Unbelievably, the fifth richest man in the world still resides in the modest $31,500 home that he purchased as a young man.
That’s called being Thrifty to the next level.
According to the most recent version of the Forbes Rich List, Warren Buffett, who was once the richest man on earth, now has a net worth of over $100 billion.
He owns a business called Berkshire Hathaway, which is one of those firms that, while you may not have heard of it, you almost certainly have heard of the businesses it owns.
Do brands like NetJets, Fruit of the Loom, Duracell, and Dairy Queen come to mind?
If you add in the fact that he owns holdings in major corporations such as American Express, Apple, Coca-Cola, and Kraft-Heinz, you might start to get a sense of how wealthy the owner of the larger company is.
Buffett was born in Omaha in 1930, and unlike some of his fellow Rich List members, he still has a tendency toward thrift and a desire to stay close to his roots.
That means he has no plans to colonize other planets and does not reside in a massive space-age home in California that mere mortals or those with limited financial resources could only imagine.
No, he actually owns a home in Omaha, Nebraska, which he purchased for about $31,500 in the 1950s, a long time before he became so wealthy.
If we estimate that for 2022, he spent about $250,000, yet it’s still a tiny home for someone that wealthy.
Buffett has lived in the home since 1958, when he first purchased it.
He has previously stated that he “wouldn’t exchange it for anything” and that he “absolutely loves” living there.
It’s not his only property, of course, but from the sounds of things, it’s his first and favorite.
While for many right now, the chance would be a good thing, he believes that others would do well to follow he advise and purchase a home.
If you know you’re going to live in a certain place, or think it’s quite likely, for a significant amount of time and you have a family, the home is fantastic, he told CNBC.
Buffett added at the time that he considered this mansion to be his third finest investment of all time and that he had “gained 52 years of terrific memories [in it] with more to come.”
Over 6,570 square feet, the home offers five bedrooms and 2.5 bathrooms.
It is not at all little.
Although it is still a small home for a billionaire, Zillow’s current valuation of $1,240,000 indicates a respectable return should he decide to sell.
Buffett stated to BBC: “I’d relocate if I thought I’d be happier somewhere else, but I’m content where I am.
“How would having 10 properties around the world make my life better?
I could have pursued a career as a superintendent of housing, but I don’t want to be responsible for managing 10 homes, and I don’t see why I’d be happy if someone else did it.
“It’s convenient for me, keeps me warm in the winter and cool in the summer.
I am unable to envision a greater home.
That’s okay, then.