Billionaire Warren Buffett Still Drives a 2014 Cadillac But Joked Charlie Munger's Idea Of 'Traveling In Style' Was an Air-Conditioned Bus

Warren Buffett is worth an estimated $160 billion, yet he still drives a 2014 Cadillac XTS—one he didn't even pick out himself. His daughter, Susie Buffett, handled the purchase, upgrading his 2006 Cadillac DTS, which had a mere 19,000 miles on it, according to Forbes. 

Buffett has always sent Susie to handle buying his cars. And his reasoning for that….time. "If I could write a check in 30 seconds and be in the same position I'm in now with a newer car, I'd be glad to do it this afternoon," he said at the 2001 Berkshire Hathaway annual meeting. "But I don't like to trade away time when there's really no benefit to me at all."

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Buffett's car-buying philosophy isn't just about efficiency—it's about value. He's been known to buy vehicles with hail damage, knowing they function just as well but cost less. His frugality extends far beyond his garage. He still lives in the same Omaha home he bought in 1958 for $31,500, and his idea of a lavish breakfast is whatever McDonald's combo matches the market that morning.

Munger's Luxury: A Bargain-Fare Bus Ticket

If Buffett is frugal, Charlie Munger was downright spartan. The Berkshire Hathaway vice chair, worth an estimated $2.2 billion at the time of his passing in 2023, was never one for extravagance. Buffett joked in a 1989 annual shareholder letter, "His idea of traveling in style is an air-conditioned bus, a luxury he steps up to only when bargain fares are in effect."

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Munger's aversion to unnecessary spending even extended to Berkshire's corporate jet. When Buffett decided to upgrade their company plane in the 1980s, Munger was unimpressed. Buffett poked fun at him writing: 

"Naming the plane has not been easy. I initially suggested ‘The Charles T. Munger.' Charlie countered with ‘The Aberration.' We finally settled on ‘The Indefensible.'"

Despite his budget-friendly bus habits, Munger wasn't completely opposed to flying. Berkshire Hathaway's holdings included NetJets, a private-jet company, showing that even he saw the value in air travel—just maybe not at Berkshire's expense.

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A Lifetime of Value Over Vanity

Buffett and Munger weren't just business partners; they were two of the most frugal billionaires the world has ever seen. Whether it was Buffett buying a hail-damaged Cadillac or Munger rolling his eyes at a $6.7 million corporate jet, they built their empire on smart spending, not flashy purchases.

At a time when billionaires collect luxury cars like trading cards, Buffett's one-Cadillac-at-a-time approach is almost as rare as his investing track record. And as for Munger? Let's just say, if there was a deal on first-class bus tickets, he'd have been first in line.

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