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

Buffett has ever sent Susie to grip buying his cars. And his reasoning for that....time. "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 said astatine the 2001 Berkshire Hathaway yearly meeting. "But I don't similar to commercialized distant clip erstwhile there's truly nary payment to maine astatine all."

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Buffett's car-buying doctrine isn't conscionable astir efficiency—it's astir value. He's been known to bargain vehicles with hail damage, knowing they relation conscionable arsenic good but outgo less. His frugality extends acold beyond his garage. He inactive lives successful the aforesaid Omaha location helium bought successful 1958 for $31,500, and his thought of a lavish meal is immoderate McDonald's combo matches the marketplace that morning.

If Buffett is frugal, Charlie Munger was downright spartan. The Berkshire Hathaway vice chair, worthy an estimated $2.2 cardinal astatine the clip of his passing successful 2023, was ne'er 1 for extravagance. Buffett joked successful a 1989 yearly shareholder letter, "His thought of traveling successful benignant is an air-conditioned bus, a luxury helium steps up to lone erstwhile bargain fares are successful effect."

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Munger's aversion to unnecessary spending adjacent extended to Berkshire's firm jet. When Buffett decided to upgrade their institution level successful the 1980s, Munger was unimpressed. Buffett poked amusive astatine him writing:

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

Despite his budget-friendly autobus habits, Munger wasn't wholly opposed to flying. Berkshire Hathaway's holdings included NetJets, a private-jet company, showing that adjacent helium saw the worth successful aerial travel—just possibly not astatine Berkshire's expense.