Warren Buffett is the world’s third-richest man – see how the notoriously frugal billionaire spends his fortune

Warren Buffett is the world’s third-richest man – see how the notoriously frugal billionaire spends his fortune

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warren buffett

  • Warren Buffett’s estimated net worth is $88.3 billion.
  • But you wouldn’t know the investor is America’s third-richest man by his frugal lifestyle.
  • Buffett lives modestly and is one of the world’s most generous philanthropists, opting to give away most of his billions to charity.

Warren Buffett, America’s third-richest man, has increased his net worth by around $10 billion in the past year, according to the Forbes 400, which was released on Wednesday. But what else would you expect from the “Oracle of Omaha,” who began building his wealth at age 11?

Now 88, Buffett’s estimated net worth stands at $88.3 billion – but you wouldn’t know it by Buffett’s frugal ways.

Still living in the house he bought in the 1950s and driving an equally modest car, Buffett prefers to keep and grow his money rather than take it out of the bank. Not one for lavish purchases, he spends relatively little of his billions – except when it comes to philanthropy.

Buffett is regarded as one of the most generous philanthropists in the world, having donated more than $46 billion since 2000.

However he uses his money, not much is spent on himself. See how Buffett spends – or doesn’t spend – his billions.

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Warren Buffett has a net worth of $88.3 billion, making him the world’s third richest person.

Warren Buffett has a net worth of $88.3 billion, making him the world's third richest person.

Source: Forbes

He began building his wealth by investing in the stock market at age 11 and currently runs Berkshire Hathaway — but you wouldn’t know he’s a billionaire by the way he spends his money.

He began building his wealth by investing in the stock market at age 11 and currently runs Berkshire Hathaway — but you wouldn't know he's a billionaire by the way he spends his money.

Source: Forbes

He previously told CNBC and Yahoo Finance’s “Off the Cuff” that he’s “never had any great desire to have multiple houses and all kinds of things and multiple cars.”

He previously told CNBC and Yahoo Finance's "Off the Cuff" that he's "never had any great desire to have multiple houses and all kinds of things and multiple cars."

Source: CNBC

Buffett lives in a modest home in Omaha, Nebraska, which he bought for $31,500 in 1958. Adjusted for inflation, it was $250,000 in today’s dollars. It’s currently worth an estimated $652,619.

Buffett lives in a modest home in Omaha, Nebraska, which he bought for $31,500 in 1958. Adjusted for inflation, it was $250,000 in today's dollars. It's currently worth an estimated $652,619.

Source: Business Insider

In 1971, Buffett purchased a vacation home in Laguna Beach, California, for $150,000 — it’s currently listed for sale for $7.9 million.

In 1971, Buffett purchased a vacation home in Laguna Beach, California, for $150,000 — it's currently listed for sale for $7.9 million.

[“source=businessinsider”]