Warren Buffett is considered the most successful investor in the world and has topped global individual wealth lists several times as a result. However, people have found that this “Oracle of Omaha” is very low-key and seemingly “unpretentious” in relation to his wealth. This may be one of the reasons he has amassed such immense riches.
Buffett’s investment philosophy and keen market sense have always captivated followers. Earlier this month, at the Berkshire Hathaway shareholders’ meeting he helmed, approximately 40,000 investors from around the world gathered in Omaha, Nebraska, just to listen to Buffett’s investment insights, including CNBC reporter Ryan Ermey.
Aside from listening to Buffett’s investment wisdom, Ermey also sought to further understand this billionaire’s upbringing and lifestyle during this opportunity.
He contacted David Clark, the author of “Buffettology” and many other books related to Berkshire, who is a native Nebraskan. Clark asked him to call when he arrived in Omaha, promising him a “five-cent tour of Warren.”
The simple conversation between the two highlighted that the 93-year-old Buffett is not only an “idol” in Omaha but has also brought an irresistible allure to his hometown.
Ermey arrived in Omaha on May 2nd (Thursday), checked into a hotel, and headed to the Happy Hollow Country Club, about a 20-minute drive from downtown Omaha.
He met with Clark for lunch at the club, of which both Buffett and Clark are members. Seated on a chair once used by Buffett, Ermey asked the bartender, “What does he drink?”
“Cherry Coke.”
“No alcohol?”
“Absolutely not. Not even vegetables.”
During lunch, Clark told Ermey that followers come to Omaha not only to be seen but also to catch a glimpse of Buffett’s world. During the meeting weekend, it is nearly impossible to book a seat at Gorat’s, Buffett’s favorite steakhouse. A fund manager later revealed that one year, he and a friend got their hair cut at the barbershop Buffett frequents.
Clark proved to be a worthy guide on Ermey’s “Warren tour.” Growing up in Omaha and being a friend of the Buffett family, Clark is the perfect companion. Buffett’s youngest son, Peter, is a friend and classmate of Clark.
Clark’s early memories of Buffett were not of an industry titan but “someone else’s dad,” who enjoyed playing with model trains. Despite ascending to the top of global individual wealth and becoming an “idol-level” investor, Buffett’s three children each pursued their own paths, with none following in their father’s footsteps: Peter is a musician, older brother Howard is a farming photographer, and their sister is a homemaker.
In Peter’s perspective, having a safe, loving, and open family is life’s greatest wealth. He believes that his father’s wealth should be given back to the world.
Riding in Clark’s Subaru, Ermey visited Buffett’s former elementary school, which had been renovated. Rumors say that nearly every school in Omaha has received generous funding for renovations from the renowned investor.
Despite Buffett’s immense wealth and exceptional qualities, Clark describes him as a typical son of Omaha: growing up locally, doing business, achieving wealth, and yet remaining modest.
“You see at the country club, there are no Audis or any other luxury cars in the parking lot,” Clark pointed out. “Everything is very low-key, and everyone likes it that way.”
Clark drove Ermey around the community where Buffett grew up. This neighborhood is where many prominent Omaha families reside, whether doctors, insurance brokers, or restaurant owners, all living in single-story ranch houses, making Ermey feel like he’s back in the suburbs where he grew up.
“They were early investors in Berkshire,” Clark said. “They are now millionaires.”
Clark mentioned that many of them, no matter how much wealth they have, remain in the area. “People’s friends around here are still the same old high school classmates from 50 years ago.”
Despite this, Ermey felt that this place was unique. Passing by the Nebraska Furniture Mart, Ermey learned that Buffett had acquired this enterprise through a “handshake” agreement from Rose Blumkin, known as Mrs. B.
Clark himself is a loyal customer of this store, with almost every room in his house furnished from there.
They also drove past one of Berkshire Hathaway’s flagship insurance companies, National Indemnity, where Ermey learned that this company has maintained the same appearance for decades.
“Same building, same sign,” Clark said.