Final answer:
Siddhartha Gautama, later known as the Buddha, renounced his princely life to achieve enlightenment and end suffering through the principles of the Four Noble Truths and the Eightfold Path. This quest was driven by his realization of life's inherent suffering and the potential for liberation from the cycle of rebirth.
Step-by-step explanation:
Siddhartha Gautama, who became known as the Buddha, divested himself of his past by renouncing his former life of luxury and privilege as a prince. This radical transformation occurred after he witnessed the suffering inherent in life - old age, sickness, and death. That experience motivated him to seek spiritual enlightenment. Siddhartha's new goal became the attainment of enlightenment (bodhi) and the cessation of suffering for all beings.
He achieved this through meditation and by following what he later taught as the Four Noble Truths and the Eightfold Path - understanding the reality of suffering, the causes of suffering, the potential to end suffering, and the path leading to the end of suffering. The Eightfold Path itself covers eight aspects such as right view, right intention, right speech, right action, right livelihood, right effort, right mindfulness, and right concentration. It provides a framework for leading an ethical and moral life to end the cycle of suffering and ultimately achieve Nirvana - a state that transcends desire and personal identity.