshire Hathaway Inheritance 47 Years Ago To ‘Buy Time,’ He Would Have This Much Today

Peter Buffettson of the legendary investor Warren BuffettHe made a life-changing decision 47 years ago when he traded his inheritance to “buy time.” And even though he lost what could have been hundreds of millions of dollars in profits, he stands by his choice, confident that his father would approve.

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Finding his way: At age 19, Buffett received a portion of the proceeds from the sale of his grandfather’s farm, which his father had invested in Berkshire Hathaway (NYSE:BRK) (NYSE:BRK), which was worth $90,000, according to cnbcHis father made it clear that this was all the financial support he would receive for his personal use. Despite knowing that this was his entire inheritance, Peter sold his Berkshire shares to finance his passion for music.

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Buffett dropped out of Stanford University, bought a modest studio apartment in San Francisco, invested in upgrading his recording equipment, and devoted his time to honing his piano playing and music production skills.

His big break came unexpectedly when a neighbor asked him what his profession was, setting him on the path to a successful career in music.

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He told his neighbor he was a “struggling composer,” and the neighbor offered to introduce him to his brother-in-law, an animator looking for commercial tunes for a new cable station—which turned out to be MTV.

Buffett is now 66 years old and has released about 15 studio albums during his successful career.

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The path not taken: If the legendary investor’s son had stayed in college and kept his $90,000 investment in Berkshire Hathaway, his investment today would be worth more than $400 million.

“But I didn’t make that choice and I don’t regret it for a moment. I used my savings to buy something infinitely more valuable than money: I used it to buy time,” Buffett said.

He noted that this decision would be a source of pride for his father. The billionaire taught his son that work is not about making as much money as possible, but about doing something you love.

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Buffett admitted that the money was a privilege, describing it as a gift he did not deserve.

“Without those hundreds of unpaid hours I spent tinkering with my recording equipment, I would never have been able to find my voice or my approach,” Buffett said.

The musician used the money to buy time to pursue something he enjoyed waking up and doing every day, which is exactly what his father advised young people to do. The billionaire has previously advised people to pursue the careers they want even if money isn’t part of the decision-making process.

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This story is part of a new series of articles on the topic of success, Gasoline inspiration. Some elements of this story were previously published by Benzinga and have been updated.

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This article If Warren Buffett’s son hadn’t sold his $90,000 inheritance from Berkshire Hathaway 47 years ago to “buy time,” he’d have that much money today. Originally appeared on Benzinga.com