Warren Buffett is now asking $7.9 million for the home he purchased in the 1970s for $150,000. : The billionaire investor reduced the $11 million asking price on his 3,500-square-foot home to $7.9 million, the Wall Street Journal reported. The home originally hit the market in February. And despite the price chop, Buffett stands to make a tidy profit on the sale. He paid just $150,000 for the property in the 1970s. The 87-year-old chairman of Berkshire Hathaway spent his holidays at the vacation house.