Warren Buffet: World's 3rd Richest Man Prefers To Live In The Modest Home He Bought In 1958 For $31,500
Considering the fact that he is worth $84 billion (as at February 11), Warren Buffet is probably one of the most modest billionaires you've ever met.
The 'Wizard of Omaha' and his 31k home
Buffet, as the third richest man in the world, can afford to live in any mansion or castle he chooses, but he still prefers to stay in the same modest home he purchased for $31,500 in 1958.
The 82-year-old business magnate has a stucco house in Omaha, Nebraska. Interestingly enough, he also does not have a gate or security guard for protection. In fact, it was reported that there are no surveillance cameras on the premises.
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Buffet's home was last valued at almost $700,000. He once referred to the purchase of the home as the third-best investment he has ever made (after the rings for both his wives), and it is from this location that the CEO runs his massive business empire.
The 6,570 sq feet property (which falls short of the definition of a mansion - 10,000 sq feet) has five bedrooms and 2.5 bathrooms. In the past 55 years, it has not really undergone major changes in renovation and appearance.
He was once asked why he never traded that home for a more luxurious version, and Buffet simply replied, saying he could not imagine being happier in any other place.
In the BBC interview, which he granted in 2016, he said:
How would I improve my life by having 10 houses around the globe? I don’t want to manage 10 houses, and I don’t want somebody else doing it for me, and I don’t know why the hell I’d be happier. I’m warm in the winter, I’m cool in the summer, it’s convenient for me. I couldn’t imagine having a better house.
Buffet is not completely against splurging for luxury. He had a super fancy vacation home in Laguna Beach, which he sold in the spring, of $4.3 million.
We have to say, Warren Buffet is a fascinating man. It just goes to show that no matter how much you do or don't have, the most important thing is to find what makes you happy and stick with it.