The people mentioned in this article are all billionaires. With that much money, you would have thought they can buy anything they want. Surprisingly, all of them live simple lives, often living below their means. For them, mansions, sports cars, private jets, exquisite vacations and all those fancy luxuries are trappings of wealth. They don’t see this abundance of possessions as a fulfilling endeavor.
Warren Buffet, Investor
Bloomberg Billionaire Rank (July, 2015): 4
Net Worth (USD): $66.9 B
The world’s greatest investor purchased a 5-bedroom home in Omaha in 1958. He still lives there today. He considers yachts, jets, sports cars and most toys as a pain in the neck. They end up owning you. For him, the ultimate luxury is being able to do what he loves to do everyday.
So, what does he plan to do with all his money? 99% to charity, 1% to his heirs. In his own words, I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing.
Indeed, a simple life is a happy life.
Ingvar Kamprad, Ikea Founder
Bloomberg Billionaire Rank (July, 2015): 8
Net Worth (USD): $42.4 B
It’s surprising that despite his fortune, Ingvar Kamprad prefers a frugal lifestyle. He rides an economy class plane when he could have easily spent a fraction of his money buying his own. He also makes it a point to buy at bargain prices rather than pay full price. And of course, he uses IKEA furniture in his modest home (not a mansion).
Jim Walton, Wal-Mmart
Bloomberg Billionaire Rank (July, 2015): 14
Net Worth (USD): $36.3 B
Jim is the youngest son of Sam Walton, founder of Wal-Mart. He maintains a low key lifestyle and is the only heir who remains in the family’s hometown, Arkansas.
If there’s one thing we can learn from these top money magnets, it’s that the number isn’t important. It’s what you have become that counts.