The Minimalist Billionaire: 7 Most Expensive Things Owned By Warren Buffet

Billionaire Warren Buffett likes to have a modest lifestyle and keep the money in the bank. Although he is one of the richest men globally, his most expensive things might shock people.

Warren Buffett began his career as an investor at the age of 11 when he became a player in the stock market. Known as the Oracle of Omaha, Buffett has been serving as the CEO of his company Berkshire Hathaway since 1970. Currently, he is on the tenth spot on the billionaire list with a net worth of $105.1 billion. Compared to other CEOs around the world, Buffett has a simple lifestyle that comprises living in the same home for decades, driving modest vehicles, and surrounding himself with simple technology. Spending money has never kept him true to his strategy to keep making investments. Today, he is a part-owner of almost every important company in the world due to his intelligent techniques and extensive knowledge on the subject.

Famous as a frugal billionaire, Buffett likes to lead a life with ordinary things that make him happy. The fact that he doesn’t own many mega-expensive items makes the list all the more interesting. Let’s take a look at the expensive things owned by Warren Buffett.

6 Intellectual Books

Warren Buffett counts books as one of his most prized possessions. He always has a pile of books by his chair, which gives a clear idea that the mogul has a sprawling library in his home. One of his secrets to success is reading every day to ensure that a person wakes up smarter and a little wiser every morning. According to Blinklist, in the early days of his career as an investor, Buffett read 600-1000 pages every day; however, he scaled back on time now and read at least 500 pages every day. He believes that the knowledge from books builds like compound interest which eventually gives returns in the future.

5 A Mobile Phone

Being one of the richest men globally, it might come as a surprise that Warren Buffett used a $20 flip phone called Samsung SCH-U320. His company Berkshire Hathaway owns 5.5% shares of Apple which convert to $72 billion. The mogul purchased an iPhone 11 in 2020, claiming that he has finally stopped using the flip phone. He primarily uses the phone for calling rather than its additional features and uses. It is a significant upgrade from his previous phone and has a starting price of $849.

4 Custom-made Suits

Another unique item on the list is the custom suits worn by Warren Buffett, which has an interesting story behind it. When Buffett was on a trip to China, his suit measurements were taken in his hotel room, and he was shown a few samples to choose from. It was later revealed that a Chinese designer Madame Lee was keen to give him a suit. He chose two suits and later met the designer. He only owns 20 custom suits to date that cost $700 to $5,000, unlike the billionaires who love splashing thousands of dollars on their custom suits. Buffett has close relations with Madame Lee, and she has also designed suits for Bill Gates, as stated by CNBC.

3 Real Estate

The Oracle of Omaha stood true to his roots and owned a beautiful home he purchased in 1958 for $13,500. It is now estimated to be worth $652,619. After his two marriages, Buffett claims the house to be the third-best investment of his life. The 6,570 sq. ft home features five bedrooms and two and a half bathrooms. The house comes with fences and security cameras for utmost safety. He did own property at Laguna Beach, California; however, he sold it for $7.5 million. He had purchased the property for his late-wife Susie. The home is an icon of simplicity, and he enjoys the quiet neighborhood in the place he grew up.

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2 A Minimal Car Collection

While the investor isn’t known for making hefty automobile purchases, Buffett has standard buying habits that include having one car in his garage. As mentioned by Motor Biscuit, Buffett owns a 2014 Cadillac XTS. CEO of General Motors Mary Barra convinced him to upgrade with this car and discontinue using the 2006 Cadillac XTS he initially drove. The 2014 model has a retail price between $44,600 and $69,095. Buffett isn’t big on driving his car, due to which his old car only had 19,000 miles on it. He had donated the Cadillac to a non-profit called Girls Inc. who auctioned the car for $122,500.

1 Private Jet

The priciest purchase on the list is a luxurious private jet owned by Warren Buffett. Purchased from NetJets, a company he owns under his Berkshire Hathaway organization. Buffett made a sensible decision and bought a used model of Bombardier Challenger that cost $850,000. Since he does a large amount of traveling to various locations, owning a private jet has been saving him a lot of time and money. Initially named The Indefensible, Buffett later changed the name to The Indispensable after realizing its value as a business tool, as stated by Forbes.

Even with the above-mentioned expenses, Buffett has only spent 0.01% of his entire net worth. He has plans to donate 99% of his wealth to charity, out of which he has managed to give away $39 billion until now. Buffett will also be leaving only $2 billion for each of his children so they would understand the value of hard-earned money.

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Sources: Blinklist, CNBC, Motor Biscuit, Forbes

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