How Many Homes Does Warren Buffett Own?

You might expect Warren Buffett, one of the five wealthiest people on the planet, to own several opulent homes. On the contrary, he lives a relatively modest, even frugal, lifestyle.

Warren Buffett currently owns one home… and it doesn’t come close to qualifying as a mansion. While other billionaires show off their wealth, Buffett uses his money wisely. It makes him an even more interesting person on the world stage.

Warren Buffett’s Home

Warren Buffet and his first wife, Susan Thompson, purchased the Omaha home in 1958 for about $31,500 (approximately $250,000 in 2023 money).

He has continued living in the house ever since, although he currently resides there with his wife, Astrid Menks, who he married in 2006, two years after Susan’s death.

Where Does Warren Buffett Currently Live?

The Omaha property Buffett bought in 1958, long before he became a world-renowned investor, has five bedrooms and 2.5 bathrooms. It was built on a corner lot in 1921.

The stucco home has received some additions since its original construction, bringing its size to about 6,570 square feet. For comparison, Bill Gates lives in a 66,000-square-foot home. You could fit six of Buffett’s homes in the Gates’ property.

If the home sold on today’s market, the buyer would pay about $1.3 million. Interestingly, it isn’t the most expensive home on the block. A neighboring home has an estimated value of $1.5 million.

Warren Buffett’s Farm

Warren Buffett owns more than 242,000 acres of farmland in the United States, including a 1,500-acre family farm in Illinois. He also has three research farms in South Africa and Arizona.

Buffett has shown interest in farmland for most of his life. As a teenager, he bought $10,000 of Nebraska farmland.

Unlike his home, farmland seems to be an important financial investment. Land values have increased significantly over the last several decades.

Farms can also generate revenue by renting land to tenants. About 30% of American farmland is worked by someone other than the owner. People will always need food, so farmland is a solid opportunity for contributing to society while growing wealth.

Warren Buffett’s Vacation Home

Warren Buffett has always made Omaha his home base. But some wonder, for tax reasons, does Warren Buffett live in Florida? The short answer is no.

Previously, he and his first wife, Susan, enjoyed traveling to Southern California, so they purchased a property in Laguna Beach to make trips easier. The Laguna Beach vacation home was built in 1955, and it has several features commonly seen in midcentury houses, including an L-shaped fireplace. The 3,100-square-foot property has four bedrooms and four full baths.

Buffett and his wife paid about $150,000 in 1971, equal to approximately $1 million in today’s money.

Home values in Laguna Beach are much higher today than they were in the early 1970s. In 2017, he listed the home for $11 million and ended up selling it for $7.9 million in 2018.

Obviously, Buffett didn’t sell the home because he needed the money. He sold the property because he realized that he didn’t visit it very often since his first wife passed away. He didn’t want to have a home sitting unused on the beach, and he didn’t want to think about caring for a property he rarely saw. It made more sense to sell the home.

One of Buffett’s Best Investments

Buffett has called the Omaha home one of his best investments. That doesn’t mean it has made him much money. He could literally buy millions of similar properties.

Instead, he’s referring to the decades of memories made while living there. All three of his children grew up there, after all. Plus, Buffett says he can’t imagine that a different place would make him happier.

He has even commented that he would move if he found a place that would boost his happiness. Given his sentimental attachment to the property, a better location seems unlikely.

Buffett’s Approach to Wealth

Buffett doesn’t seem like a person who gains much value from possessing money. Instead, he finds value in what money can do. He has never been someone to participate in unnecessary luxuries.

Instead, he commonly eats breakfast at McDonald’s. He wears his suits until they show signs of age. And if you’re wondering what kind of car does Warren Buffett drive? He drives a modest car to work.

While some billionaires love the lavish things they can get with money, Buffett just doesn’t care about those things because they don’t improve his happiness.

He has also stated that while he could own 10 homes, he doesn’t want to manage 10 homes. This shows that Buffett takes a pragmatic approach to wealth. He wants money to do things for him. He doesn’t want to do things for his money. In his view, many people end up with possessions that own them, instead of the other way around.

Is Warren Buffett a Good Role Model?

Buffett focuses on using his wealth to do positive things in the world. In 2010, he and Bill Gates formed an organization called The Giving Pledge. The idea started in 2006 when Buffett committed to gradually giving all of his shares in Berkshire Hathaway to philanthropic foundations.

He explains that using more than 1% of his Berkshire Hathaway stock certificates wouldn’t improve his happiness or well-being. He has such enormous wealth that he can easily live on 1%. The rest of the money, however, has the potential to do enormous things in the world.

The Giving Pledge encourages other wealthy people to follow Buffett’s example.

How does Buffett spend his money? In 2022, he gave $48 billion to charities. Some of the organizations that have received large sums from him include The Bill and Melinda Gates Foundation, Sherwood Foundation, NoVo Foundation, Susan Thompson Buffett Foundation, and Howard G. Buffett Foundation.

In 2023, 236 people around the world had signed the Giving Pledge. The list of pledgers includes Elon Musk, Larry Ellison, MacKenzie Scott, Mark Zuckerberg, Carl Icahn, Tom Steyer, and George Lucas. Assuming everyone follows through with their pledges, the organization will help direct about $600 billion to philanthropic causes.

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