Despite having the financial resources to purchase any vehicle, billionaire investor Warren Buffett continues to use a modest car with an interesting history.
Despite being the sixth richest person in the world, Warren Buffett continues to drive a 2014 Cadillac XTS he bought with hail damage.
Although he can afford any luxury vehicle, Buffett prefers the practicality of his ten-year-old car. His daughter, Susie, was sent to purchase this vehicle in 2014 to replace his previous 2006 Cadillac DTS, which had only 20,000 miles on the odometer.
Do not miss it:
Susie revealed in a BBC documentary that her father’s frugality extends to purchasing cars with cosmetic damage, which are more affordable and functional once repaired.
Buffett’s approach to car ownership reflects his broader prosperity and consumption philosophy. He believes that further spending does not improve his quality of life beyond a certain comfort level.
At one Berkshire Hathaway During the meeting, Buffett said, “I have everything in life that I want.” This practicality also extends to his time; Buying a new car is seen as an avoidable time-consuming task.
Warren Buffett’s frugality has been a consistent theme in his life, reinforcing his belief that extra spending has diminishing returns on happiness. His lifestyle choices extend beyond vehicles and even touch where he lives. Buffett still lives in a house he bought in Omaha, Nebraska, in 1958 for $31,500. The modest home, coupled with his modest car, underlines a conscious approach to simplicity.
Moreover, his investment philosophy is in line with his personal values. Buffett, by Berkshire Hathaway Inc. (NYSE:BRK), has often emphasized the importance of investing in undervalued but fundamentally strong companies. His loyalty to thrift can also be seen in his personal life and professional investments.
Also notable is Buffett’s philanthropy. In recent years, he and other billionaires have, among others Bill Gates of Microsoft (NASDAQ:MSFT), pledged to give away at least half of their wealth in a campaign known as the Giving Pledge that started in 2010. This reinforces his view of wealth and its efficient use for the common good.
Keep reading:
“SECRET WEAPON OF ACTIVE INVESTORS” Boost your stock market game with the #1 trading tool for “news & everything else”: Benzinga Pro – Click here to start your 14-day trial now!
Want the latest stock analysis from Benzinga?
This article Warren Buffett Drives 10-Year-Old Cadillac Purchased With Hail Damage originally appeared on Benzinga.com
© 2024 Benzinga.nl. Benzinga does not provide investment advice. All rights reserved.
