The world's fifth wealthiest individual continues to reside in the home he purchased in 1958 for $31,500.

As of last year, there were 136 billionaires residing in New York City, but Warren Buffett isn't among them.

Buffett currently holds the title of the world's fifth richest individual with a net worth of $113 billion, surpassing Microsoft founder Bill Gates, who trails closely with $109.7 billion.

Many individuals on Forbes' rich list choose to live in cities like New York City or San Francisco, even though the latter has been ranked as one of the worst places to reside due to its high living costs. To afford a home in these cities, an annual income of at least $404,332 is necessary.

However, breaking the trend is 93-year-old Buffett, who has called Omaha, Nebraska his home for most of his life. His residence is conveniently located near the headquarters of his company, Berkshire Hathaway, where he has stayed for nearly 70 years.

Berkshire Hathaway owns numerous companies, including Geico, Duracell, and Dairy Queen, contributing significantly to Buffett's wealth. Additionally, Buffett is an experienced investor in stocks and shares, a skill he developed since the age of 11. Despite his financial success, it surprises many that he never relocated to New York, the stock market capital of America.

What astounds people more than the location of Buffett's home is the price he paid for it. The now-multibillionaire purchased his home in 1958 for just $31,500, making it the only real estate he owns. Buffett regards his home as one of his best investments, ranking third behind his and his wife's wedding rings.

Buffett, who was married to Susan Thompson Buffett until her passing in 2004, remarried two years later and is currently married to his wife of 17 years, Astrid Henks. According to Realtor.com’s estimate, his home is currently valued at approximately $1,439,000, a staggering 44.44 times more than what he paid for it.

Despite considering his home a great investment, Buffett believes he could have made more money if he had rented instead. In a 2010 letter to his Berkshire Hathaway shareholders, he stated, "Home ownership makes sense for most Americans... All things considered, the third best investment I ever made was the purchase of my home, though I would have made far more money had I instead rented and used the purchase money to buy stocks."

One can only wonder what "far more money" means for the fifth richest man in the world.

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