How Much Warren Buffett Would Have To Spend Per Day To Go Broke

Regardless of your opinion about billionaires in general, you could probably find plenty worse than business magnate and Berkshire Hathaway big dog Warren Buffett.

Sure, the so-called "Oracle of Omaha" is a huge deal in the investor circles and as one of the world's richest men, he has presumably stepped on some toes along the way. But he also comes across as a pretty down-to-earth dude: He's a self-made man who eats McDonald's, drinks way too much Coca-Cola, enjoys a game of bridge and lives frugally.

And he's committed to making the world a better place by actually giving away his money! He's a founding member of the Giving Pledge initiative, which, quote, "asks the world's wealthiest people to dedicate the majority of their wealth to philanthropy."

Never one to avoid practicing what he preaches, he gave somewhere around $28 billion to charity between the years 2006 and 2017 alone. He's given away so much money, in fact, that Biography even lists his profession as "philanthropist."

And there's more coming, as Buffett has promised to give away over 99% of his fortune!

But considering how super rich he still is, how much more money would he have to give away every day in order to give it all away?

Warren Buffett's net worth in late 2019 is $87.2 billion, and he's 89 years old. So let's assume that he wants to celebrate his 100th birthday by going broke, and that he starts his mission on his 90th birthday, which is on August 30, 2020. Let's also assume that this would give him a full decade to achieve his goal of extreme poverty, which allowing for leap years 2024 and 2028 would give him exactly 3652 days to get rid of his $87.2 billion. Good luck coming up with charitable causes, Mr. Buffett. You would have to give away a little under $23.88 million every single day to go broke in ten years.

While spending $23.88 million a day seems enough to make just about anyone go broke sooner or later, it's worth noting that Buffett might not even notice the dent in his bank account if he didn't magically stop earning more money. As Business Insider tells us, the man has had years when he has made a ridiculous $37 million per day, which means that even if he rigorously spends his $23.88 million, without stopping his incoming cash flow he might actually end up earning $13.12 million a day.

It's not entirely unreasonable to think that if Warren Buffett felt like giving away his possessions in daily chunks, he'd probably pick whatever foundation or charity he feels like supporting that particular day and throw a $23.88 million check at them. Maybe he'd even get creative every once in a while. We have ideas.

For instance, the United States Census Bureau reports that based on the year 2018, the average median household income in the U.S. is $61,937. Buffett could pay that to 385 random families every single day, and still have a five-figure sum left to buy Coca-Cola or whatever else he desires.

Hey, speaking of Coke: If the Oracle of Omaha decided to go all in with his favorite drink, like, maybe fill his swimming pool with it, his daily spending budget could buy him a very respectable amount of the stuff. Expatistan estimates the average price of a two-liter bottle of Coke in Omaha at $1.80, so Buffett's $23.88 million could buy him more than 13 million of them.

Of course, it's unlikely that we'll ever witness Warren Buffett walk home from the grocery store with a convoy of Coke trucks snaking behind him. For one of the richest people in the world, he leads a famously frugal existence, and apart from the billions of dollars he gives to charity, he doesn't really appear to spend much money at all or even value the concept of money, at least as a measuring stick of a person's success. Warren has stated:

"I measure success by how many people love me. And the best way to be loved is to be lovable." Watch the video to learn How Much Warren Buffett Would Have To Spend Per Day To Go Broke!

#WarrenBuffett #Billionaires

grunge,grunge channel,warren buffett,how much warren buffett,warren buffett would have to,warren buffett would,warren buffett would have,warren buffett spend per day,warren buffett to go broke,how much to go broke,how much spend per day,warren buffett would spend,warren buffett would spend per,warren buffett broke,how much to spend,how much to spend per,how to spend per day,how to spend,billionaires,warren buffett billionaires,billionaires to go broke,