Warren Buffett explains why he still lives in house he paid $31,000 for decades ago
Despite having enough capital to snap up a small country, Warren Buffett prefers a more modest way of life.
The 95-year-old investor and philanthropist, who has been dubbed the 'Oracle of Omaha', continues to reside in the humble home he purchased nearly seven decades ago.
Don't get me wrong, it's still quite a plush property - as it sits on about 6,570 square feet, boasts five bedrooms and has two-and-a-half bathrooms.
But for a bloke who has a net worth which is just south of $150 billion, as per Forbes, it comes as a surprise to many that Buffett chooses to live there.
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The business tycoon purchased the pad in his hometown of Omaha, Nebraska, in 1958 when he was 28 years old, for just $31,500 (£23,600).
These days, Realtor.com estimates that the home where Buffet raised his three kids with his former wife Susan is worth more than $1.5 million.
That increase in value is another testament to the billionaire's investing acumen, however, Buffet has previously explained that in his eyes, the home is priceless.
He described the place as the 'third best investment' he has ever made in his life, coming only behind the 'wedding rings' he has bought, in a 2010 letter to his Berkshire Hathaway shareholders.
Which is saying a lot coming from a bloke who has made his fortune off sound investments, don't you think?
Buffett's firm, Berkshire Hathaway, boasts an incredible portfolio which includes behemoth companies like Coca-Cola, Duracell, Bank of America, Procter & Gamble, Mastercard Inc., Goldman Sachs and more.
He is supposed to retire as CEO at the end of the year, although he will stay on as the company's chairman.
The ridiculously rich magnate, who has promised to donate more than 99 percent of his wealth to good causes, previously spoke out about why he loves his Omaha home so much.
In 2009, he told the BBC: "I’m happy there. I’d move if I thought I’d be happier someplace else. I couldn’t imagine having a better house."
Buffett also addressed the reasoning behind his frugal way of life in 2017, as he told People that although he 'buys everything he wants', material objects don't bring him much joy in life.
He explained: "Would 10 homes make me more happy? Possessions possess you at a point.
"I don’t like a $100 meal as well as a hamburger from McDonald’s.
"That’s the way I’m put together, I don’t equate the amount I spend with the enjoyment I’m going to get from something."
Although Buffett has a few other properties in his portfolio, it's his Omaha home which holds the key to his heart.
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Olivia Burke