Warren Buffet is selling his Laguna Beach Emerald Bay vacation home and has listed it at $11 million.
The 86-year-old Berkshire Hathaway CEO has owned the six-bedroom ocean-view home since 1971, when he paid $150,000 for it, according to the OC Register.
Buffet’s permanent residence is in his native Omaha, Neb.
Built in 1936, the 3,588-square-foot home in the guard-gated Emerald Bay community has been renovated over the years, with two of the bedrooms having private entrances. A large family room with an expansive viewing deck is separated from the main home.
Bill Dolby of Villa Real Estate has the listing on the property.
Buffett told The Wall Street Journal he bought the house because his first wife Susan liked it, not because he saw it as an investment. Susan Buffett died in 2004.
According to the WSJ report, the Buffet family would sometimes gather at the Laguna Beach residence for Christmas and three generation of the family have enjoyed the home over the years.
In 2005, Buffet sold a house adjacent to the Emerald Bay home that is now up for sale, the OC Register reported.
According to Forbes, Buffett is the third richest man in the United States with a net worth of $65.5 billion.
–Toni McAllister