Berkshire Hathaway CEO Warren Buffet has put his six-bedroom house in Laguna Beach’s Emerald Bay on the market for $11 million.
“For the first time in nearly 50 years the legendary ‘Oracle of Omaha’s’ home (at) 27 Emerald Bay is now available!” says the listing by Bill Dolby of Villa Real Estate.
Buffett, 86, has owned the ocean-view home since 1971, when he paid $150,000 for it. He’s used the house for family vacations for the past 46 years, Dolby said.
Built in 1936, the 3,588 square foot home in the guard-gated community has been renovated over the years. Most rooms have views of the surf and rocks, and five bedrooms have en suite bathrooms.
Two bedrooms have private entrances, and a large family room with an expansive viewing deck is separated from the main home.
Buffett, who lives in Omaha, Neb., told The Wall Street Journal he bought the house because his first wife Susan liked it, not because he saw it as an investment. Susan Buffett died in 2004.
The house, a quick stroll to the beach, is “on the simpler side” for the area, Dolby told the Journal. “It has few of the pricey flourishes expected in the homes of billionaires. Much of the flooring is grey carpeting; the kitchen countertops are mostly white laminate,” the story said.
At Christmas family gatherings, Buffett said in the Journal, he often would hunker down in the master bedroom to write Berkshire Hathaway’s annual report. He also made trips to Disneyland with his family and friends.
Susie Buffett, Warren’s daughter, told Dolby that three generations of the family have gathered at the home over the years. He said she called Emerald Bay one of the most beautiful beaches on the West Coast.
Buffett is known for a relatively modest lifestyle.
In 2005, he sold a house adjacent to the Emerald Bay home now on the market. That home was resold in April 2012 for $4.3 million.
“While pricey, it’s still quite modestly sized for a billionaire’s getaway,” a reporter for CNBC later wrote.
Buffett is the third richest man in the world, according to Forbes, with a net worth of $60.8 billion.