Warren Buffett says ‘accumulating great amounts of money’ doesn’t achieve greatness

“Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government,” Buffett wrote in his finish Berkshire Hathaway shareholder letter final November.

The 95-year-old “Oracle of Ohama,” often called one of probably the most profitable traders of all time, is the thirteenth richest individual on the planet, boasting a fortune of $143 billion. But that doesn’t imply he is splurging on mansions and driving luxurious vehicles off the lot. He’s been thrifty all through his seven-decade skilled profession, regardless of including billions to his title.

Known for consuming at McDonald’s, driving a beat-up previous automotive, and dwelling in his modest Nebraska residence, it is clear his checking account hasn’t modified his methods. Instead of feeling highly effective by lavishing within the spoils of his riches, Buffett finds true worth and greatness in non-material pursuits.

“When you help someone in any of thousands of ways, you help the world,” Buffett continued. “Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior…Keep in mind that the cleaning lady is as much a human being as the Chairman.”

Buffett’s thrifty life-style: clipping McDonald’s coupons and dwelling in a $31,500 home

Buffett’s golden rule is that everybody ought to be handled with kindness and respect, regardless of in the event that they’ve constructed a unicorn firm, or are a junior-level employee. And he has handled the world’s strongest enterprise leaders the identical approach, unwilling to shell out on fancy meals to impress them.

The Berkshire Hathaway icon is thought for stopping by McDonald’s for an inexpensive eat, selecting to order two sausage patties, an egg and cheese, or a bacon egg and cheese—all lower than $4. He loves the fast-food chain a lot he even took Bill Gates there for lunch years in the past, as an alternative of wining and eating him at a swanky restaurant. One time, the entrepreneurial pair have been at a McDonald’s in Hong Kong, and Gates recalled laughing when Buffett provided to foot the invoice, pulling coupons out of his pocket. But for the hedge-fund mogul, each penny counts.

The identical cash philosophy applies to Buffett’s main life purchases. The long-time CEO nonetheless lives in the identical 5 bed room, two-and-a-half rest room Omaha residence he purchased for $31,500 again in 1958. The home can be worth around $1.4 million today—way more inexpensive than the luxurious pads Buffett can afford—yet i have mentioned he “wouldn’t trade it for anything.” Buffett’s true fondness for the house lies within the recollections of elevating his three kids on the property, not its market worth.

Uber-rich individuals boasting web worths like Buffett might also be tempted to ball out on indulgences like costly vehicles. But the investing magnate is not excited by getting behind the wheel of a Lamborghini or Aston Martin; he as soon as drove a 20-year-old automotive as a result of he felt it was safer than driving a speedy luxurious different. And at one level, his license plate even reads as “THRIFTY.”

Whether it’s mansions or sports activities vehicles, Buffett steers clear of making main purchases that mirror his checking account. In truth, he feels giving in might be counterproductive to his happiness.

“I do not think that standard of living equates with cost of living beyond a certain point,” Buffett said at a Berkshire Hathaway shareholders assembly in 2014. “My life would not be happier…it’d be worse if I had six or eight houses or a whole bunch of different things I could have. It just doesn’t correlate.”

A model of this story was revealed on Fortune.com on November 12, 2025.