From $3 McDonald's Lunches to $18 Haircuts: The Modest Lifestyle of Warren Buffett

Warren Buffett is one of the wealthiest men globally; nonetheless, the renowned investor has upheld a humble and economical lifestyle that belies his net worth of US$154 billion. How does the millionaire allocate his wealth?

Warren Buffett

Unassuming excursions and one extravagant indulgence

Warren Buffett has never been recognized for ostentatious automobiles. For almost ten years, he used a 2001 Lincoln Town Car with the customized license plate "THRIFTY."

Following its auction for charity, he transitioned to a 2006 Cadillac DTS and subsequently upgraded to a Cadillac XTS in 2014. He informed Forbes that he seldom purchases a new vehicle as he drives approximately 3,500 miles annually.

Although he maintains a minimalist approach while traveling, Buffett acquired a pre-owned Falcon 20 private jet for $850,000 in 1986. Three years later, he sold it and expended $6.7 million on another pre-owned jet, which he and his long-time business associate Charlie Munger humorously referred to as "The Indefensible."

A compilation of Ukuleles

According to Business Insider, Buffett is a passionate bridge player, often dedicating over eight hours per week to the card game.

He also takes pleasure in golfing and dedicates a significant portion of his time to reading. He possesses a fervor for the ukulele and, as disclosed in 2020, owns 22 instruments.

He gave 17 Hilo ukuleles to the North Omaha office of the nonprofit Girls Inc. and personally conducted a group session.

Flip phones, Chinese clothes, and $18 haircuts

Notwithstanding Berkshire Hathaway's substantial investment in Apple, he utilized a Samsung SCH-U320 flip phone for several years. In 2020, he ultimately transitioned to an iPhone, however continues to utilize it solely "as a phone."

In the realm of fashion, he possesses approximately 20 suits, all tailored by Chinese designer Madame Li, with whom he has cultivated a close bond over the years.

Buffett's frugality also encompasses grooming, as he periodically spends $18 on a haircut at a barbershop situated in his office building.

McDonald's and Coca-Cola

Buffett begins most mornings with a $3.17 meal at McDonald's en route to the office.

His preferred meal typically alternates among three choices: two sausage patties, a sausage, egg, and cheese sandwich, or a bacon, egg, and cheese sandwich. He consistently accompanies it with a Coca-Cola.

In 2015, he said Fortune, "I consume food akin to a six-year-old," and noted his tendency to drink five 12-ounce Cokes each day. If I consume 2,700 calories daily, one-fourth of that comprises Coca-Cola. I perform this task daily.

A residence acquired in the 1950s

Buffett resides in a modest residence in Omaha, Nebraska, acquired in 1958 for $31,500, equivalent to approximately $342,000 today.

The 6,280-square-foot (583 square meters) property features five bedrooms and has been fortified with security measures, including fence and surveillance cameras. Its current valuation is approximately $1.4 million.

He previously characterized it as the "third-best investment" he had made in a letter to the stockholders of his company, Berkshire Hathaway.

Besides his main estate, Buffett once possessed a six-bedroom vacation property in Laguna Beach, California. Acquired in 1971 for $150,000, it underwent renovations before to its sale in 2018 for $7.5 million.

A tradition of charitable giving

Buffett is considered one of the most magnanimous philanthropists globally. Over the course of nearly two decades, he has contributed in excess of $60 billion in Berkshire Hathaway shares, which would currently be valued at approximately $230 billion.

Had Buffett retained those shares instead of donating them, his net worth would have approached $400 billion by the end of this April, as reported by Bloomberg. This would position him above Elon Musk, the current wealthiest individual globally, with a net worth of $335 billion.

Buffett has committed to donating 99.5% of his wealth to a charitable trust administered by his three children upon his demise.

"Were we to use more than 1% of my claim checks on ourselves," he once said, referring to shares of his company.

"Neither our happiness nor our well-being would be enhanced. In contrast, that remaining 99% can have a huge effect on the health and welfare of others."