Dollar Dollar Bill Y'all

It definitely takes all kinds. I am not passing judgment on the fifth richest man in the world, Mukesh Ambani, for building a billion dollar house, but I think that it is important to note that the current richest man in the world, Warren Buffet, pays himself $100,000 per year and lives in the same house that he bought back in the fifties. Regardless of your position on fiscal policy, you have to check this house out.

Check the specs:

173.12 meters with 27 stories but equivalent to a regular 60-story building.
Six floors for parking
One entire floor for car maintenance
Entertainment floor containing a 50 seat mini theatre
Four different floors (or balconies) of gardens
2 refuge floors meant to be used for rescue in emergencies
Two floors consisting of space for athletics, a health club, and a swimming pool
A two floor apartment for guests
Four floors at the top will be that actual living quarters for the family
The two floors above the family’s quarters will be for maintenance, and a control room for the helipad above
A full time staff of 600 people

Now, let’s change pace. Warren Buffet currently drives a Cadillac DTS. These cars start out at $43,000. I guess when you are only making $100,000 per year, that is a tall order. Ok, we will be honest. Though Buffet was only salaried $100,000 in 2006, his total income was $46 million, and his total net worth grew more than $10 billion. That year his tax rate was 17.7%, while his secretary's was 30%. The richest man in the world has a lower tax rate than his secretary. In fact, he uses this fact as a criticism of the current tax structure in the United States.

I just found it interesting the amount of variation there is in the world. Thought I think that a billion dollar house is over the edge, I also feel that Buffet is going a little too far by not upgrading his house or car. Buffet could take 1/23rd of his 2006 income and and purchase a $2 million dollar house. I couldn't even buy a used car from the 90's with 1/23rd of my annual income.

Jeff

Comments

Baumeisters said…
This is a very interesting observation, Jeff. I think Warren Buffet probably realizes that the amount he's living off of is just enough for him. I applaud him for living frugally, although I think that maybe $250,000/year would be where I would draw my line. But, I guess that remains to be seen. At any rate, money does change people...and maybe Mr. Buffet feels that living on more than that would make him something he doesn't like about people like that first guy you blogged about.

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