Warren Buffett

Talk about living below one's mean.

The "Oracle of Omaha" Mr. Warren Buffet has been doing that for 52 years. That's almost half a century despite the fact that he's a billionaire, with 9 zeros.

Warren Buffett epitomizes living modestly in today's tough economic climate. Despite a $47 billion fortune, the legendary investor and the world's 3rd richest man lives in the same five-bedroom, gray stucco house he bought in Omaha, Nebraska's Happy Hollow suburb in 1958 for $31,500.

This folksiness is in line with his famous investing philosophy. "If you don't feel comfortable owning something for 10 years," he once told a reporter, "then don't own it for 10 minutes."

Few billionaires are as frugal. Even in these tough times, modesty is a relative term among the super rich.


Money Reasons said...

Warren is my financial hero! :)

I was floored when I first saw the house that Warren lived in!

I thought for sure he'd have a house on par with Bill Gates...

Warren truly is the best of the best!

Mike said...

Hey Mrs. Bee!

Great new look. That video on the bottom of your blog is off the hook. Hahaha!

Investing Newbie said...

I heart Warren Buffet. That's pretty much what I have to say about that.

Although that is his main residence, and it isn't a sprawling $100+M mansion off the Malibu coast, Warren isn't really that frugal. He just spends his money elsewhere, such as owning a sizeable amount of international properties, frequent travel, and heavy investing. I think it depends on what you consider as important. I would probably think he would be even more frugal if he flew coach rather than his private jet... but that would bring up a whole bunch of security issues, I guess.

Money Honey SF said...

Investing Newbie - Good point as to where his money is invested in other than his current home. But I still give kudos to him for keeping his primary residence. I know for sure if I had that kind of money, I would want to own my own island.

Mike - Thanks for the mad prop! Haaaa. It was your idea. I didn't know GaGa had a video about my name. :)

MoneyReasons - I was floored too. I had to do a double take. :)

Free From Broke said...

I'm not sure if it was Peter Lynch or Buffett or someone else that said you can tell a lot about a company by looking at the CEO's office. If it's all glitzy and full of uber expensive furniture then run away and don't invest in them. Kinda the same thought here with Buffett and his home.

youngandthrifty said...

Really??? Wow I didn't that's where he lived!!

Wow it's really true that the super rich are also super frugal.

Trump once said that he NEVER buys alcoholic drinks when he goes out for dinner because it's so expensive. Very true.. $9 for a martini is just.. highway robbery! =)

Money Honey SF said...

FreeFromBroke - I can see your point from your post but with all due respect I don't think that goes for real estate agents. Many of them have to win their customer's business by driving fancy expensive cars and their attires have to be super nice as well. So maybe this is when someone has to stay put and invest with them by buying or selling a house.

YoungAndThrifty - Interesting fact about Donald Trump. Thanks for sharing.