If you want to be happy, a million dollars won't do it for you, says Warren Buffett.

Warren Buffett argues that money is not the most important thing

To be more specific: As of today (November 4), Warren Buffett , the American investor and CEO of Berkshire Hathaway, is ranked 11th on the Bloomberg billionaires list.

His net worth is estimated at $143 billion . Yet the entrepreneur has been saying for years that it's not the extra zeros in his bank account that make people happy.

"Even a million dollars won't make you happy. It's not going to happen," he told CNBC in 2018.

Why? He believes it's about comparison. When we earn that proverbial million, we quickly realize someone else has two million... There will always be someone richer than us.

Can you be happy without millions in your account?

While Warren Buffett never spent money to show off new cars , yachts, or mansions , he certainly doesn't believe that money has no meaning. It allows us to feel free , enjoy a comfortable life , and have the opportunity to pursue our passions and dreams . That's obvious.

The current billionaire, however, emphasizes that he had a great time even at the point in his life when his net worth was a modest $10,000. The Berkshire Hathaway CEO explains that we shouldn't postpone joy until we have six or seven zeros in our bank accounts. He also believes that more expensive things don't necessarily bring us more happiness.

In a 2017 interview with PBS NewsHour, Buffett explains why he didn't trade in the house he bought in 1958 for a larger one.

"If I could spend $100 million on a house that would make me a lot happier, I would. But for me , this is the happiest house in the world. It's full of memories, and people want to come back to it ," he said.

Whatever the case, the person ranked 11th on the list of the richest people in the world probably knows what he's talking about...