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The unthinkable has happened: After years of using a bargain bin flip phone, billionaire and famous Apple investor Warren Buffett acquired an iPhone. The Berkshire Hathaway CEO made the stunning admission on CNBC's "Squawk Box" on Monday morning, reversing one of his most old-school lifestyle choices.

Specifically, he said he's using an iPhone 11. Buffett indicated he'd been given iPhones before, including from Apple CEO Tim Cook. There's just one crucial bit of context that's missing. Is it an iPhone 11? Or an iPhone 11 Pro or iPhone 11 Pro Max?

Seriously, we have to know if he's into the iPhone 11 Pro's distinctive triple-camera system, or if the high-quality performance of the regular iPhone 11 is enough for him. Based on his interview with CNBC, it's safe to assume he doesn't care; Buffett said he mostly just uses it to make phone calls.

Prior to this monumental paradigm shift, Buffett used an old flip phone called the Sony SCH-U320. You can get one for less than $30. (Forbes says Buffett is worth around $88 billion.) The fact that he held out for so long despite Berkshire Hathaway owning more than 5 percent of Apple is impressive.

It's a good thing someone got an iPhone in his hands because otherwise he might have fallen prey to the recent revival of flip phones in the form of foldables. Even if he can afford its steep $1,500 price point, nobody deserves to be stuck with the new Razr.

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