Warren Buffett is one of the wealthiest people in the world, with a net worth estimated at over $133 billion.
Despite his wealth, the legendary investor and Berkshire Hathaway Inc. CEO lives a frugal lifestyle, preferring the simple pleasures of a McDonald’s hamburger over extravagant dining.
“I buy everything I want in life,” Buffett said at the 2017 New York City premiere of the documentary “Becoming Warren Buffett,” according to People.com. “Would 10 homes make me more happy? Possessions possess you at a point. I don’t like a $100 meal as well as a hamburger from McDonald’s. That’s the way I’m put together, I don’t equate the amount I spend with the enjoyment I’m going to get from something.”
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This humble approach extends to Buffett’s transportation and housing. In a 2013 CBS News interview, Buffett was spotted driving around his hometown of Omaha, Nebraska, in a 2006 Cadillac. While being interviewed by journalist Rebecca Jarvis, he showed off his favorite places in the city, including the local McDonald’s. When Jarvis asked what he typically ordered there, Buffett replied, “Three times out of four, I get the sausage McMuffin. Lunchtime I get the Quarter Pounder and fries.”
Despite now driving a more recent 2014 Cadillac model, Buffett has never been one to flaunt his wealth with lavish vehicles. According to his daughter, he looks for hail-damaged cars to get the best deal.
The same goes for his living situation. Buffett still resides in the home he purchased in 1958 for $31,500, the equivalent of around $338,000 today — less than the price of the average home in 2024.
“I am happy in a pair of khakis and a sweater so I don’t need fancy clothes. I don’t need fancy food,” Buffett said.
Buffett’s frugal philosophy extends beyond his personal life. He has pledged to give away 99% of his wealth to philanthropic causes, and he lives on a salary of $100,000 per year from Berkshire Hathaway.
For Buffett, his immense wealth is not a source of lavish spending but a responsibility to use it wisely and give back to others. By modeling a life of simplicity and moderation, the Oracle of Omaha shows that true happiness and fulfillment come not from material possessions, but from within.
Buffett’s lifestyle offers a valuable lesson: Happiness is not directly proportional to wealth, but securing sufficient funds for a comfortable retirement remains essential. As the bar for retirement savings continues to rise, seeking guidance from a financial adviser gains importance. Such professional advice can help people establish a robust financial strategy, ensuring a worry-free enjoyment of their retirement years.
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This article Warren Buffett Says He Prefers A McDonald’s Burger Over A $100 Meal — His Typical Lunch Is A ‘Quarter-Pounder With Fries’ originally appeared on Benzinga.com
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Source: finance.yahoo.com