Even though he is recognised as the world's third richest man with a fortune of $46 billion, investor Warren Buffet, the 'Wizard of Omaha' still lives in the same modest home he bought in 1958 for $31,500.
Despite his wealth giving him almost limitless property options, the famously frugal and modest Buffet, 82, lives in a well-kept gray stucco house in the Dundee-Happy Hollow Historic Distrcit of Omaha, Nebraska.
There is no gate, no security guard and no surveillance cameras protecting the home of one of the most powerful men in the world and was last assessed as being worth $700,000 - although the billionaire believes that valuation to be optimistic.
Billionaire Warren Buffett still lives in the same home that he bought for $31,500 in the Dundee-Happy Hollow Historic District of Omaha, Nebraska where he was raised
CEO and chairman of Berkshire Hathaway, Buffet runs his multi-billion dollar empire from the 6,000 square-foot home which he calls the third best investment he ever made, after the rings he bought for his two wives.
The 'Oracle of Omaha' does not have a portfolio of homes, instead residing in the relative upper-middle class luxury of the home which he purchased for approximately $250,000 in today's dollars.
Known for his modest and frugal tastes Warren Buffett (left), CEO and chairman of investment company Berkshire Hathaway, attends the 25th anniversary dinner of the Economic Club of Washington in Washington in June
The home sits on a corner and was built in 1921 and does appear to have had some additions added over the past 55-years.
However, crucially, the property falls short of the definition of a mansion, which is usually considered to be 10,000 square feet.
According to Realtor.com, the home is valued at $652,619 and a neighbouring five-bedroom, six-bathroom, 3,848 square-foot house was put on the market for $450,000.
Indeed, the home is not even the highest valued on the block. Despite being slightly smaller, the house next door is valued by Realtor.com at $826,870.
Asked why he hasn't traded up for a more luxurious home, the billionaire was unequivocal.
It is reported that Warren Buffet also drives a simple unpretentious Lincoln Towncar similar to the one pictured here
'I’m happy there. I’d move if I thought I’d be happier someplace else,' he said in a BBC interview two years ago.
'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.'
'I’m warm in the winter, I’m cool in the summer, it’s convenient for me,' he said in the interview. 'I couldn’t imagine having a better house.'
However, Buffet does have a luxury vacation home in Laguna Beach which he sold in the spring of $4.3 million.
Forbes reports 'that's still less than one hundredth of a percent of his estimated net worth.'
The house sits on the ocean side of the Pacific Coast Highway on a private cul-de-sac. It has four bedrooms, four baths, and 3,100 square feet.
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