He may also own many houses elsewhere, different cars, real estate and such too elsewhere. In addition, he could also own a private jet, yacht and other things that only the rich can afford.
Thus, I strongly doubt a guy like Mr. Buffett only own that house and nothing else. I'm not suggesting he's hiding anything. Instead, I'm suggesting that just because a rich guy lives in the same house he purchased many decades ago doesn't imply he's not purchasing elsewhere.
My best friend bought a fixer upper about 20 years ago when she graduated from college...very middle class home. She still lives in it. Yet, she also owns a condo at Whistler and another condo at Vale...now considering buying another home down in Mexico (she likes to vacation down there with her kids). In addition, when she travels around the world...top luxury hotels where the rich go. Further, she goes to those political fund raisers where she donates 30 - 50k like it was pocket change.
Her car ? She bought it used and not worth more than 30k...an old Mercedes wagon from the 90s although she does get a different car every 5 years.
Yet, she's a jean type of a woman that lives in a middle class home.
It just seems like there are different types of rich people that spend their money in ways we can't see or notice unless we personally know them. Some put a lot of their income in those mansion like homes that most of us are use to seeing in some popular homestyle magazine and they do not own much of anything else.
Others may just live in some exclusive type of neighborhood in a house that doesn't represent their income level but they surely do own other assets spread across their country or the world.
All of them have some kind'uv maid, butler or kitchen help that are well paid.
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