LAGUNA BEACH – (INT) - Worth $78.8 billion and only taking a base salary of $100,000 a year, Warren Buffett’s frugality is legend. But few probably knew that in 1971 he purchased a house in Laguna Beach for $150,000 - before the area was so highly developed and expensive.

Today, his beach house is in an exclusive gated community that sports multiple tennis courts, swimming pool and beach volleyball courts among other amenities. He and his wife, Susan, enjoyed entertaining their friends at the house but found that there were so many visiting that he also bought a house next door and built a stairway to connect the two. After his wife died in 2004, Warren rarely used the home and sold the connecting property in 2005.

Now after updating the beach house, Buffett has put it on the market.

It’s very contemporary with six bedrooms and seven baths, big windows, sculptured ceilings and recessed lighting to spotlight the home’s modern art, a long fireplace and multiple built-ins. Two of the bedrooms have private entrances so guests can come and go without disturbing others.

All rooms, including the large family room and decks, have ocean and beach views and the rock cliffs spilling onto the beach of Emerald Bay. The house is listed by Villa Real Estate at $11 million.

Story Date: March 20, 2017