I don't think he ever did it with the intention of being around to spend the money. He lives off his modest salary, drives an old vehicle, and still is in the same normal house as decades ago.
The money is more like points in a game to him I think, he just loves the game.
> In reality the man has multi million dollar vacation houses
Source?
He had a vacation home that he bought in 1971 for $150k, but sold it a few years ago. So far haven't seen anything that would suggest he's not as frugal as advertised.
Yeah, but if I had the kind of money he had, I would build a money bin on a hill and put 3 cubic acres of cash in it. Offshore accounts are just boring in comparison.
Some people suffer a purpose crisis when they retire. Some people just enjoy what they do. Some people enjoy being at the top of an organizational hierarchy. Whatever the reason is, it's legitimate for a person to not retire if they choose not to do so.
I am curious if he will really honor The Giving Pledge upon death.
I guess he's one of those people that have spent so much time working on their business that he won't really retire until he's passed away.
Also, I suppose he has a whole team of people helping him make those kind of decisions, so perhaps this just reflects the company's strategy instead of a personal one? (as much as they can be treated separately, which they may not)
Buffett likes to tell the story of Rose Blumkin, who founded Nebraska Furniture Mart, and worked until she was 103. Once she retired, she was dead within a year. This is meant to serve as a warning to other Berkshire managers thinking of retiring.
The money is more like points in a game to him I think, he just loves the game.