People in the top one percent usually live in ways that show how much money they have. Few people keep living a simple life and don’t let their newfound wealth change how they live.
But that’s exactly what Warren Buffett, who is worth a lot of money, has done. In the 1950s, Buffett bought a small house in Omaha, Nebraska, for a very low price. He still lives there today, despite the fact that it doesn’t have all the luxury and extravagance you might expect.
And thank you very much, he likes it that way.
In 1958, Buffett bought the house for $31,500, which would be about $250,000 today. The house is now worth about $652,619, and Buffett says it was his “third-best investment” ever.
Don’t get me wrong, the house is big and well protected. It has 5,570 square feet, 5 bedrooms, and 2.5 bathrooms.
Around the property, there are also fences and security cameras for added safety. It’s not a mansion, which is what you might think Buffett lives in. It’s beautiful, but it’s not a huge estate.
In “The World’s Greatest Moneymaker,” BBC reporter Evan Davis quotes him as saying, “I’m happy there. If I thought I’d be happier somewhere else, I’d move.”
He also asked, “How would having 10 homes around the world make my life better?” If I wanted to be a housing manager, I would…
I could have done it as a job, but I don’t want to manage 10 houses and I don’t want someone else to do it for me, and I don’t know why the hell I’d be happier.
He has a very practical way of looking at his simple home, saying, “I’m warm in the winter, I’m cool in the summer, and it’s convenient for me.” I couldn’t think of a better place to live.” Really, what else could you ask for?
In an interview in 2012, Buffett talked more about why he lives and works in Omaha. He said, “Well, you know, I was born here. This place has always made me happy.
I’ve lived in Washington, D.C., New York, and other places. It’s where we live. And I only live five minutes away. For 53 years, I’ve lived in the same house.
I’ve lived here for fifty years. My car just goes back and forth by itself. It won’t go anywhere else I try to take it.”
He also said that material things aren’t that important to him. “I have everything I want,” he said. A lot of my friends have a lot more stuff than I do. But sometimes I feel like their things own them instead of the other way around.”
People who commented on social media were impressed by the billionaire’s simple living arrangements. One person said, “It’s nice to see that when you can have anything you want, you can be happy with just a few simple things.” It’s much more satisfying to help others and know that you can.”
Another commenter said, “Yeah, well, he’s worth billions, so he could have easily spent $500 million on a house with a ranch on a private island.”
One person said, “Even though he has the money, Buffett doesn’t live in a showy way like many millionaires and billionaires do. Buffett is a smart, humble man, unlike the person who lives in the White House right now.