Top 10 Frugal Billionaires Who Live Like Miserable People
Frugal Billionaires Who Live Like Miserable People - Illustrated picture. Photo: Mixi's

Many millionaires and billionaires have something in common aside from having multi-figure net worths: They're frugal.

It's this characteristic that helped them become rich in the first place, according to Sarah Stanley Fallaw, director of research for the Affluent Market Institute. She co-authored "The Next Millionaire Next Door: Enduring Strategies for Building Wealth," in which she surveyed more than 600 millionaires in America.

The List of 10 Frugal Billionaires

1. Mark Zuckerberg

2. Warren Buffett

3. Bill Gates

4. Charlie Ergen

5. Carlos Slim Helú

6. Jim Walton

7. John Caudwell

8. Amancio Ortega

9. David Cheriton

10. Azim Premji

Who Are The Frugal Billionaires Who Live Like Miserable People?

1. Mark Zuckerberg

Top 10 Frugal Billionaires Who Live Like Miserable People
Photo: 24H

Mark Zugkerbug is one of the 10 richest people in the world, with a net worth of $63.6 billion — also lives a relatively low-key lifestyle. His daily uniform consists of a simple T-shirt, hoodie, and jeans.

Despite being able to buy a Ferrari for every day of the month, the Facebook founder drives a non-ostentatious Volkswagon GTI with manual transmission, which costs only $30,000. Other cost saving tricks: He reportedly married longtime girlfriend Priscilla Chan in their backyard, and the two were seen eating at a McDonald’s during their 2012 Italian honeymoon trip. When Zuckerberg bought his most recent home in 2011, a $7 million house in Palo Alto, some called it “still well below his means.”

2. Warren Buffett

Top 10 Frugal Billionaires Who Live Like Miserable People
Photo: CafeF

Consider billionaire Warren Buffett, who's worth $82.8 billion and is the world's third-richest person. Not one for lavish purchases, he spends relatively little money.

He previously told CNBC and Yahoo Finance's "Off the Cuff" that he's "never had any great desire to have multiple houses and all kinds of things and multiple cars."

He still lives in his modest Omaha, Nebraska, home, which he bought for $31,500 in 1958. Adjusted for inflation, it's about $276,700 in today's dollars. He also drives a modest set of wheels — a 2014 Cadillac XTS, which had an original MSRP of $44,600 in 2014. And instead of buying a smartphone, he uses a flip phone.

3. Bill Gates

Top 10 Frugal Billionaires Who Live Like Miserable People
Photo: The Guardian

Forget Rolex. Adorning Bill Gates's wrist is a $10 watch. And perhaps most frugally, Gates remains old-fashioned in that he still likes to wash the dishes at home every night for his family. Dishwashers use electricity after all!

Early Life

Gates was born William Henry Gates III on October 28, 1955, in Seattle, Washington. Gates grew up in an upper-middle-class family with his older sister, Kristianne, and younger sister, Libby. Their father, William H. Gates Sr., was a promising, if somewhat shy, law student when he met his future wife, Mary Maxwell. She was an athletic, outgoing student at the University of Washington, actively involved in student affairs and leadership.

The Gates family atmosphere was warm and close, and all three children were encouraged to be competitive and strive for excellence. Gates showed early signs of competitiveness when he coordinated family athletic games at their summer house on Puget Sound. He also relished in playing board games (Risk was his favorite) and excelled at Monopoly.

Gates had a very close relationship with his mother, Mary, who after a brief career as a teacher devoted her time to helping raise the children and working on civic affairs and with charities. She also served on several corporate boards, including those of the First Interstate Bank in Seattle (founded by her grandfather), the United Way and International Business Machines (IBM). She would often take Gates along when she volunteered in schools and at community organizations.

4. Charlie Ergen

Top 10 Frugal Billionaires Who Live Like Miserable People
Photo: CNBC

Charlie Ergen's frugal habits at work and home also take root in the way he was brought up. Ergen stepped down as CEO of Dish Network in December 2017 and currently has a net worth of $11 billion. "My mom grew up in the Depression," he told the Financial Times. "I don't have a mahogany desk." Every day, he brown-bags his lunch, which consists of a sandwich and Gatorade.

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5. Carlos Slim Helú

Top 10 Frugal Billionaires Who Live Like Miserable People
Photo: CafeBiz

Many who dream of being rich dream of a chauffeur. Not Mexican telecom magnate Carlos Slim Helú, who drives himself around town in an old Mercedes-Benz, buys clothes off the rack at his own retail stores, and for over 40 years, has lived in the same modest six-bedroom house in Mexico where he raised his kids.

6. Jim Walton

Top 10 Frugal Billionaires Who Live Like Miserable People
Photo: Business - Insider

Walmart scion and member of America's richest family, Jim Walton inherited the down-to-earth spending habits of his father, Walmart founder Sam Walton. These days, he runs the family's Arvest Bank, which boats assets of more than $16 billion, from the upstairs floor of a "plain old brick building." Despite his massive fortune, Jim Walton prefers pickup trucks to fancy sports cars; he reportedly drives around a rusting Dodge Dakota pickup that is over 15 years old.

7. John Caudwell

Top 10 Frugal Billionaires Who Live Like Miserable People
Photo: The Giving Pledge

This now-retired, self-made billionaire who built a British cellphone empire still maintains many aspects of a budget lifestyle.

He reportedly still cuts his own hair, refrains from buying expensive wines, and buys his clothes off the rack at British retailer Marks & Spencer. He once told Forbes, "I don't need Saville Row suits."

8. Amancio Ortega

Top 10 Frugal Billionaires Who Live Like Miserable People
Photo: DVT.VN

The world's richest retailer, and the wealthiest man in Europe, Ortega can be surprisingly stingy. When he overtook Bill Gates briefly to become the world's richest person for 2016, the press pointed out that Ortega eats in his staff cafeteria, and wears the same blazer and shirt every day.

The tycoon behind Zara still lives humble. Not only does Ortega live in a discreet apartment building with his wife, but he also frequents the same local coffee shop, in his home city of La Coruña, Spain, on a regular basis.

Known as the pioneer of "fast fashion," Ortega dresses very modestly given his status - with a uniform of a blue blazer, white shirt, and gray pants everyday. Perhaps most surprising, however, is that he still eats lunch alongside his employees in the company cafeteria.

9. David Cheriton

Top 10 Frugal Billionaires Who Live Like Miserable People
Photo: The Globe and Mail

Thanks to an early $100,000 investment in Google, Stanford professor David Cheriton has plenty of money. But still lives in the same home in Palo Alto, California, that he owned long before Google was founded. And he cuts his own hair.

Food can be a huge source of wasted money, as computer scientist and Stanford professor David Cheriton attests. He makes sure to save half of his meal for the next day when eating at an expensive restaurant. Instead of luxury cars, Cheriton prefers to ride his bike; when he does need to drive, he relies on his 1986 Volkswagen van or an old Honda sedan. He has also said that he only flies commercial, prefers jeans instead of expensive designer clothes, and even reuses his teabags.

10. Azim Premji

Top 10 Frugal Billionaires Who Live Like Miserable People
Photo: thenews

Despite his success serving over five decades as chairman of Indian tech-services giant Wipro Ltd., Premji lives a surprisingly low-budget lifestyle and is extremely careful with his spending. The "bare bones billionaire" often takes a three-wheel auto rickshaw from the Bangalore airport when returning home from business trips. When traveling, he only drives secondhand cars - such as an old Toyota Corolla, flies in economy class, and stays at company guest houses instead of five-star hotels.

His well-known frugality also extends beyond his personal life. At Wipro facilities, he reportedly keeps close tabs on toilet-paper usage and always reminds employees to turn off the lights when leaving their offices. As one worker anonymously told Bloomberg, Premji "makes Uncle Scrooge look like Santa Claus."

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