Warren Buffett made an investment in a house around 61 years ago. He bought the home for just $31 thousand in 1958 and is still living at the same property.
With this, he has shown that he is still the same modest man he was before becoming a multi-billionaire. Even though recognized as the second richest man of the United States, he has also gained fame as some of the few billionaires who are down to earth.
Third Richest Person Of The World Warren Buffett Lives A Simple Lifestyle!!!
Despite having infinite money, Warren Buffett prefers to live a modest life. Though being the former owner of luxurious Laguna Beach house and Omaha home, he lives humbly in a historical house built-in 1921.
Buffett bought the accommodation for $31,500 in 1958 or around $250 thousand after adjusting inflation. The Omaha, Nebraska house is located in quiet neighborhood features in 6,570 square feet boasting 5 bedrooms and 2.5 bathrooms.
As per a source, Buffett regards the residence as his third-best investment ever made. As of 2019, the price of the house is estimated to be $625 thousand.
When asked about moving to the more extravagant place, he said, "I am happy here. I will move if I thought I would be happier someplace else. I’m warm in the winter, and I’m cool in the summer, it’s convenient for me. I couldn’t imagine having a better house."
Talking about living a luxurious lifestyle, he further added, "How would I improve my life by having 10 houses around the globe? If I wanted to become a superintendent of housing."
Why Does Billionaire Warren Buffett Still Live In The Same House He Bought For $31k In 1958?
In an interview with BBC, Warren Buffett answered:
“If I could spend $100 million on a house that would make me happier, I would do it. But for me, that’s the happiest house in the world. And it’s because it’s got memories.”
Well, that does not mean he is not addicted to luxury. He often visits different places on his private jet plane named The Indefensible. Warren Buffett owns a Gulfstream IV-SP powered by Rolls-Royce Tay 611-8 engine.
Who Is Warren Buffett?
Warren Buffett is an American Business tycoon, investor, and philanthropist. He is estimated to have a net worth of $86.9 billion, making him the third wealthiest person of the planet.
The 88 years old billionaire is arguably the most famous and successful investor of all time.
A source speculated, If you had invested $10,000 with Warren Buffett in 1966, today, you would have an income of more than $160 million.
He mainly gathered his net worth from his 18% interest in Berkshire Hathaway. He gains 98% of his net worth from the aforementioned investment. Besides that, he also owns around 300 thousand Class A stocks and 150 thousand Class B shares of several companies.
What Will Happen If Warren Buffett Dies?
Well, we would not actually want it to happen, but what will happen to the wealth of Warren Buffett if he dies now.
With the great feeling of charity, 88 years old Buffett has pledged to give away 99% of his net worth to the charity.
As per his signed will, around 83% of his fortune will be donated to the fund of The Bill and Melinda Gates Foundation, i.e. more than $72 billion, which would be the largest charity in human history.