By Jeannine Mancini
Among the world’s billionaires, opulence knows no bounds. From sprawling mansions to fleets of luxury cars, the wealthiest people on the planet often indulge in extravagant lifestyles that capture the imagination. Yet, there’s one billionaire whose extravagance takes the cake, and he’s nowhere near as rich as an American counterpart known for his frugality.
Meet the Sultan of Brunei, Hassanal Bolkiah, a figure whose wealth is legendary, and whose lavish living quarters and car collection put him in a league of his own. But when it comes to comparing fortunes, even his billions pale in comparison to the likes of Warren Buffett, the Oracle of Omaha and CEO of Berkshire Hathaway Inc.
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The Sultan’s Extravagance: A $2.55 Billion Palace And $3 Billion Car Collection
At the heart of the sultan’s grandeur lies the Istana Nurul Iman Palace, a colossal residence spanning 2 million square feet. Valued at $2.55 billion, the world’s largest palace includes five swimming pools, 257 baths, more than 1,700 rooms, 200 air-conditioned horse barns and 110 garages. The dome of this architectural marvel is adorned with 22-carat gold.
But it’s not just his palace that captures attention. The sultan boasts a car collection that surpasses the dreams of most automobile enthusiasts. With over 7,000 vehicles, the collection has an estimated worth of $3 billion and includes 300 Ferraris and 500 Rolls Royces, among others. Luxury and speed are clearly his passions.
The Frugal American Billionaire: Warren Buffett
In contrast to the sultan’s lavish lifestyle, Berkshire Hathaway Inc. CEO Warren Buffett, one of the most successful investors of all time, is renowned for his down-to-earth approach to wealth. The billionaire investor, whose net worth is $118.9 billion, has long championed a modest lifestyle.
Buffett purchased his house in Omaha, Nebraska, for $31,500 in 1958 and still lives there today. While other billionaires acquire opulent estates around the world, Buffett remains rooted in his unassuming home.
As for his choice of wheels, Buffett is often seen driving a 2014 Cadillac XTS, which reportedly suffered hail damage. While luxury car aficionados may scoff at this choice, Buffett’s preference for practicality and value over extravagance is a testament to his disciplined approach to life.
The Sultan’s Investment Ventures
The Sultan of Brunei, on the other hand, amassed his wealth primarily through the nation’s abundant crude oil and natural gas reserves. While his extravagant lifestyle is legendary, he has also delved into various investments, including real estate and other business ventures.
The sultan’s family, including Prince Abdul Qawi, has shown an interest in startup financing to diversify their investment portfolio. Qawi, a nephew of Bolkiah, ventured into the startup space by participating in a seed funding round for the Malaysian healthcare startup BookDoc. This marked a significant departure from his traditional brick-and-mortar investments, including real estate and partnerships with companies like Starbucks Corp.
A Tale Of Contrasting Fortunes
While both the sultan and Buffett have amassed fortunes that most can only dream of, their approaches to wealth couldn’t be more different. The sultan lives in a palace worth billions and is surrounded by thousands of luxury vehicles. Buffett, despite his wealth, leads a frugal life in the same house he bought over six decades ago and drives a 9-year old car.
Though their lifestyles and investment choices may seem worlds apart, there is a common thread that ties these billionaires together — their ability to diversify their wealth. Buffett’s investments span a wide range of industries, from insurance to consumer goods, while the sultan and his family have demonstrated their interest in both traditional and emerging markets.
NB: Culled From Yahoo news
