Billionaire and philanthropist Warren Buffett has listed a residence in a gated community in Laguna Beach. Buffett is asking $11 million for the property, which he purchased in the early ‘seventies for $150K, a substantial sum at the time.

The home is situated in Emerald Bay, and is just inland from the beach. Views of the cliffs and the surrounding community are visible from the second-floor master balcony. It measures 3,600 square feet, and contains five en-suite bedrooms, including a master.

Constructed in 1936, the house is modern in design, and has seen numerous renovations under Buffett’s ownership. The interior is entirely whitewashed—blazing, but austere. Floors are generally carpeted. Lighting is recessed or track. The kitchen counters are white Formica, and the cabinets a simple, functional design, also in white. Vaulted ceilings relieve the intensity somewhat, and the shiplap used for the kitchen ceiling adds a bit of texture.

The master suite is located in its own wing of the home, and contains a private sitting area, as well as a fireplace. There is a second fireplace, in the family room. The property exterior features a slate patio, which is accessible through sliding glass doors from a guest bedroom.

For his leading role as a venture philanthropist, Warren Buffett was awarded the Presidential Medal of Freedom in 2011. His net worth is reportedly nearly $75 billion; he has declared that he will leave 83% of his fortune to charitable organization The Bill & Melinda Gates Foundation, of which he is currently a trustee.

Photo credit: Todd Tankersley