These Are the Surprisingly Frugal Habits of Some Top Billionaires [Infographic]

by | BiggerPockets.com

BiggerPockets readers understand that financial independence is not just about making money, it’s also about making smart choices with how you spend your money. Sure, you might be able to afford a Starbucks coffee each day, but making coffee at home could save you more than $10,000 over a ten-year period of time. The six billionaires featured in the infographic below demonstrate that substantial cost savings can be found hiding in plain sight—and they just may inspire you to uncover some of your own.

Related: What Key Practices Set Billionaires Apart From the Middle Class?

The World’s Most Frugal Billionaires

Warren Buffet may be the most successful investors in the world (with a net worth of nearly $90 billion), and yet he does not carry a smartphone or spend $4 on breakfast (sorry, Starbucks). And long after Amazon founder and CEO Jeff Bezos was well on his way to becoming the richest person on the planet, he still drove a modest Honda Accord. Read on for more cost-saving habits of some of the world’s richest business men.

Related: Here’s What 10 Billionaires Say You Should Do Every Day

What are some ways that you practice frugality?

Share your tips and tricks below!

About Author

Lindsay Tucker

Lindsay Tucker is a writer, editor, and real estate junkie in Denver, Colorado. Check out more of her work at lindsaytucker.com.

12 Comments

  1. Not so fast. Warren Buffett has a private jet. These jets can cost well above $65 million and the operating expenses are very high.

    Jeff Bezos mansion has 25 bathrooms. Ironically, the house only has 11 bedrooms. It makes one wonder why you would need so many bathrooms for one family.

    Mark Zuckenburg has over 150 million dollars worth of real property and land in Hawaii alone. It’s their money, they earned it so they can do as they please. I just don’t see the frugality in these three examples.

    • Ronald Rohde

      Absolutely, its like saying I have an old hammer that I use on occasion instead of buying a brand new $100 model.

      RE: bathrooms, half baths in foyer or library/sitting area. Gyms or pools will all have bathrooms, but won’t increase the bedroom count. Bathroom in the garage anyone!?

    • Max Miller

      A car is a depreciating asset while real estate is an appreciating asset. I think the key here is to limit spending on things where you will not recoup or grow your money. Also, I thinks jets hold their value pretty good. If not, I’m sure there is a deduction for that.

  2. James Fisher

    This list is…disingenuous at best. Bezos and Zuck may own/drive an old Accord or GTI, the their business/trust (charitable trust at that! haha) provides them with private jets, private compounds in HI, and whatever else they want. It’s just not listed as their personal property.

  3. Dawn Quinn

    This is a cute article but doesn’t really provide any material help.. Get it don’t buy expensive coffee, breakfast, or lunch. Don’t lease a car and buy used and keep it until it dies….got that.. Buy your clothes in the T-shirt isle or second hand. Agree! but was hoping for more…Thank you though.

  4. Kevin Humphreys

    I’m always amused by articles like this one that describe Buffett’s house as “modest.” Yes, he’s owned it a long time but the house is 6,600 square feet. That’s not modest by any standard I’m aware of. It may be modest compared to some other billionaires’ homes but that is more of a reflection on how over the top they are than anything else.

  5. $31,500 in 1958 dollars is something like $275,000 in 2018 dollars. I’ve seen Warren Buffet’s house in Omaha, it’s very nice and very large even compared to today’s McMansions.

  6. Eric Cecere

    I already pack lunch and drive an older car. Next comes billionaire status! This is a great post and just shows you that no matter how much wealth you amass you still need to have priorities on how you spend money. I had a friend who was trying to invest but said he had no money to spare. Turns out he spent over $250 per month just eating lunches at work. Once I convinced him to bring lunch and make a few additional changes he now saves almost $500 per month. Small changes and sacrifice can make a big difference.

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