Vijay Mallya’s recent departure from India does bring one very important fact to mind – not all billionaires are the same. Not everyone with yacht-loads of wealth necessarily hosts larger-than-life parties or has garages full of the latest cars. Some billionaires love the idea of being frugal, and stick by their principles without caring what the world thinks of them. Take a look at 8 of the world’s most modest billionaires.
1. Michael Bloomberg
The founder and the owner of the Bloomberg empire has a net worth of $41.1 billion. The sixth wealthiest person in the US was said to have only two pairs of work shoes for the past ten years. He never changed his loafers and wore them for ten years!
2. John Donald Macarthur
The American businessman and philanthropist had a fortune of $1 billion. He saved loads of money on office leases, permit fees and home mortgage payments by operating from a hotel he owned.
3. David Cheriton
One of the first investors of Google, David Cheriton’s net worth is $ 3.6 billion. Cheriton saved money and cooking gas by saving half of his meals from expensive restaurants so that he wouldn’t have to buy a new meal the following day. The investor is also said to have had his hair cut from the same barber for the past 15 years, to save on tips and to avoid small talk.
4. Charlie Ergen
The co-founder of Dish Network is known for his frugal lifestyle. Ergen only eats his brown bag lunch, which consists of a sandwich and Gatorade. He also shares hotel rooms with his colleagues during business trips to save hotel expenditure.
5. Azim Premji
The Wipro giant, who is known as India’s wealthiest tycoon, loves driving second-hand cars! He also takes an auto-rickshaw from airports to home and tells his admin team to keep a strict watch over the office toilet paper usage. He often stays at budget hotels and wears non-branded suits to work. He also chose paper plates to serve food to the guests at his son Rushad’s wedding.
6. Ingvar Kamprad
The founder of furniture giant IKEA, with an estimated wealth of 65.5 billion euros, refuses to buy new clothes. Ingvar Kamprad buys second-hand clothes from flea markets and gets a haircut only when he is travelling in developing countries, because it’s cheaper!
7. Warren Buffett
The most successful investor in the world is said to be very wise with his spending choices. There’s an incident that shows how protective Buffett is of his cash – when a waiter once tried to pour him some rare, vintage wine, Buffett covered his glass and said, “No thanks, I’ll take the cash.”
8. John Caudwell
The English businessman, philanthropist and co-founder of mobile phone retailer Phones 4u, cuts his own hair and buys his clothes of the rack.
Article By : Neha Borkar