You’ll Never Believe What Mark Zuckerberg Drives and Other Surprising Habits of Billionaires
It probably goes without saying, but we’ll say it anyway: Billionaires live a lot differently than the rest of us. While they are different than us, billionaires share a few common traits. Most live in a few select U.S. cities, they created their own wealth, and they work in a handful of industries. Extensive education seems like a must, but some built their fortunes after dropping out of college.
Though billionaires can afford the finest luxuries, not all of them live extravagant lifestyles. The best way to stay rich is by not spending money, but these 10 billionaires take it to the extreme.
1. Michael Bloomberg
- Penny-pinching habit: Resoling old shoes
The former New York City mayor built a fortune in the business world. Part of the way Michael Bloomberg maintains his wealth is by not splurging on footwear. He apparently resoles his old shoes. We’re not talking about hundreds of pairs, either. His shoe collection is only two deep, surely a fraction of what other billionaires own.
Next: A financial whiz who saves money on his mortgage.
2. Warren Buffett
- Penny-pinching habit: Living in the same house he bought in 1958
The investment whiz is worth more than $84 billion and can afford nearly any residence in the world. Yet the only house he truly needs is the one he’s owned for 60 years. Buffett still lives in the same Omaha house he bought in 1958. Not all American billionaires are so frugal.
Next: Maybe our next billionaire has a really nice mirror.
3. John Caudwell
- Penny-pinching habit: Cutting his own hair
Mobile phones helped this Brit build up a multi-billion dollar fortune. Caudwell finds a great way to save money is by doing his own haircuts, telling Forbes it’s a waste of time to go to the barber. Perhaps he’s splurged on a really nice mirror to ensure those self-performed cuts turn out well.
Next: Simple tastes makes our next billionaire easy to please.
4. Charlie Ergen
- Penny-pinching habit: Eating on the cheap
The former CEO of Dish Network has seen his fortune dip recently, but he is well-versed in saving money. Even when closing billion-dollar deals, he prefers to provide his own lunch. According to the Financial Times, he once chose a hot dog from a street vendor over ordering lunch because it was cheaper. That’s one way to save money.
Next: The bling means nothing to this next billionaire.
5. Bill Gates
- Penny-pinching habit: Wearing a bargain watch
Microsoft’s co-founder is a noted philanthropist but is still worth billions. Yet you wouldn’t know he’s one of the richest billionaires if you looked at his wrist. In an interview with Politico, he said he wears a cheap wristwatch rather than a diamond-encrusted Rolex.
Next: Our next billionaire doesn’t mind bad traffic.
6. Carlos Slim Helu
- Penny-pinching habit: Driving himself to work
Like Warren Buffett, the Mexican billionaire Carlos Slim Helu still lives in a relatively modest (for a billionaire) home in Mexico City. Rather than hiring a chauffeur, and despite the notoriously terrible traffic there, Slim drives himself around town. However, it reportedly is a very nice car worthy of a rich man.
Next: One of many money-saving habits of the next person stands out.
7. Ingvar Kamprad
- Penny-pinching habit: Wearing flea market clothes
IKEA founder Ingvar Kamprad might have some dark secrets, but he’s not secretive about how he pinches pennies. He prefers flying coach. For a long time, he drove the same old Volvo. And he apparently shops for clothes at the flea market. Put it all together and it adds up to a roughly $50 billion fortune.
Next: An Indian billionaire who knows how to save.
8. Azim Premji
- Penny-pinching habit: Buying used cars
Azim Premji has built his company Wipro into an IT giant. The Indian sits in the top 100 on the Bloomberg Billionaires Index, but you wouldn’t know it from his ride. Rumor has it he went from driving a Ford Escort to the durable Toyota Corolla before upgrading to a used Mercedes he bought from an employee.
Next: Modest digs suit our next billionaire
9. Jim Walton
- Penny-pinching habit: Working from a modest office
Jim Walton, like the rest of the Walton clan of Walmart fame, hardly carry themselves like billionaires. Jim Walton reportedly drove a Dodge pickup truck for years. Though Walmart is planning a new headquarters, Jim Walton and the rest of the clan work in modest home office that is a simple brick building. Hardly what you’d expect from someone with more than $40 billion in the bank.
Next: Our next billionaire ‘likes’ the simple things.
10. Mark Zuckerberg
- Penny-pinching habit: Driving a regular car
We’ll leave aside the $7 million home Facebook creator Mark Zuckerberg bought for himself because, while modest in the world of billionaires, it’s more than most people can afford. Though his house may be above average, his rides certainly aren’t. According to CNBC, the cars he uses most often are an Acura TSX sedan and a Volkswagen TDI, two modestly priced cars.
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