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March 11, 2015

Warren Buffett Still Lives in the Omaha, Nebraska Home he Bought in 1958 for a Modest $31,500

Warren Buffett is the chairman and CEO of Berkshire Hathaway and is worth an estimated $68 billion according The Motley Fool. Time Magazine named him one of the most influential people worldwide. Despite being one of the wealthiest people in the world, he still lives in the Omaha, Nebraska home that he purchased in 1958. The house was in the same area where Buffett grew up. He paid $31,500 for the house, which is just over $250,000 today. Buffett refers to it as his third best investment after only wedding rings, as his family has enjoyed over 50 years of memories in the home with more to come. Buffett did not buy the home as a financially motivated investment.

In its current state, the stucco home has five bedrooms and 2.5 bathrooms, with a total of approximately 6,000 square feet. The home is only five minutes away from the headquarters of Berkshire Hathaway. Buffett genuinely loves life in Omaha, telling the Associated Press "If I had to live some other place I'd be fine doing it, but I can't think of a better place to live than Omaha" and "In some places it's easy to lose perspective...It's very easy to think clearly here. You're undisturbed by irrelevant factors and the noise generally of business investments." Still modest for a billionaire, it was last appraised for $700,000 in 2003.

Buffett’s Omaha home was not his only residence. Forbes Magazine reports that the billionaire also owned a vacation home in Laguna Beach, California, which he bought in 1996 for $1.1 million and sold in 2005 for $5.45 million.


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