For many entrepreneurs, adding “millionaire” or even “billionaire” to a list of accomplishments signals that they have finally made it in business. Billionaire investing mogul Warren Buffett, however, has pushed back against the notion that eye-watering net worths equate to excellence.

“Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government,” Buffett wrote in his final Berkshire Hathaway shareholder letter, released last November.

Buffett, the 96-year-old “Oracle of Omaha” widely regarded as one of the most successful investors of all time, ranks as the 10th richest person in the world, with a fortune of $163 billion. Yet his bank balance has not changed his ways across a professional career spanning seven decades. He is known for eating at McDonald’s, driving a beat-up old car, and living in his modest Nebraska home. Rather than deriving status from the spoils of his riches, Buffett finds true value and greatness in non-material pursuits.

His parting words carry weight given the record behind them: Buffett took control of Berkshire Hathaway in 1965, when it was a struggling Massachusetts textile maker, and built it into a conglomerate spanning insurance, railroads and energy, with his yearly letters to shareholders becoming closely studied texts across the investing world. The final installment lands just before Buffett hands the conglomerate’s chief executive role to successor Greg Abel at the start of 2026.

“When you help someone in any of thousands of ways, you help the world,” he continued in the letter. “Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior… Keep in mind that the cleaning lady is as much a human being as the Chairman.”

Buffett’s thrifty lifestyle: clipping McDonald’s coupons and living in a $31,500 house

Buffett’s golden rule is that everyone deserves kindness and respect, whether they have built a unicorn company or work at the junior level. He has extended the same treatment to the world’s most powerful business leaders, showing no willingness to spend heavily on fancy meals to impress them.

The Berkshire Hathaway icon is known for stopping by McDonald’s for a cheap meal, typically ordering two sausage patties, an egg and cheese, or a bacon, egg and cheese—all for less than $4. His enthusiasm for the fast-food chain runs deep: years ago, he took Bill Gates there for lunch instead of wining and dining him at a swanky restaurant. On one occasion, the pair visited a McDonald’s in Hong Kong, and Gates recalled laughing when Buffett offered to foot the measly bill, pulling coupons out of his pocket. For Buffett, every penny counts.

The same money philosophy applies to his major life purchases. Buffett, Berkshire Hathaway’s former CEO, still lives in the same five-bedroom, two-and-a-half-bathroom Omaha home he bought for $31,500 back in 1958. The property would be worth around $1.4 million today—far more affordable than the luxurious residences he could easily afford—yet he has said he “wouldn’t trade it for anything.” His fondness for the house stems from the memories of raising his three children there, not from its market value.

People with net worths like Buffett’s might also be tempted to indulge in expensive cars. But the investing magnate has no interest in getting behind the wheel of a Lamborghini or an Aston Martin; he once drove a 20-year-old car because he felt it was safer than a speedy luxury alternative. At one point, his license plate even read “THRIFTY.”

Whether mansions or sports cars, Buffett steers clear of major purchases that reflect the size of his bank account. In fact, he believes giving in to such spending could be counterproductive to his happiness. Any fortune he does not spend is already spoken for, too: Buffett has pledged to give away more than 99% of his Berkshire stock and has directed tens of billions of dollars to philanthropy.

“I do not think that standard of living equates with cost of living beyond a certain point,” Buffett said at a Berkshire Hathaway shareholders meeting in 2014. “My life would not be happier…it’d be worse if I had six or eight houses or a whole bunch of different things I could have. It just doesn’t correlate.”

A version of this story was published on Fortune.com on November 12, 2025. This story was originally featured on Fortune.com.