The home is quite modest for a billionaire. But Warren Buffett has nothing but love for his longtime family house in Omaha, Nebraska.
Named one of the most successful investors in the world, one might assume that Warren Buffett lives in the lap of luxury.
But, in fact, the billionaire owns a modest house that is worth 0.001 percent of his total wealth. Here’s the full scoop on the Omaha, Neb. house that Buffett has lived in and loved for six decades.
The Omaha house that was the birthplace of Warren Buffett’s business is hitting the market just ahead of the annual Berkshire Hathaway shareholders meeting.
With a net worth of $105.2 billion, the world’s 10th wealthiest person continues to live in the same house he bought in 1918, well before he amassed his fortune.
The home was built in 1918 by architect Frederick A. Henninger, who built a number of homes, apartments, and commercial buildings in the early 1900s, said Jessica Dembinski, a real estate agent with Berkshire Hathaway Home Services.
Make no mistake, the home is spacious and well-guarded, coming in at 6,570 sq. feet with 5 bedrooms and 2.5 bathrooms. There are also fences and security cameras around the property for additional safety. It’s by no means a mansion, as you would expect Buffett to reside in. It’s lovely, but not a sprawling estate.
For six decades, Buffett has lived in the same residence in the central Dundee neighborhood of Omaha, Neb. The “Oracle of Omaha” purchased the home for $31,500, which would be worth about $250,000 in today’s dollars.
“I wouldn’t trade it for anything,” Buffett told CNBC of his modest house.
The self-made billionaire went on to say that real estate is a valuable asset “for a great many people.”
He added: “If you know you’re going to live in a given area, or think it’s very likely, for a considerable period of time and you’ve got a family, the home is terrific.”
As it turns out, the house was the “third-best investment” he’s ever made, Buffett wrote in a letter to his shareholders in 2010.
Zillow estimates the property’s value at $1,240 million, which is a highly modest amount for the chairman and CEO of Berkshire Hathaway — a multinational conglomerate holding company that manages assets worth north of $873 billion.
As it turns out, the Buffett residence isn’t even the most expensive house on the block. In fact, the home next door is smaller in size but was estimated to be worth $200k more than Warren Buffett’s house, CNBC reports.
Watch the video below for more details: