Billionaire's bargain: Warren Buffett reduces price of his Laguna Beach retreat by £2.4million

With a £67 billion fortune, investor Warren Buffett is the world's third richest man after Amazon founder and CEO Jeff Bezos and Microsoft’s Bill Gates, according to Forbes.

Despite his immense wealth, Buffett famously lives in a modest family home in Omaha, Nebraska.

That's not to say he lives a life of austerity, however, with a six-bedroom holiday home in Laguna Beach, California, in his portfolio.

However, the billionaire is now keen to part ways with the beach retreat, which he bought for £121,000 in 1971.

Buffett listed the property for £8.5million in February last year, which would have been a staggering return on his original investment.

However, after failing to find a buyer for the 3,88sq ft home, Buffett has reduced the asking price by a whopping £2.4million.

It's now listed for sale with Laguna Beach Real Estate for just under £6.1million.

The three-storey beachside getaway has ocean views across across Emerald Beach.

Understated interiors, sculpted ceilings and recessed lighting provide the perfect setting for the impressive collection of modern art.