10 Billionaires That Are Cheaper Than You

[Music] people of regular means have always been fascinated by the ultra-rich perhaps because we know the chances are incredibly slim that will ever be among them most of us can hardly fathom the lifestyle of those with more money than they could possibly ever spend and it's safe to say that if you woke up tomorrow with a billion dollars in the bank the mother of all spending sprees would be among your first orders of business but it can be helpful to remember that all of those business moguls in tech entrepreneurs didn't get obscenely wealthy by spending all of their money and when it comes to the richest of the rich some of their spending habits would shock you in the exact opposite way that you might think today we'll be looking at these icons of extreme wealth who are surprising Paragons of frugality or to put it a bit more bluntly the top ten cheapest billionaire's on earth with the reported net worth north of 17 billion dollars Charlie Ergen is the richest person in Colorado he got his start selling satellite dishes out of the back of his truck eventually parlaying this small business into Dish Network itself one of the most notoriously frugal businesses in America strangely in his youth he was known to be an aficionado of gambling but in his personal and professional life ergun is rather adverse to taking financial risks as president and CEO of Dish Network he runs the company with an iron fist at one time requiring employees to clock in with fingerprint scanners and he's known for publicly humiliating executives who have the gall to be even a few minutes late for meetings but he certainly can't be accused of flaunting his wealth to this day ergun for gos dining out for lunch in favor of bringing sandwiches from home in brown paper bags just like we used to in middle school he never even flies first class preferring to save cash by flying coach even though he could afford a fleet of private planes employees may not always agree with his management style but even they have to admire his dedication to avoiding reckless spending ergun claims that his frugal ways save him thousands of dollars every year [Music] easily the richest man in Mexico Carlos Slim Helu built his fortune in telecom before delving into retail among many other arenas he owns more than 200 companies including telmex Mexico's largest phone service provider and he has more than once sat atop Forbes list of the richest people in the world with an estimated net worth of over seventy billion dollars such wealth should be associated with multi-million dollar mansions Shefford limousines and high-end tailored suits exactly none of which are part of Heller's style he's known to live in the same modest home he's owned for over 30 years and spends most of his downtime not jet-setting around the globe but living a quiet domestic life with his children and grandchildren most of his clothes are purchased right off the rack from one of the many retail outlets which he owns and even in a country where the wealthy are often targets for roving criminals hello still drives himself wherever he goes even more strangely despite being quite tech savvy he doesn't own a computer he prefers to do his own accounting and correspondence by hand with a paper ledger he's been called one of the most astute investors on the planet and he has the personal fortune to back it up but even if he intends to buy your company he'll still show up to the meeting in his own car wearing a cheap name-brand suit Jim Walton is the youngest son of Sam Walton the founder of Walmart which automatically puts him in some very wealthy company he presides over Walton enterprises which holds 90 billion dollars worth of Walmart stockin also manages several smaller companies his personal net worth is right around 40 billion dollars and you'd expect him to make his residence in some posh location on one of America's coasts but Jim prefers a different way of life he makes his home in the tiny town of Bentonville Arkansas with a population of less than 50,000 the very small town where the first Walmart opened in 1970 Jim still puts in long hard work days in a nondescript office building in Bentonville administering the family business with the help of about 20 employees he drives to work in a rusty old Dodge Dakota pickup truck usually the first to arrive in the last to leave his employees all agree that none of them would ever want his job because the man simply works too hard not exactly typical of a youngest billionaire in a family full of them but in the words of former Walmart CEO David glass Jim is just like his father he likes to get things done British Telecom local John Caldwell is far from the richest on our list with a personal net worth of about 2.4 billion dollars the founder of phones4u he gained most of his fortune by selling his 85 percent share in his telecom company in 2005 but the sudden wealth wasn't enough to make him change his frugal ways speaking with the Daily Mail Cod well said I was brought out to be frugal and it's definitely a factor in my success I was born in the 50s which was a frugal era and my family had to be very careful with money out of necessity Caldwell was once known to ride his bike 14 miles to go to work every day and he also has a taste for cheap suits he once told Forbes I don't need Savile Row suits I don't need to spend money to bolster my own esteem even cuts his own hair rather than spending money on a barber which is pushing the frugality envelope quite a bit for the man who was known as the UK single biggest taxpayer you might think that the world's richest retailer would be named Walton but it's not the case that title goes to Amancio Ortega a Spanish businessman who is best known as the owner of zara a european clothing chain which is a subsidiary of Inditex the world's largest retailer of apparel Ortega is worth nearly seventy billion dollars so his employees could be forgiven for being a bit puzzled to see the multi billionaire tycoon sitting down to eat lunch with them in the company cafeteria Ortega still lives in the same small Spanish town in which he was raised and is a familiar face to local residents but perhaps most surprisingly he is one of the few people in Spain and maybe all of Europe who never wears his own brand in fact he wears the same old suit to work every day and rather than retreating into a spacious private office he can more often be seen right on the factory floor going over new products with his designers by some accounts he's the second richest man in the world yet he goes about his business the same way he always asks with a modest image and a personal touch you may not expect to see one of your college professors on this list but if you happen to study computer engineering at Stanford prepare for a surprise professor David Cheriton has a personal net worth of over 6 billion dollars but he didn't amass his fortune by saving all of his paychecks like many billionaires he made a series of very savvy investments it was among the very first investors in the scrappy little internet startup called Google and since that initial venture he has provided funding for over 20 successful tech companies sheridan shares a lot of his most frugal traits with his fellow chief billionaires he cuts his own hair only flies couch and prefers jeans and a t-shirt to expensive designer clothes when he's not riding his bicycle around his Palo Alto neighborhood he can be seen behind the wheel of a 1986 Volkswagen sedan but on top of all of this he offers one money saving tip that seems a little excessive for anyone let alone an initial investor in one of the most successful companies on earth he claims that he reuses his tea bags call this crazy professor Sheridan but we can all likely agree that you've earned a full flavored cup of tea in buying a new box every week probably won't break the bank [Music] why pro is one of india's top tech companies posting clients is formidable as Microsoft Sony and Nokia it began in the 1940s as a manufacturer of cooking oil but transforming it into the International juggernaut that at least today took more than luck in business acumen it took the insane frugality of Chairman Azim Premji a man who has been described as making Uncle Scrooge look like Santa Claus even though his 16 billion dollar fortune would allow him to be completely hands-off he still administers the day-to-day dealings of Y Pro down to the smallest most ridiculous detail he's known to monitor how many rolls of toilet paper are being used by his employees and is always that they're ready to remind workers to turn off the lights when they leave for the day and in his personal life his financial habits are no more exorbitant he drives a battered old Toyota which is actually a step up from the battered old Ford Escort he drove previously when he's not in the mood to drive he's known to jump on one of the three-wheeled rickshaws ubiquitous in major Indian cities the so called bare-bones billionaire also refuses to fly in luxury taking economy class flights to all of his near daily business meetings around the globe but when it comes to philanthropy Premji can be coaxed to loosen his wallet he's donated tens of millions of dollars to charity established a university and created a foundation to help Indians land high-paying jobs [Music] Mark Zuckerberg needs no introduction despite a very recent public grilling before Congress in regards to Russian meddling in the 2016 US election he continues to be the familiar face of Facebook the monolithic social network which he helped found with a seventy billion dollar fortune he's known to splurge on real estate he owns a seven million dollar home in Palo Alto among many other holdings but for one of the richest men in the u.s. Zuckerberg has consistently shown an aversion to the other trappings of wealth he's not exactly known for being a snappy dresser usually being seen in basic name brand clothes and if cars are the ultimate status symbol it appears Zuckerberg couldn't care less about status he drives to work at the sprawling Facebook campus every day in a 2014 VW hatchback with a manual transmission which even fully loaded would have only set him back about $30,000 however Zuckerberg has also been known to put his money where his mouth is when it comes to philanthropy he's literally donated billions of dollars to charitable causes and even some of his real estate holdings such as to properties on the Hawaiian island of Kauai worth a hundred million dollars were purchased with an eye toward preservation rather than development with the net worth over eighty two billion dollars serial investor Warren Buffett has long jake'd for positions atop the Forbes list of the world's richest people one of the most successful investors to ever walk the earth Buffett is the chairman and CEO of Berkshire Hathaway a holding company which owns outright far too many American businesses for us to list plus own shares in numerous other companies across a dazzling array of industries from banking to Airlines you'd expect him to live in the kind of luxury that would put rock stars and professional athletes to shame but of course you'd be dead wrong in 1958 Buffett bought a five bedroom house in Omaha Nebraska for $31,500 and incredibly he lives there still rather than have his breakfast prepared by five star chefs he'll usually stop at McDonald's for a cheap meal on his five minute drive to work not only does he drive used cars he searches for vehicles on which he can get the best deal like those that have been damaged by hail he shuns the Jet Set vacation lifestyle in favor of quiet evening strumming is ukulele are playing bridge and dresses more like a high school principal than the world's most successful investor but like most of the richest of the rich he has dedicated a great deal of his resources to charitable endeavors in 2010 he was a cosigner on the gates Buffett giving pledge promising to donate at least half of his wealth to charity along with Zuckerberg the pledge was also signed by perhaps the only men with wealth to rival buffets and who is also just as famously cheap Microsoft founder Bill Gates is the richest man in America and a longtime friend of Warren Buffett who was apparently adopted the supreme investors frugal philosophy he may own several cars and live in a lavish home but some of his quirkier habits betray the fact that he didn't amass his 82 billion-dollar fortune by throwing his money around in keeping with Microsoft policy gates spent years flying coach to even the most high-stakes business meetings and one media event he revealed that the wristwatch he was wearing at the time only cost $10 like Buffett he's pledged to donate at least half his fortune to charity but also like Buffett he has a fondness for that cheapest to fast food joints McDonald's in a letter to his friend which was made public Gates reminisced about the time the to billionaire stopped off for a bite at a Hong Kong McDonald's a meal for which Buffett generously offered to pay with coupons [Music]

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Keywords: billionaire, money, wealth, luxury, poor, frugal, save money, cheap, cheap billionaires, cars, houses, mansions, richest people in the world, ikea, jeff bezos, bill gates, top 10, viral, new

Id: D8mh5tsM-Vw

Length: 10min 56sec (656 seconds)

Published: Sun Jun 10 2018