Warren Buffett is the world’s third-richest man — see how the notoriously frugal billionaire spends his fortune

Warren Buffett may have inadvertently helped fund the lavish lifestyle of a couple as part of what the FBI calls an $800 million "Ponzi-type" scheme

Billionaire Warren Buffett – Paul Morigi/Getty Images for Fortune/Time Inc

 

Warren Buffett, America’s third-richest man, has increased his net worth by around $10 billion in the past year, according to the Forbes 400, which was released on Wednesday. But what else would you expect from the “Oracle of Omaha,” who began building his wealth at age 11?

Now 88, Buffett‘s estimated net worth stands at $88.3 billion — but you wouldn’t know it by Buffett‘s frugal ways.

Still living in the house he bought in the 1950s and driving an equally modest car, Buffett prefers to keep and grow his money rather than take it out of the bank. Not one for lavish purchases, he spends relatively little of his billions — except when it comes to philanthropy.

Buffett is regarded as one of the most generous philanthropists in the world, having donated more than $46 billion since 2000.
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Warren Buffett is the world’s third-richest man — see how the notoriously frugal billionaire spends his fortune

 

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