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Strange Money Habits of Billionaires

By: Kum Cheong

The worlds top billionaires made their massive fortunes through multiple streams of income. Their secret to financial success is simple enough to replicate: find and turn on as many money taps as you can manage and soon you will be swimming in an entire lake of cash.

Besides having multiple income streams, a few of them actually opt for a life of frugality instead of flashy extravagance. In all likelihood, they need not worry about their monthly bottom-line anymore but unbelievably, they still take pains to spend carefully. Believe it or not, here’s proof using a few examples:

Strange Habits of Billionaires

  • 1) Ikea founder Ingvar Kamprad
    Drives a 15 year old Volvo, flies economy, avoids expensive suits and eat simply at lower-tier restaurants 
  • 2) Warren Buffet
    Lives in the same house he bought for just US$31k nearly 50 years ago. Instead of building a grandiose mansion with sprawling grounds. 

    Warren Buffet famously said this of his house 'How would I improve my life by having 10 houses around the globe? If I wanted to be a superintendent of housing, I could have that as a profession. But I do not want to manage 10 houses and I do not want someone else doing it for me. I am warm in the winter, I am cool in the summer. Its convenient for me. I do not know why the hell I will be happier. I could not imagine a better house'.
  • 3) British billionaire John Caudwell 
    Cycle more than 23 kilometres (14 miles) to work everyday to save cash (probably a few petrol dollars) and stay fit. He even cuts his own hair to save time and that extra few pounds!
  • 4) Azim Premji
    Owner of technology giant Wipro whose company generated 8.4 Billion in 2017, serves food on paper plates in a lunch reception honoring his son’s wedding!
  • 5) Mark Zuckerberg
    Chief executive and founder of facebook inc which generated revenues of 27.64 billion in 2016. Drives a Volkswagen GTI which cost US$30,000. He reportedly married his longtime girlfriend, Priscilla Chan in their backyard. 

It is strange how incredibly frugal these billionaires are. They all share a common purpose. Spending money was never their first love. Building something that they are passionate about is their ultimate joy.

Nevertheless, even if you are already self-sufficient in cash, try and experience for yourself some of their cash-saving habits. It maybe a little nutty but it is fun!

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