Those in the one percent typically have lifestyles that reflect their financial worth. Very few keep living a modest lifestyle and never let their new found wealth change their day to day routine. But that’s exactly what billionaire Warren Buffett has done. In Buffett’s case, he bought a house for a very modest amount in the 50s in Omaha, Nebraska, where he still lives, quite remarkably, without all the luxury and extravagance you’d expect.
And he likes it that way, thank you very much.
Buffett purchased the home in 1958 for $31,500, which is equivalent to around $250,000 today. The home is now worth an estimated $652,619 and Buffett believes it’s the “third-best investment he’s ever made.”
Make no mistake, the home is spacious and well guarded, coming in at 6,570 sq. feet with 5 bedrooms and 2.5 bathrooms. There are also fences and security cameras around the property for additional safety. It’s by no means a mansion, as you would expect Buffett to reside in. It’s lovely, but not a sprawling estate.
He’s totally content with the modest house, telling BBC’s Evan Davis in “The World’s Greatest Moneymaker”: “I’m happy there. I’d move if I thought I’d be happier someplace else.”
He added: “How would I improve my life by having 10 houses around the globe? If I wanted to become a superintendent of housing… I could have as a profession, but 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. “
He’s got a very practical approach to his no-frills home ownership, explaining: “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.” Would more could you ask for, honestly?
During a 2012 interview, Buffett further explained why he lives in and has an office in Omaha, saying: “Well, you know, I was born here. I’ve always been happy here. I’ve lived various other places — Washington D.C., New York… It’s home. And I live five minutes from here. I’ve lived in the same house for 53 years. I’ve been in this building for 50 years. My car just automatically drives back and forth (LAUGHS). If I try to take it anyplace else, it won’t go.”
He further noted how material items aren’t that all that valuable to him, saying: “I have every possession I want. I have a lot of friends who have a lot more possessions. But in some cases, I feel the possessions possess them, rather than the other way around.”
People weighing in with comments on social media were impressed with the billionaire’s modest accommodations, with one person noting: “This is so nice to see that when you can have whatever you want one can be satisfied with just some modest things. Knowing that you can and helping others is much more gratifying.”
Another commenter explained: “Yeah, well considering that he’s worth billions he could have spent half a billion easy on a house… with a ranch…. on a private island.”
One commenter pointed out: “Though he has the means, Buffett doesn’t live ostentatiously like many millionaires and billionaires. Buffett is a smart, unpretentious gentleman — unlike the current occupant of the White House.”