While the world goes crazy every time Apple launches its new phone, one of the richest people in the world remains least bothered. We are talking about Berkshire Hathaway’s chairman Warren Buffet.
Though he owns shares in Apple, he doesn’t use iPhone. He doesn’t use even a smartphone. He still sticks to his old flip phone.
“I don’t throw anything away until I’ve had it 20 or 25 years,” Buffett told CNN in an interview in 2013 after he proudly showing off his Nokia flip phone and saying, “This is the one Alexander Graham Bell gave me.”
His habit of sticking to things for long comes from his market wisdom — don’t buy a stock if you are not willing to keep it for 10 years.
Since he doesn’t even use email — he has sent only one email so far — many tend to think he is a Luddite, one having an irrational fear of new technology. No, Buffett is just a frugal and practical man who wants to live life on his own terms.
Though the world’s second richest man, Buffett still lives almost the same way he used to when he started out. He lives in the same small three-bedroom house in Omaha that he bought in 1958 for $31,500.
Till 2014, Buffett drove an eight-year-old Cadillac. “I only drive about 3,500 miles a year so I will buy a new car very infrequently,” he had said in an interview. CEO of General Motors had to convince him to upgrade to a new car. Buffett replaced his 2006 DTS with a brand new Cadillac XTS in 2014. Though he owns a private jet, he travels in it only for urgent business meetings.
Buffett’s credibility as an investor is so high that his listeners value each word he utters. He is known to have bucked the trend many times. That’s all because he lives an original life without getting influenced by trends. His life away from the fads of the day gives him the capability to see through the haze.