Warren Buffett says ‘accumulating great amounts of money’ doesn’t achieve greatness—He still lives in a $31,500 Nebraska home and clipped coupons
“Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government,” Buffett wrote in his final Berkshire Hathaway shareholder letter last November.
Key points
- One time, the entrepreneurial pair were at a McDonald’s in Hong Kong, and Gates recalled laughing when Buffett offered to foot the measly bill, pulling coupons out of his pocket.
- Known for eating at McDonald’s, driving a beat-up old car, and living in his modest Nebraska home, it’s clear his bank account hasn’t changed his ways.
- Instead of feeling powerful by lavishing in the spoils of his riches, Buffett finds true value and greatness in non-material pursuits.
The former CEO still lives in the same five bedroom, two-and-a-half bathroom Omaha home he bought for $31,500 back in 1958.
Additional details
- And at one point, his license plate even read as “THRIFTY.” Whether it be mansions or sports cars, Buffett steers clear of making major purchases that reflect his bank account.
- But billionaire investing mogul Warren Buffett hit back at the notion that eye-watering net worths equate to excellence.
- “I do not think that standard of living equates with cost of living beyond a certain point,” Buffett said at a Berkshire Hathaway shareholders meeting in 2014.
- But the investing magnate isn’t interested in getting behind the wheel of a Lamborghini or Aston Martin; he once drove a 20-year-old car because he felt it was safer than driving a speedy luxury alternative.
- The Berkshire Hathaway icon is known for stopping by McDonald’s for a cheap eat, choosing to order two sausage patties, an egg and cheese, or a bacon egg and cheese—all less than $4.
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