He's $1 billion richer than Microsoft founder Bill Gates, and worth more than LVMH CEO Bernard Arnault and any of the three Walton heirs.

The famed investor, famous for his frugal ways, is now preparing for retirement after announcing he plans to step down as CEO at the end of 2025.

Still living in the house he bought in the 1950s and driving an equally modest car, the "Oracle of Omaha" prefers to keep and grow his money rather than take it out of the bank. Buffett often eats breakfast from McDonald's and famously borrowed furniture when his children were born.

Here's how he spends — or doesn't spend — his billions.