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Most of the billionaires often flaunt their luxury manner by showing disconnected their costly cars arsenic a presumption symbol, however, Warren Buffett does not judge successful this amusement off. The billionaire loves his 11-year aged car and treats it similar a room appliance.
At 94, the legendary capitalist drives a 2014 Cadillac XTS—complete with hail damage—because, successful his words, “a fractional a time I don’t privation to springiness up” is excessively steep a terms for car shopping. Buffett’s attack towards not buying a car is not new. At the Berkshire Hathaway shareholders gathering successful 2001, Buffett explained that simplicity and information matters the astir to him and not style. His contiguous Cadillac, which was purchased by his girl Susie Buffett, reflects that ethos.
Susie purchased the car from Huber Cadillac successful Omaha, posing arsenic a regular customer. Later Buffett praised the dealership successful a missive to GM CEO Mary Barra for treating her fairly—without knowing she was buying for 1 of the world’s richest men.
Time implicit money
Buffett views of inactive utilizing the 11-year aged car is rooted successful his doctrine that clip is the astir invaluable asset. “If I could constitute a cheque successful 30 seconds and beryllium successful the aforesaid presumption I’m successful present with a newer car, I’d beryllium gladsome to bash it this afternoon,” helium erstwhile said.
“But I don’t similar to commercialized distant erstwhile there’s truly nary payment to maine astatine all.”Every twelvemonth helium drives astir 3,500 miles a twelvemonth and contempt immoderate occasional nudges from his girl to upgrade, helium remains content. To Buffett, cars are astir utility, safety, and efficiency—not prestige.
A acquisition successful simplicity
As reported by Cox Automotive’s 2023 Car Buyer Journey Study, astir of the Americans walk astir 12 to 14 hours successful buying a car. Buffett’s determination of delegating the task to her girl underscores the content that those hours tin beryllium spent successful reading, investing and thinking.His investing doctrine mirrors his driving habits: bargain quality, clasp long, and debar unnecessary churn. “I’m wholly blessed with the car,” helium said successful 2001—and he’s inactive proving it today, down the instrumentality of a Cadillac that’s weathered much than conscionable Nebraska hailstorms.
