Warren Buffett is a billionaire – sometimes ranked as the world's second-richest man, in fact – but he's cultivated a reputation for modest living. He doesn't live in some metropolitan castle, but instead in a relatively simple home in Nebraska, and now his residential situation is getting pared down even further with the listing of his summer home in Laguna Beach, California.
According to The Wall Street Journal, Buffett has listed his vacation home for $11 million. Much like his primary residence, his home-away-from-home isn't what most people would expect when they visualize a billionaire's beach house: It's a six-bedroom, seven-bathroom corner block house covering a little under 3,600 square feet and with "sand, surf and the rocks" views from almost every part of the house.
One thing that's not surprising about the house is that Buffett, the richest investor in the world, is aiming for a tidy profit on it. He paid just $150,000 for it back in 1971, but it's been renovated multiple times since then. Buffett reportedly didn't purchase the home as an investment, instead buying it to please his late wife Susan, who liked the property. When Susan passed away in 2004, Buffett sold another property he held near this one, a $5.45 million 'spillover' guest home connected via a stairway, the following year.
Unfortunately for Buffett's prospects at finding a buyer, that home ended up being sold by its owners at a loss in 2012. But on the bright side, he wants to give all his money away anyway, so taking a bath on a beach home probably wouldn't cause him to lose any sleep.