Do Frugal Billionaires Actually Exist?
Not all billionaires are created equal. While you would assume that all wealthy people have mansions and yachts, that is actually not entirely true. Some choose to live a more frugal lifestyle, valuing simplicity and financial discipline over extravagant spending.
Whether it be by driving old, used cars or packing their own brown bag lunch—these big-shot business magnates remind us that although they have deep pockets, money isn’t everything.
Warren Buffett
Net worth: $73.3 billion
Warren Buffett is one of the absolute richest men in the world. As a business magnate and philanthropist, he not only rakes in the dough, but he shares the wealth, too.
And somehow, he has managed to not let it get to his head—and his home is proof.
USA International Trade Administration, Wikimedia Commons
Warren Buffet’s Forever Home
In fact, Buffett lives a fairly modest life. He still lives in the same home he bought over 50 years ago for around $30,000. And his wedding to his second wife was said to be a low-key affair.
Chuck Feeney
Net worth: $2 million (was $7.5 billion)
Chuck Feeney went on record saying, “I set out to work hard, not get rich”, and he has surely done both. He made his fortune as a co-founder of Duty-Free Shoppers Group, a travel retailer in Hong Kong—but then he gave it all away.
Charles F. Feeney, UC San Francisco (UCSF)
Chuck Feeney Secretly Gave Away His Money
Feeney was also the founder of the Atlantic Philanthropies, one of the largest private charitable foundations in the world. He then went on to secretly give away much of his fortune over the course of many years.
Sources say he donated more than $8 billion in his lifetime—most of which he did so anonymously. He lived out the remaining years of his life with a few million in the bank as a safety net.
Remembering Chuck Feeney, a great philanthropist, Bill Gates
David Cheriton
Net worth: $19.8 billion
Canadian computer scientist David Cheriton is a Stanford professor who got rich off of Google shares as one of the original funders. Aside from being a brilliant scientist and a savvy businessman, Cheriton is also a philanthropist.
Cheriton has donated close to $50 million to various educational programs that support computer sciences. In fact, he prefers to give than to spend—and he goes to great lengths to do just that.
David Cheriton Cuts His Own Hair
Cheriton has a reputation for a frugal lifestyle, avoiding costly cars and large houses. Actually, he once made the list for “cheapskate billionaires”. To get more specific, Cheriton cuts his own hair, reuses tea bags, flies coach, prefers to ride a bike instead of a car, and lives in the same Palo Alto home he’s owned for decades.
David Cheriton: The Professor Who Wrote Google Its First Check, Forbes
David Green
Net worth: $6 billion
David Green amassed his billions as the founder and CEO of the craft company Hobby Lobby. But he’s not just a businessman. Green is a major financial supporter of Evangelical organizations in the US, and even funded the Museum of the Bible in Washington, DC at a whopping cost of $500 million.
With all that wealth, Green could own multiple private jets—but instead, he does the complete opposite.
The Man Behind Hobby Lobby Inspires Next Generation of Business Leaders, The 700 Club
David Green Flies Coach
Even if he didn’t want to drop a few million on a personal plane, he could at least choose first class. But instead, Green flies coach, along with all the other regular people in the world. And he doesn’t stop there. Much of Green’s lifestyle is said to be simple and frugal. Apparently, he doesn’t even own a personal cell phone.
Carlos Slim Helu
Net worth: $92 billion
As of 2025, Mexican business magnate Carlos Slim Helu was ranked the 18th-richest person in the world. He is also the richest person in Latin America.
How did he get so rich? Slim has extensive holdings in a considerable number of Mexican companies through his conglomerate, Grupo Carso. He is also an active real estate investor, which certainly helps.
But if you saw Slim on the street, you wouldn’t know he was a billionaire.
Barrett90035, Wikimedia Commons
Carlos Slim Helu Has Lived In The Same Home For 40+ Years
Despite being one of the richest people in the world, Slim lives a relatively frugal lifestyle. Not only does he live in the same home he’s had for over 40 years, he also does not own any luxury assets like yachts or private jets.
Slim also drives his own car, wears simple attire, and is known for being a “stickler for saving money”.
Azim Premji
Net worth: $19.1 billion (down from $32.2 billion)
Indian businessman and chairman of Wipro Limited, Azim Premji is formerly known as the Czar of the Indian IT Industry. He is responsible for Wipro’s success as one of the global leaders in software.
He’s been on several lists, including those for powerful and influential people. In terms of wealth, though, he dropped a few places in 2019 after giving away a substantial amount of money to charity.
But even with a few billion dollars left, Premji counts his pennies—and pays close attention to one particular detail.
Monikia Flueckiger , World Economic Forum, Wikimedia Commons
Azim Premji Drives Used Cars
According to Premji, being rich “did not thrill” him. By 2019, he had given $21 million to philanthropic causes.
Not only that, Premji is known for living a more frugal lifestyle, often being described as a “bare-bones billionaire”. He drives used cars, flies coach, and is known for reminding employees to turn off lights—to save money on hydro.
Jim Walton
Net worth: $115 billion
American businessman Jim Walton is currently an heir to the Walmart fortune—the world’s largest retailer. And considering he hails from one of the wealthiest families in the world, as of May 2025, Jim Walton is the 12th-richest person in the world.
But one thing the Walton family instilled in their children is frugality—and Jim goes to surprisingly lengths to uphold his father’s legacy.
Walmart Corporate, Wikimedia Commons
Jim Walton Drives A 15-Year-Old Dodge Dakota
Jim Walton’s father, Sam Walton (founder of Walmart), was famously known for driving a pickup truck that was adorned in coffee stains and had no AC. And now Jim has followed a similar path, driving a loyal 15-year-old Dodge Dakota—simply because it still works. Why not?
Rather than a mansion, Jim apparently lives in a plain old brick building in Bentonville, Arkansas. And he runs his business out of two floors of unmarked suites in another plain brick building.
Christy Walton
Net worth: $19.2 billion
Along with Jim, Christy also hails from the Walton dynasty. She is the heir to her late-husband John Walton’s fortune. John was another son of Walmart founder Sam Walton.
Christy was the richest woman in the world for many years, according to Forbes. In 2015, she reached a whopping $41.7 billion—but then most of that was transferred to her son.
Alberto E. Rodriguez, Getty Images
Christy Walton Is A Humble Billionaire
Aside from being known for her substantial philanthropic donations, Christy is also known as a “humble billionaire” who did her best to raise her son in a “normal upbringing” despite the family’s wealth. This included raising him in an 1876 Victorian home just outside of San Diego.
After her husband died, she donated the home to charity.
Alberto E. Rodriguez, Getty Images
Sergey Brin
Net worth: $127.4 billion
Sergey Brin was born in 1973 to two brilliant people—a mathematics professor and a researcher for NASA. Brin inherited his parent’s brilliance and became a computer scientist and businessman who went on to become a co-founder of Google.
Brin grew up in a small apartment that he shared with his family and elderly grandmother. But when he started making money—he never lost sight of his roots.
JD Lasica from Pleasanton, CA, US, Wikimedia Commons
Sergey Brin Buys Things In Bulk
Ok, so apparently Brin still happens to own several private planes, but he wants it on record that he apparently “dislikes spending money”.
Aside from donating millions of dollars to charity, Brin also frequently buys things in bulk at Costco, and admits to still “checking price tags” and calculating totals before approaching the cash register. He thanks his parents for teaching him how to be “happy with less”.
Original uploader was Coolcaesar at en.wikipedia, Wikimedia Commons
Mark Zuckerberg
Net worth: $206 billion
Mark Zuckerberg became a billionaire at the ripe age of 23, making him the youngest self-made billionaire at the time. As the co-founder of Facebook and Meta Platforms, Zuckerberg has been a “programming prodigy” since high school.
While he does have a $7 million mansion, this is apparently still “well beneath his means”—and that’s not all.
Anthony Quintano from Honolulu, HI, United States, Wikimedia Commons
Mark Zuckerberg Drives A Volkswagen Hatchback
According to sources, Zuckerberg is surprisingly unflashy about his wealth. He previously drove a black Acura TSX—because it was “safe”. He recently upgraded to a Volkswagen GTI, which is still a vehicle that typically costs no more than $30,000.
Zuckerberg is also known for wearing mostly plain grey T-shirts and hoodies, and got married in his own backyard.
Karl Albrecht
Net worth: $23.9 billion
German entrepreneur Karl Albrecht was the founder of the discount supermarket chain Aldi with his brother Theo. He was the richest person in Germany for many years, and in 2014, shortly before his demise, he was the 21st-richest person in the world.
Albrecht was raised in a modest home in Germany. And, just like his grocery store brand—he lived a frugal lifestyle that he carried into his adult life.
The Aldi Story 2014 - Karl and Theo Albrecht - Documentary HD - Company People Portrait, Doku21TV
Karl Albrecht Refused To Buy Phones For His Store
The Albrecht family grew up learning how to price-match, clip coupons, and make a dollar stretch. So, when it came time to introduce Aldi, they kept those values in mind.
Albrecht didn’t just preach frugality, he lived it. He kept his stores basic with unadorned interiors, and apparently refused to pay for telephones in his stores—encouraging employees to use public pay phones when needed.
Mike Mozart from Funny YouTube, USA, Wikimedia Commons
Tony Hsieh
Net worth: $840 million
Tony Hsieh was an American internet entrepreneur and venture capitalist. He was once the CEO of online retail store Zappos before selling it to Amazon for over $214 million. Before that, he co-founded the Internet advertising network LinkExchange, which he sold to Microsoft in 1998 for $265 million.
At one point, Zappos became known as one of the best companies to work for thanks to Hsieh’s unconventional management practices—but his personal life was equally unconventional.
JD Lasica from Pleasanton, CA, US, Wikimedia Commons
Tony Hsieh Lived In A Trailer Park
After spending years living in a high-rise penthouse alone, Hsieh sold everything and moved into an Airstream that cost less than $1,000 per month. In an episode of NPR’s “How I Built This” podcast, Hsieh told Guy Raz that he loved it “because there’s so many random, amazing things that happen around the campfire at night”.
He went on to say that he prioritized spending money on experiences, rather than things.
Charlie Ergen
Net worth: $2 billion
Charlie Ergen is the co-founder and chairman of Dish Network and EchoStar. In 1980, Ergen invested $60,000 in a business selling satellite dishes from the back of his truck. By 1993, EchoStar’s net income reached $20.4 million.
While he got rich quick, he remembers life before money—and it keeps him tremendously modest.
Charlie Ergen Brown Bags His Lunch Every Day
Believe it or not, the self-made billionaire packs a lunch of a sandwich and a Gatorade before work every day. He is known as a “notoriously frugal business leader” and claims he learned how to be frugal from a mom who grew up during the great depression.
He is also known to share hotel rooms with employees while on business trips—to split the cost.
Henry Kellner, Wikimedia Commons
Amancio Ortega
Net worth: $124.5 billion
Amancio Ortega is a Spanish businessman who founded Inditex fashion group, best known for its chains of Zara and Bershka clothing. He is often considered a pioneer in fast fashion.
For a brief period of time, in 2015, Ortega was actually the richest man in the world. Today, he is the head of the Ortega family, and the second wealthiest retailer on the planet.
When he counts his millions today, he is mindful of the fact that it all started in 1963—selling bathrobes.
Europa Press Entertainment, Getty Images
Amancio Ortega Eats In The Staff Room
Much like the other billionaires on this list, Ortega is heavily involved in charity. His Amancio Ortega Foundation has made massive, record-breaking donations to school and scholarship programs.
Aside from his philanthropy, Ortega is known for keeping a low profile—and living a frugal lifestyle (well, with the exception of a yacht or two). He apparently does not want to be associated with wealth. Ortega refuses to wear a tie, dresses in simple clothing—and prefers to eat his lunch at the group table in the staff room.
Ingvar Kamprad
Net worth: $58.7 billion
Feodor Ingvar Kamprad was a Swedish business magnate and founder of IKEA—the multinational retail company. He started by selling matches at age five. By age seven, he was selling Christmas decorations and ballpoint pens, and at age 17 he added furniture to the list and founded IKEA. By 2004, he was one of the world’s richest people.
But in 2006, an interview revealed something bizarre about Kamprad.
Ministry of Enterprise, CC BY 2.0, Wikimedia Commons
Ingvar Kamprad Recycled Tea Bags
As we know, Kamprad wasn’t the only frugal billionaire to reuse old tea bags. But it didn’t stop there. In 2006, Kamprad already had $18 million in the bank but he still drove a 1993 Volvo 240, flew coach, and apparently encouraged his employees to use both sides of a page when writing or printing—to save paper.
He was also known to keep little salt and pepper packages from restaurants, and relied on off-season sales for Christmas shopping.
André Karwath aka Aka
, Wikimedia Commons
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