Despite his billions, Mark Zuckerberg drives a modest Accura
If you think the headline is odd, or stupid, or plainly click-baiting, think again.
After all, for us, a “billionaire,” is one who has more money than he can spend in a lifetime, lives in a mansion, with a garage larger than your home.
He has breakfast at home, hops in his private jet for a luncheon meeting in the Bahamas, and a late night dinner in Zurich.
In each stop, a chauffeured limo picks him up, with a very sexy valet to attend to his needs.
His tips are large enough to cover your week’s budget and his wardrobe is fit for a king.
In other words, a billionaire spends, not save.
In the movies, perhaps, not in the real world. In fact, some billionaires can put Scrooge to shame.
The following billionaires, for example, are just like that, and are sharing their money-saving strategies.
Here’s how they do it.
Have a Good attitude:
Jack Ma (net worth $10 billion) is a self-made man who founded the Alibaba Group, an online store.
Jack said, “The very important thing you should have is patience.”
Ma believes that a person’s attitude, how he lives his life, is more important than ability.
He translates his beliefs by putting the customers his priority #1.
Howard Schultz (not worth $2.2 billion) is the chairman and CEO of Starbucks and believes that a person’s values are far more important than his net worth.
He was quoted saying, “I never wanted to be in any billionaire’s list. I never have defined myself by net worth. I always try to define myself by my values.”
Sir Li Ka-shing (net worth $31 billion), GBM, KBE, JP, is a Hong Kong business magnate, investor, and philanthropist.
As of 2016, according to Forbes, Li is the richest man in Hong Kong and the second in Asia.
Not bad for a school dropout who now employs more than 270,000 across 52 countries.
Is he careless with his money? No! In fact he attributes his incredible success to living a humble and simple life.
His money-saving advice? Teach yourself to live off less and adapt a lifestyle that is appropriate, and not spectacular.
Settle for What is Comfortable:
Michael Bloomberg (net worth $34.3 billion), known as the most controversial mayors of New York City, and the majority shareholder of Bloomberg L.P., an international financial information company.
Away from the prying eyes of the business and celebrity worlds, Bloomberg only owns two pairs of shoes the past 10 years – both black loafers.
He finds them comfortable and functional. He spending a fortune on shoes he may never wear can better be used somewhere else.
Warren Buffett (net worth $66.1 billion) is an American business magnate, investor and philanthropist. He is the chairman, CEO and largest shareholder of Berkshire Hathaway, and is considered one of the most successful people in the world and consistently ranked among the world’s wealthiest people.
Despite his billions, he still lives in the same 5-bedroom stucco house in Omaha, Nebraska he bought in 1958 for $31,500.00.
What is his money-saving advice? Buy a home that fits your needs.
John Caudwell (net worth $2.6 billion) is the founder of Phones 4U and considered one of the richest men in Britain. He also loves to flaunt his fortune by having a mansion, a yacht and a helicopter.
But when he is London, he prefers to walk, ride or use public transport to go around instead of using flashy cars.
Ingvar Kamprad (net worth $53 billion), is the founder of IKEA, an international group of companies that designs and sells ready-to-assemble furniture, appliances and home accessories.
Ingvar believes that some spending is just not needed even if you have plenty of money.
Like other super wealthy people, he prefers to fly economy, even if can easily afford a private jet.
He once wrote, “We don’t need flashy cars, impressive titles, uniforms or other status symbols. We rely on our strength and will.”
Mark Zukerberg (net worth $30 billion), the founder of Facebook can hardly be seen wearing anything other than his “signature” sports shirts.
He also drives a modest, entry-level Acura sedan which he bought for $30,000.
He could easily buy any car he wants but he is completely happy with his simple and practical car.
Jim Walton (net worth $34.7 billion), is the youngest son of Sam Walton of the WalMart fame.
Like his father, he lives a very frugal life. Despite his great fortune, he still drives around in a 15-yr-old pickup truck.
He thinks it is better to get all you can out of your vehicle, rather than drive around in the flashiest and most expensive vehicles you can get your hands on.
Learn from Your Mistakes:
Bill Gates (net worth $79 billion) once said, “It’s fine to celebrate success, but it’s important to heed the lessons of failure.”
From a guy who has made no less than ten horrible money mistakes, he is talking from experience.
But people with lots of money can easily bounce back from their mistakes. Ordinary people like you and I cannot. We can even lose the shirts on our backs.
Carlos Slim Helú (net worth $78.5 billion), is a Mexican businessman, investor and philanthropist, and has recently overtaken Bill Gates as the richest man in the world.
And what is his money advice? Start saving your earnings as early as possible. The sooner you do it, and managing properly, the better off you will be later on in life.
That is no brainer, right? But how many can and do it?
Rose Kennedy (net worth unknown at time of death in 1995) is the matriarch of the famous Kennedy clan. She was also famous for looking for alternatives to save money. She could easily have won the title, “Recycling Queen,” in her time.
Instead of buying scrap paper reams to scribble notes on, she waited until the end of the year and bought desk calendars that had outlived their usefulness.
Funny, isn’t it? Or ingenious!
Make a Budget:
John Donald MacArthur (net worth $1 billion) was the sole shareholder of Bankers Life and Casualty Company of Chicago.
Despite living in an era when Hollywood glamour and glitz drove rich people to outdo each other, John refused to be taken into the fray and stuck with his $25,000 annual budget, foregoing extravagant luxuries.
Thomas Boone Pickens (net worth $1 billion) is an American business magnate and financier, and is the chairman of BP Capital Management.
Despite the wealth at his disposal, he never carried more money in his wallet than he needs.
He makes a list before going to the grocery, buys only on what is in his list, and money enough to pay for them.
To T. Boone Pickens, you couldn’t spend money you don’t have.
Don’t Pay for Something You can Do:
Actually this makes complete sense. But David Cheriton (net worth $1.7 billion) has taken this to heart.
David is a Canadian computer scientist, mathematician, businessman, philanthropist and venture capitalist. He was one of the original investors of Google, and founded and heads the Distributed Systems Group.
He also does not spend on things he can do himself. To prove the point, he cuts his own hair to avoid spending on barbers.
He thinks this small savings can add up if applied to other areas of your life.
People may call them oddballs, freaks, odd or simply tightwads. But at the end of the day, they are still richer than us.
So if you are wondering why the rich seems to get richer, while the poor becomes poorer, it is because they know how to make money better than us, and, are very careful on how they to spend it.