He may be one of the world’s wealthiest individuals, but Warren Buffett doesn’t throw money around needlessly. The man known as the "Oracle of Omaha" still lives in a comfortable stucco house in the Dundee-Happy Hollow Historic District of Omaha, Nebraska, which he bought in 1958 for $31,500 USD, equivalent to $250,000 in today's dollars.
The Berkshire Hathaway chairman and CEO lives in a regular neighborhood -- considered upscale by Omaha standards, at 6,000 square feet (557 square meters) -- but it’s not a mega-mansion located in some high-end gated community, with security surveillance everywhere, as one might expect of a billionaire's residence.
Living the good life in Omaha:
- Realtor.com valued the property at $652,619 USD in 2013. The large Dutch Colonial was built in 1921, and sits on a nice, tree-filled corner lot.
- “I’m happy there,” says the billionaire. “I’d move if I thought I’d be happier someplace else. How would I improve my life by having 10 houses around the globe?”
- Buffett used to own a vacation home in Laguna Beach, on the ocean side of the Pacific Coast Highway. He sold it in 2012 for $4.3 million USD.
Frequently Asked Questions
Does Warren Buffett live in a huge mansion?
No, Warren Buffett does not live in a huge mansion. Despite his immense wealth, Buffett is known for his frugal lifestyle. He resides in a modest home in Omaha, Nebraska, which he purchased in 1958 for $31,500. The house, often described as "surprisingly normal," is a 6,570-square-foot, five-bedroom stucco house that is far from the sprawling estates typically associated with billionaires.
How much is Warren Buffett's house worth today?
Warren Buffett's house has appreciated in value over the years and is estimated to be worth around $650,000 to $700,000 today, according to local real estate estimates. This valuation is relatively modest compared to the luxury homes of many other high-net-worth individuals. Buffett himself has often joked that he has everything he needs in his home, underscoring his preference for a simple lifestyle.
Why does Warren Buffett choose to live in a modest home?
Warren Buffett chooses to live in a modest home because he believes in living a life that does not flaunt his wealth. He has often spoken about the importance of not wasting money on things that don't provide him with proportional happiness. Buffett's philosophy is to invest in things that matter and to remain grounded, despite his financial status. This approach reflects his broader investment principles of value and frugality.
Has Warren Buffett made significant upgrades to his Omaha home?
While Warren Buffett has made some renovations to his Omaha home over the years, such as security upgrades due to his high profile, he has not transformed it into a lavish mansion. The house remains relatively unchanged from when he bought it, with no ostentatious additions. This aligns with Buffett's principle of living within one's means and not succumbing to unnecessary extravagance.
What other real estate does Warren Buffett own?
Warren Buffett's personal real estate portfolio is not extensive. He has owned a vacation home in Laguna Beach, California, which he purchased in the early 1970s and sold in 2018. Aside from his primary residence in Omaha and the now-sold California property, Buffett's investments are primarily through his company, Berkshire Hathaway, which includes significant holdings in real estate companies and trusts, rather than personal real estate assets.