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Homes of the Billionaires: Are They Scaling Back During the Recession?

From Forbes Magazine

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In today's tough economic climate, Warren Buffett is setting a good example. The world's second-richest man lives in the same five-bedroom gray stucco house he bought in 1958 for $31,500.

That's right. Legendary investor Buffett, 78, still calls his humble digs in Omaha, Nebraska’s Happy Hollow suburb home, despite a $37 billion fortune. That famous folksiness is, of course, in keeping with his investment philosophy. "If you don't feel comfortable owning something for 10 years," he once told a reporter, "then don't own it for 10 minutes."

Of course, few billionaires live as simply and frugally as Buffett, who also professes a love for pub fare like burgers and Cherry Coke. (Not coincidentally, Buffett is a longtime investor in the beverage giant.)

But low-key – even in these tough times – is a relative term among the super-rich. Computer mogul Michael Dell claims to live simply yet built a 33,000-square-foot manse in Austin, Texas, in 1997. Called "the castle" by locals for its high walls and tight security, the home sits on a 20-acre spread a mere stone's throw from Dell headquarters.

It's not so simple for other members of the billionaires club….

Editor's Note: Click Here to read the rest of this article and to see photos of the homes of the triple-very wealthy

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Print Date: 9/20/2020
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