Warren Buffett’s son reveals he had no idea his father was a billionaire until his 20s—and his friends were equally surprised

Warren Buffett is closely linked to ambition, success, and . The ex-CEO was once the planet’s wealthiest person—infamously so in 2008 with a $62 billion net worth—and held that position for a considerable period.

Yet one of the people nearest to him had no clue about Buffett’s immense wealth and success: his own son, Peter Buffett.

Peter, now 67, didn’t grasp his father’s standing until he was in his 20s. This realization came when he spotted his dad’s name on the Forbes list of the richest Americans, according to a 2013 Forbes interview featuring both Peter and Warren Buffett.

“I’m not kidding. It was when I was in my 20s that my mom and I talked at some point, because there he was, on this list,” Peter said. “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 is the youngest of Warren Buffett’s three kids with his first spouse, Susan Alice Buffett. An American musician, composer, author, and philanthropist, he has won a regional Emmy Award, become a New York Times best-selling author, and served as co-chair of the NoVo Foundation. But Peter recalled that conversation with his mom, which had little impact on his outlook or perception of his family.

“It was a fascinating switch, although not a huge one because we didn’t live in that world or a cultural framework where there was a lot of wealth being shown,” Peter said. “Our friends were as surprised as I was.”

Warren Buffett backed up his son, noting that by the time his children discovered just how rich he was, they had already formed their own personalities and life paths.

“The kids were formed by that time, and they knew who their friends were, and their friends were their friends because they liked ’em, and not because they were the rich kid on the block or anything of the sort,” Warren Buffett said.

Warren Buffett’s Net Worth and Perspective on Money

While Warren Buffett may no longer be the world’s richest man, he remains a billionaire—about $145 billion in net worth—making him the 10th wealthiest person globally.

Even so, Buffett has never been someone who brags about money—and it’s not how he defines success.

“Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government,” Buffett his final shareholder letter published in November.

The 95-year-old “ of Omaha,” known as one of the most successful investors of all time, leads an extremely frugal life. He eats at McDonald’s, drives a worn-out old car, and still lives in his modest Nebraska home, which he bought for just $31,500 in 1958. His license plate once read “THRIFTY.” Instead, he says he prioritizes helping others using his , which he will eventually pass down to his children for their respective philanthropic organizations.

“When you help someone in any of thousands of ways, you help the world,” Buffett wrote. “Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior…Keep in mind that the cleaning lady is as much a human being as the Chairman.”