Buffett also
clips coupons to go to McDonalds, so I'm not entirely sure he represents the "typical" billionare. That said, it entirely depends upon what value he places on such things. In general, he seems to value building more wealth and passing it on over spending money on cars, houses, and good food. It's his choice to make, but not how I'd live if I hit the Powerball.
I get a kick out of Warren Buffett discussions. Warren Buffett buys breakfast at McDonalds because he likes their food. He's lived in the same house in Omaha for, what, 50 years? Of course, he also owns other properties. He drives Cadillacs because he like Cadillacs. On the other hand, he flies everywhere he goes on NetJets, which probably runs well into seven figures per year. He has at least one full-time body guard, probably more. Multiple full-time assistants organizing everything. I'm thinking WB lives mostly like one would expect for a billionaire, and better than all but the biggest Powerball winners could support. I think he puts on a nice show with the house in Omaha (which is not small) and the McDonalds breakfasts.
WB is as cheap as it gets about paying taxes, and uses every work-around possible to avoid them. Like paying himself $1 per year to run Berkshire Hathway. That's a cute little trick. Income taxes on wages are the highest of all, and he doesn't even have to pay Social Security and Medicare taxes. Lots of CEOs do this, and IMO it should be illegal, since it's a tax dodge not available to us "little people". I know he's seen as some sort of folk hero, but Buffett strikes me as just as ruthless as any hedge fund manager on Wall Street, but a lot richer.
