[proofplan]
For each fixed point $x \in M$, we study the real-valued function $t \mapsto t - d_g(x,\rho(t))$. The triangle inequality and the ray property show that this function is monotone increasing and bounded above, so the Busemann limit exists. Each approximating function $x \mapsto t - d_g(x,\rho(t))$ is $1$-Lipschitz by the [reverse triangle inequality](/theorems/2300), and passing to the limit preserves the Lipschitz bound. Finally, evaluating on the ray uses exactly the minimizing identity $d_g(\rho(s),\rho(t)) = t-s$ for $t \ge s$.
[/proofplan]
[step:Prove that the defining limit exists at every point]
Fix $x \in M$. Define
\begin{align*}
F_x: [0,\infty) &\to \mathbb{R} \\
t &\mapsto t - d_g(x,\rho(t)).
\end{align*}
Let $0 \le t_1 \le t_2$. Since $\rho$ is a ray,
\begin{align*}
d_g(\rho(t_1),\rho(t_2)) = t_2 - t_1.
\end{align*}
By the triangle inequality for $d_g$,
\begin{align*}
d_g(x,\rho(t_2))
&\le d_g(x,\rho(t_1)) + d_g(\rho(t_1),\rho(t_2)) \\
&= d_g(x,\rho(t_1)) + t_2 - t_1.
\end{align*}
Rearranging gives
\begin{align*}
t_1 - d_g(x,\rho(t_1)) \le t_2 - d_g(x,\rho(t_2)),
\end{align*}
so $F_x$ is monotone increasing.
The reverse triangle inequality applied to the points $x$, $\rho(0)$, and $\rho(t)$ gives
\begin{align*}
d_g(x,\rho(t)) \ge d_g(\rho(0),\rho(t)) - d_g(x,\rho(0)).
\end{align*}
Since $\rho$ is a ray, $d_g(\rho(0),\rho(t)) = t$, hence
\begin{align*}
F_x(t)
= t - d_g(x,\rho(t))
\le d_g(x,\rho(0)).
\end{align*}
Thus $F_x$ is monotone increasing and bounded above in $\mathbb{R}$, so the limit
\begin{align*}
\lim_{t \to \infty} F_x(t)
\end{align*}
exists and is finite. Therefore $b_\rho(x)$ is well-defined for every $x \in M$.
[guided]
Fix a point $x \in M$. The definition of $b_\rho(x)$ requires a limit as the parameter point $\rho(t)$ moves out along the ray, so we first prove that the real-valued function being limited has a finite limit. Define
\begin{align*}
F_x: [0,\infty) &\to \mathbb{R} \\
t &\mapsto t - d_g(x,\rho(t)).
\end{align*}
The key point is that increasing $t$ moves farther along a minimizing ray. Let $0 \le t_1 \le t_2$. Since $\rho$ is a ray, the segment from $\rho(t_1)$ to $\rho(t_2)$ has distance exactly equal to its parameter length:
\begin{align*}
d_g(\rho(t_1),\rho(t_2)) = t_2 - t_1.
\end{align*}
The triangle inequality gives
\begin{align*}
d_g(x,\rho(t_2))
&\le d_g(x,\rho(t_1)) + d_g(\rho(t_1),\rho(t_2)) \\
&= d_g(x,\rho(t_1)) + t_2 - t_1.
\end{align*}
After moving terms to the other side, this becomes
\begin{align*}
t_1 - d_g(x,\rho(t_1)) \le t_2 - d_g(x,\rho(t_2)).
\end{align*}
Thus $F_x(t_1) \le F_x(t_2)$ whenever $t_1 \le t_2$, so $F_x$ is monotone increasing.
A monotone increasing function has a finite limit if it is bounded above. The upper bound comes from the reverse triangle inequality. Applied to $x$, $\rho(0)$, and $\rho(t)$, it gives
\begin{align*}
d_g(x,\rho(t)) \ge d_g(\rho(0),\rho(t)) - d_g(x,\rho(0)).
\end{align*}
Because $\rho$ is a ray starting at $\rho(0)$,
\begin{align*}
d_g(\rho(0),\rho(t)) = t.
\end{align*}
Therefore
\begin{align*}
F_x(t)
= t - d_g(x,\rho(t))
\le t - \bigl(t - d_g(x,\rho(0))\bigr)
= d_g(x,\rho(0)).
\end{align*}
So $F_x$ is monotone increasing and bounded above by the finite number $d_g(x,\rho(0))$. Hence
\begin{align*}
\lim_{t \to \infty} F_x(t)
\end{align*}
exists in $\mathbb{R}$. This proves that $b_\rho(x)$ is well-defined for the chosen point $x$, and since $x \in M$ was arbitrary, $b_\rho$ is defined on all of $M$.
[/guided]
[/step]
[step:Pass the Lipschitz bound from the distance approximants to the limit]
For each $t \ge 0$, define
\begin{align*}
B_t: M &\to \mathbb{R} \\
x &\mapsto t - d_g(x,\rho(t)).
\end{align*}
Let $x,y \in M$. The reverse triangle inequality for $d_g$ gives
\begin{align*}
|d_g(x,\rho(t)) - d_g(y,\rho(t))| \le d_g(x,y).
\end{align*}
Therefore
\begin{align*}
|B_t(x) - B_t(y)|
&= |d_g(y,\rho(t)) - d_g(x,\rho(t))| \\
&\le d_g(x,y).
\end{align*}
Taking the limit as $t \to \infty$ and using the already established pointwise convergence $B_t(z) \to b_\rho(z)$ for each $z \in M$, we obtain
\begin{align*}
|b_\rho(x) - b_\rho(y)| \le d_g(x,y).
\end{align*}
Since $x,y \in M$ were arbitrary, $b_\rho$ is $1$-Lipschitz.
[/step]
[step:Evaluate the Busemann function along the ray]
Fix $s \ge 0$. For every $t \ge s$, the ray property gives
\begin{align*}
d_g(\rho(s),\rho(t)) = t-s.
\end{align*}
Hence, for every $t \ge s$,
\begin{align*}
t - d_g(\rho(s),\rho(t))
= t - (t-s)
= s.
\end{align*}
Taking the limit as $t \to \infty$ yields
\begin{align*}
b_\rho(\rho(s)) = s.
\end{align*}
Because $s \ge 0$ was arbitrary, the identity holds for all $s \ge 0$. This completes the proof.
[/step]