As the 5th richest person in the world with a fortune of 109 billion USD, the 92-year-old investment legend still maintains a frugal lifestyle.
Warren Buffett has been one of the top billionaires for many years. Currently, he is the 5th richest person in the world, owning a fortune worth 109 billion USD.
Despite his wealth, the famous investment legend is famous for being frugal. According to CNBC, this 92-year-old billionaire has lived in a modest house for the past 65 years.
This is a 5-bedroom house in the center of Omaha (Nebraska, USA). Buffett bought the house for 31,500 USD in 1958, equivalent to about 329,505 USD in today’s USD.
“He’s a man of integrity and he lives by his words,” said CNBC reporter Becky Quick, who has a longstanding relationship with Buffett and frequently interviews him.
In 2011, Buffett revealed the best investments he ever made in his life. Surprisingly, he didn’t mention the companies he bought or the stocks that made him billions.
Instead, Buffett said, “All things considered, the third best investment I ever made was buying a house, even though I would have made more money renting and using the money to buy stocks.”
The 7,000-square-foot home sits on a corner lot in Omaha, just a five-minute drive from Berkshire Hathaway’s corporate headquarters. It’s currently worth about $1.2 million, according to real estate site Zillow. Buffett has no plans to trade it for something more luxurious.
“I’m happy where I live. I would move if I thought I’d be happier somewhere else,” the billionaire said on a 2009 show.
Buffett said the house still functions well: “It’s warm in the winter, cool in the summer, it’s comfortable. I don’t think I could move to a better place,” he added.
Buffett is known for Buffett is not known for being a big spender. It wasn’t until 2020 that he traded in his $20 flip phone for an iPhone 11. In fact, Apple is the third-largest holding in Berkshire Hathaway’s portfolio.
He has also said that he never spends more than $4 on breakfast.
On his way to the office, he often grabs breakfast from McDonald’s and orders one of three items: two sausage patties for $2.61; sausage, egg and cheese for $2.95; or bacon, egg and cheese for $3.17.
In his annual letter to Berkshire Hathaway shareholders last week, founder Warren Buffett revealed that the secret to his company’s successful investing is not picking stocks but picking businesses.
Specifically, he and his associates have made investments in businesses with favorable long-term economic characteristics and trustworthy executives. This approach is called value investing, in which the goal is to hold on to top-performing stocks rather than trading stocks based on short-term price fluctuations, also known as active investing.
