8 Most Frugal Billionaires of All Time

 

 

 

 

 

 

 

 

 

 

Stinginess is not something which only you and I do to save a penny. We always think of getting rich so that we can flee from our middle class lifestyle and enjoy the worldly pleasure and luxury. But you would be surprised to know, that there are few of world’s wealthiest men, who abstain from wasting money and are known for their frugal lifestyle. Here are the names of few billionaires, who usually think twice before spending money on anything, though they can buy everything.

Warren Buffett

$46 Billion

Country: United States

Despite being a multi billionaire, Warren Buffett is known for frugality, as he does not indulge himself in unnecessary expenditure. Buffett is the CEO of Berkshire Hathaway, a multinational holding company with many subsidiary firms primarily engaged in manufacturing, retailing and insurance services. Though, he is considered the most successful investor of the 20th century, he continues to live in the same modest home which he had bought in 1958 for just $31,500 located in Nebraska, United States of America. Surprising, he pays less taxes, as a percentage of income, than all of the other Berkshire Hathaway employees in the company’s home office–including the secretaries and receptionists.

 

Ingvar Feodor Kamprad

$ 42.2 Billion

Country: Sweden

The Swedish business magnate, Ingvar Kamprad, is the founder of IKEA, a retail company. More than for his wealth, he gained popularity for his pennywise attitude. He saves money in many ways, like he travels in economic class, drives a 1993 Volvo and usually dines at lower-tier restaurants. He also furnishes his home with Ikea’s affordable products. Recently, Kamprad was quoted as saying that the only luxuries he splurges on are the occasional expensive cravat and Swedish fish roe.

Jim C. Walton

$19.21 Billion

Country: United States

James Carr Walton is the Chairman of Arvest Bank. He was born on born July 7, 1948 and is the youngest son of Sam Walton who is the founder of Wal-Mart, world’s biggest retail chain and business. Being a member of America’s richest family, he inherited his family property which worth’s billions and also a careful spending habits from his father. Like his billionaire sister Alice, Jim also prefers having sturdy pickup trucks instead of stylish, expensive sports cars. He reportedly drives a 15-year-old Dodge Dakota.

 

Azim Premji

$12.2 Billion

Country: India

Azim Premji is currently the third wealthiest Indian, according to Forbes. Premji had inherited a cooking-oil business from his father and transformed it into technology-services giant Wipro during the 80’s. In 2011, he has been awarded Padma Vibhushan, the second highest civilian award by the Government of India. Parsimonious Premji drove a Ford Escort for eight years before trading it in for a new Toyota Corolla, but he usually travels by foot to office from his nearby home. When out on a tour, he prefers staying at budget hotels. He reportedly wears non-branded suits and flies in economy class. Paper plates were used at a luncheon in his son Rishad’s wedding a few years ago. 

Frederik Meijer

$5 Billion

Country: United States

The solitary retail tycoon, Frederik Gerhard Hendrik Meijer (December 7, 1919 – November 25, 2011) was the Chairman of the Meijer hypermarket chain in Michigan, United States. He was raised to be a penny-pincher. His father Hendrik was a barber, but switched to supermarkets opening Meijer Grocery in 1934. The father-and-son duo launched Meijer Thrifty Acres in 1962 and pioneered one-stop shopping, as it sold food and general merchandise under the same roof. Reportedly, he was the 60th wealthiest person in the United States at the time of his death. When alive, Meijer drove cars with exceptionally high gas mileage and worn low-priced suits bought off the racks of his stores. He also stayed in budget motels while travelling around the world.

 

Richard Kinder

$9.4 Billion

Country: United States

Richard Kinder was born in October 19, 1944, in Cape Girardeau, Missouri. Kinder took his first job as a lawyer and real-estate investor in Houston, Texas. After he filed for bankruptcy, he joined the Enron Corporation in 1990.  After serving as its President and COO, he left Enron in 1996. Today, he is the CEO and Chairman of the Board of Kinder Morgan Energy Partners, an energy and pipeline corporation. He believes in efficiency, prefers flying in coach on company business.

David Cheriton

$1.3 Billion

Country: Canada

David Ross Cheriton is a computer science professor at Stanford University.  He has made huge investments in technology companies and owns a large a large chunk of Google stock. Cheriton was ranked as the 19th wealthiest Canadian according to Forbes in 2012 with an estimated worth of US$1.3billion. Cheriton is known to have a frugal lifestyle, avoiding expensive cars or large houses. He usually rides his bike, though he also drives a 1993 Honda Accord or a 1986 Volkswagen camper. He is still living in the Palo Alto home which he had bought in 1981.  Most interestingly, the billionaire cuts his own hair rather than wasting time and money going to a barber.

 

John Caudwell

$2.4 Billion

Country: U.K.

John David Caudwell, the former auto-repair shop owner and Michelin engineer entered the cellphone business in 1987. This English business man is also a passionate sportsman; he used to bike 14 miles to work. He is a qualified pilot, and flies himself. He also cuts his own hair because, he says, going to a barber is a waste of time, and buys his clothes at inexpensive British retailer Marks & Spencer.

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