Berkshire Hathaway chairman Warren Buffet has put his six-bedroom house in Laguna Beach’s Emerald Bay on the market for $11 million.
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, according to Bill Dolby of Villa Real Estate, the listing agent.
Built in 1936, the 3,588 square foot home in the guard-gated community has been renovated over the years.
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 told the journal, he often would spend time in the master bedroom to write Berkshire Hathaway’s annual report. He also made trips to Disneyland with his family and friends.
“We have many cherished family memories of summer vacations and holiday weekends spent at our Emerald Bay home,” Susie Buffett, Warren Buffett’s daughter, said in a statement. “Three generations of our family have enjoyed beach days and vacations in Emerald Bay. It is a one of the most beautiful beaches on the west coast, and a very special community.”
Buffett sold an adjacent house in 2005.
He is the third richest man in the world, according to Forbes, with a net worth of $60.8 billion.
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