Warren Buffett purchased his first stock at the age of 11 and hasn’t looked back on investments since that day. Through his smart investments and being the CEO of Berkshire Hathaway, one of the biggest multinational conglomerate companies in the world, he has amassed a whopping $75.6 billion fortune over the years. Nicknamed as the Frugal Billionaire for spending money in penny-pinching ways, the mogul has simple interests in life and barely spends any of his net worth on lavish expenses. One of the examples of his modest living is the house he purchased in his hometown in Nebraska, where he continues to live.
A home as modest as the man himself, his Nebraska abode defines a simple lifestyle that he follows along with his family to lead a positive life in a small city. Shunned away from expensive homes and splashy parties, let’s take a look inside billionaire Warren Buffet’s modest Nebraska home.
Third-Best Investment Ever Made
A son of a US politician, Warren Buffett grew up in Omaha, Nebraska, and grew an interest in investments. After studying at Columbia University, he returned to his hometown in 1965 to take majority control of Berkshire Hathaway Inc., where he now sits as the CEO. It became his primary investment tool, and he decided to settle down in his hometown. According to Business Insider, he purchased a modest home in 1968 for $31,500, now valued at $250,000. He also called the home the third-best investment he had ever made. The house is now worth $652,619.
Located on a quaint street, the suburban area has minimal traffic and offers Buffett the peace he enjoyed in Omaha from a young age. On Farnam Street, the home is less than
1.5 miles away from his childhood home at Barker Avenue. The home features a living complex spanning 6,570 sq. ft. of the area and a spacious front yard and backyard with manicured lawn and shrubberies. As mentioned by Go Banking Rates, the frugal mogul paid $43 per sq. ft. However, today the rates have gone up, and the home has currently valued at $161 per sq. ft.
A Quiet Home
With wedding rings being the top two investments and his home being the third, Buffett enjoys a quiet life in his abode. The house features five spacious bedrooms and two-and-a-half bathrooms, as stated by Fancy Pants Home. Additionally, it reportedly has a cozy living, kitchen, and a backyard patio. An intelligent investor, Buffett bought a home less than he could afford. He decided to put money into investments and savings instead of paying off the mortgage and added future expenses of maintaining a home.
A modest day in a modest home, Buffett has a normal routine in his home. While people would expect a billionaire to have a gourmet chef cook meals, he prefers to eat from fast food joints. The billionaire starts his day by ordering breakfast food from McDonald’s or eating on his way to the same office that he has been working at for the last sixty years. When he is relaxing at home, he likes to play a game of bridge with his friends and can play it for hours on end. He also practices his singing and strumming his ukulele as Buffett is known to be secretly good as a music artist.
Built For Secured Living
Going to the same office building for more than sixty years, he enjoys the normalcy of having a simple home. While the abode has a simple exterior, it is secured and gated with security cameras to ensure the utmost safety of the billionaire. The traditional stucco home has a wide driveway with parking space in the backyard to park his signature Cadillac cars. The house has been a safe getaway for Buffett, who prefers to live his life out of the public eye and enjoys working in finance.
Along with owning a home in Omaha, Nebraska, the investor previously owned a vacation home in California. Located in Laguna Beach, California, the home purchased three years after buying the Nebraska home in 1971 for just $150,000, valued at less than $1 million with today’s inflation. He put the house on sale in 2017 for $11 million; however, the price slashed to $7.5 million before selling it in 2018, as noted by LA Times
Warren Buffett has had a low-key lifestyle exemplified by his modest purchases in automobiles and real estate. He had initially stated that he would give away more than 50% of his Berkshire Hathaway shares to charity in 2006 and, a few years later, pledged that 99% of his wealth would be donated to charity until the rest of his life or at death.
Sources: Business Insider, Go Banking Rates, Fancy Pants Home, LA Times