Warren Buffett's salary was $100,000 last year, while his deputy made $20 million. Buffett wants it that way to signal his prudence, frugality, and devotion to Berkshire shareholders. The investor pays back $50,000 annually, and Berkshire spends triple his salary on keeping him safe.
His conglomerate, Berkshire Hathaway, currently holds $325 billion in cash and equivalents, according to the firm's quarterly financial statements. Over $288 billion of that pile is in U.S. Treasury Bills, the textbook example of investing at the so-called “risk-free” rate.
Despite his immense wealth of $145 billion, Buffett's children will not inherit a significant portion for personal use. Instead, they will play a critical role in managing the distribution of his wealth to various charitable causes after his passing.
Buffett has said previously that his three kids will distribute his remaining $147.4 billion fortune in the 10 years after his death, but now he has also designated successors for them because it's possible that Buffett's children could die before giving it all away.
The billionaire investor and Berkshire Hathaway CEO initially balked at the idea of owning a private jet, but ultimately embraced the luxury and convenience. Warren Buffett nicknamed his private jet 'The Indefensible' – then renamed it 'The Indispensable' after realizing its value.
2. Steer Clear of Consumer Debt. In a world where a single swipe of a card can get you seemingly anything you want, Buffett still prefers to use cash instead of a credit card as much as he can. Though he is the owner of an American Express card, obtained all the way back in 1964, Buffett makes a point of avoiding it.
Berkshire's Cash Reaches Record Levels
2 Berkshire has accumulated cash in each of the past nine quarters. Investors watch Berkshire's cash hoard closely for its potential as "dry powder." One potential reason Buffett's keeping that powder dry: The "Oracle of Omaha" may not see much room for growth in the market.
Final Takeaway. Buffett's choice to leave his fortune to his children, while staying true to his philanthropic values, reflects his approach to life, family, and legacy. For his kids, this isn't just about money—it's about carrying forward the values he's lived by: hard work, responsibility, and giving back.
Bezos also owns a car collection reportedly worth around $20 million. His collection includes several high-end vehicles such as a Cadillac Escalade, Land Rover Range Rover, Mercedes-Benz S450, Ferrari Pininfarina Sergio, W Motors' Lykan HyperSport, Bugatti Veyron Mansory and Koenigsegg CCXR Trevita.
Billionaire investor Warren Buffett has sung the praises of Apple, but he's never been a fan of smartphones, preferring instead to use a $320 Samsung SCH-U20 that was given to him as a joke by Alexander Graham-Bell. Now, however, it has finally been upgraded to an iPhone 11.
Warren Buffett wears Rolex and not other luxury watches because of his pragmatic approach to choice. Rolex is a sign of timelessness, simplicity, precision, and durability.
His measures include advanced security systems for his homes, personal security guards, a car with a defensive driver and cybersecurity measures.
Base salary:
Tesla's CEO, Elon Musk, has entirely resigned from fixed base pay since May 2019. His compensation for 2018 amounted to $56 380, close to the minimum wage in California.
According to Warren Buffett, selling Apple stocks made sense as Buffett believes stocks are trading above their intrinsic value and capital gains taxes are also likely to rise. This makes it advantageous to realize gains at the current lower tax rate as Buffett is trying to lock in profits before potential tax hikes.
The world's most famous value investor is sitting on an enormous cash pile. Warren Buffett's conglomerate Berkshire Hathaway currently holds more than $325 billion in cash and equivalents, according to the firm's quarterly financial statements, most of it in U.S. Treasury bills. Everyone wants to know why.
Through the first nine months of 2024, Warren Buffett's Berkshire Hathaway unloaded $133 billion worth of stocks. Buffett reduced Berkshire's massive stake in Apple and sold nearly a quarter of its Bank of America holding.
Bank of America stands out in Buffett's portfolio. It's one of the few banks he continues to trust. His investment in BOFA began in 2011 with a favorable deal, and he values the leadership of CEO Brian Moynihan.
Warren Buffett typically does not give money to individuals, although he frequently donates to charities. However, he has in the past forwarded individual requests for money to his sister, Ms. Doris Buffett, who operates an organization called the Sunshine Lady Foundation.
Highlighting Buffett's Frugal Lifestyle
Yes, ladies and gentlemen, Warren Buffett, a man who could easily buy a private island or an NBA team just for fun, prefers a more humble existence. This is a man who lives in a house he bought in the 1950s for $31,500 and whose daily McDonald's breakfast never exceeds $3.17.
Among the many symbols of her immense wealth is her private jet, the Gulfstream G650. Oprah's Gulfstream G650 is a testament to her success and penchant for luxurious travel and privacy.
Tom Cruise owns a Gulfstream IV, a luxury business jet renowned for its performance, comfort and range.