Warren Buffett calls himself ‘cheap’ for still living in the same house he purchased for $31,500—despite having $168 billion to his name
- Billionaire CEO of Berkshire Hathaway, Warren Buffett, is worth more than most people can fathom. However, he remains a penny-pincher who’s found happiness in the humble home he’s had for over 60 years.
In the first three months of 2025 alone, Warren Buffett’s wealth grew by some $26 billion—bringing his entire net worth to $168 billion, according to Bloomberg’s Billionaires Index.
However, contrary to what you might expect, the 94-year-old still keeps his dollars close—so much so that he used to drive a car with the license plate “THRIFTY.”
“I’m cheap,” he admitted to CBS News’ Norah O’Donnell.
What’s more, Buffett still lives in the same house he purchased in 1958 for a meager $31,500. The five-bed, two-and-a-half-bath home in Omaha, Nebraska, is 6,570 square feet and was built in 1921. Today, it is worth some $1.3 million, and it's a far cry from the luxury Buffett could be living in. If you divided its value by his current wealth, he could buy the home some 129,000 times over now.
Still, Buffett said he “wouldn’t trade it for anything” due to the memories of raising three kids on the property—highlighting an example of the age-old saying: Money can’t buy happiness.
Billionaires are split on whether to upsize or downsize their homes
Buffett’s preference for a humble abode is vastly different than some of his peers in the billionaire club.
Bill Gates, for example, has a seven-bed, 24-bath megamansion with a trampoline room, indoor pool, and sauna. In total, it is roughly 10x bigger than Buffett, but despite being a single, empty-nester, he has no plans to downsize.
“My house in Seattle, I admit, is gigantic. My sisters have downsized. I can’t. I like the houses I have,” Gates recently told The Times. “My kids like to come back—that is a luxury. I don’t cook, I don’t make my own bed, but I don’t mind if no one has made it—I wouldn’t notice.”
And while the richest man in the world, Elon Musk, has previously said he lives in a $50,000 home near SpaceX headquarters in Texas, The New York Times reported he recently purchased a $35 million family compound to house his over a dozen children. However, it's unlikely he has spent much time in either spot recently due to his Department of Government Efficiency (DOGE) duties in the Trump administration.
While Buffett prefers the Nebraskan tranquility, other billionaires are flocking to the beaches
Dozens of other billionaires are opting to live closer to the sunshine in states like Florida, where one area has been dubbed “Billionaire’s Beach.” Names like Donald Trump and Ken Griffin can be found on the property deeds next to homes on the market for up to $88 million.
A fan of the lavish lifestyle or not, what’s clear is that these billionaires can afford to do close to anything they want—and even the biggest of purchases might only put a dent in their net worth.
Buffett’s decision to keep his home in the suburbs of Nebraska, where the cost of living is far lower than New York City or Beverly Hills, is likely part of his strategy to only spend money when absolutely necessary.
This story was originally featured on Fortune.com
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