Five Billionaires Who Live Below Their Means

[bhagathsingh]

Five Billionaires Who Live Below Their Means
by Katie Adams
Thursday, April 1, 2010


At least once in your life - maybe even once a week or once a day for
that matter - you have fantasized about coming into a lot of money.
What would you do if you were worth millions or even billions? Believe
it or not there are millionaires and billionaires among us who
masquerade as relatively normal, run-of-the-mill people. Take a peek
at some of the most frugal wealthy people in the world.

Warren Buffett


Millions of people read Buffett's books and follow his firm, Berkshire
Hathaway's, every move. But the real secret to Buffett's personal
fortune may be his penchant for frugality. Buffett, who is worth an
estimated $47 billion, eschews opulent homes and luxury items. He and
his wife still live in their modest home in Omaha, Nebraska which they
purchased for just $31,500 more than 50 years ago.

Although he's dined in the best restaurants around the globe, given
the choice he would opt for a good burger and fries accompanied by a
cold cherry Coke. When asked why he doesn't own a yacht he responded
"Most toys are just a pain in the neck." (Find out how he went from
selling soft drinks to buying up companies and making billions of
dollars.

While most of the world is very familiar with Bill Gates, the name
Carlos Slim rarely rings a bell. But it's a name worth knowing. Slim,
who is a native of Mexico, was just named the world's richest
billionaire – that's right, richer than the uber-famous Microsoft
founder. Slim is worth more than $53 billion and while he could afford
the world's most extravagant luxuries he rarely indulges. He, like
Buffett, doesn't own a yacht or plane and he has lived in the same
home for over 40 years.

Ingvar Kamprad

The founder of the Swedish furniture phenomenon Ikea struck success
with affordable, assemble-it-yourself furniture. For Kamprad, figuring
out how to save money isn't just for his customers, it's a high
personal value. He's been quoted as saying "Ikea people do not drive
flashy cars or stay at luxury hotels." That goes for the founder as
well. He flies coach for business and when he needs to get around town
locally he either takes the bus or will head out in his 15-year-old
Volvo 240 GL.

Growing up in the wake of The Depression as an Irish-American probably
has something to do with Feeney's frugality. With a personal motto of
"I set out to work hard, not get rich," the co-founder of Duty Free
Shoppers has quietly become a billionaire but even more secretively
given almost all of it away through his foundation, Atlantic
Philanthropies. In addition to giving more than $600 million to his
alma mater Cornell University, he has given billions to schools,
research departments and hospitals.

Loath to spend if he doesn't have to, Feeney beats both Buffett and
Kamprad in the donation category, giving out less grants than only
Ford and the Bill and Melinda Gates Foundations. A frequent user of
public transportation, Mr. Feeney flies economy class, buys clothes
from retail stores, and does not wast money on an extensive shoes
closet, stating "you can only wear one pair of shoes at a time". He
raised his children in the same way; making them work the same normal
summer jobs as most teens.

Frederik Meijer

If you live in the Midwest chances are good that you shop at Meijer's
chain of grocery stores. Meijer is worth more than $5 billion and
nearly half of that was amassed when everyone else was watching their
net worth drop in 2009. Like Buffett he buys reasonably-priced cars
and drives them until they die, and like Kamprad he chooses affordable
motels when on travel for work. Also, like Chuck Feeney, rather than
carelessly spending his wealth Mr. Meijer is focused on the good that
it can provide to the community.

[b]The Bottom Line

The dirty little secret of some of the world's wealthiest people is
that they rarely act like it. Instead of over-the-top spending,
they're busy figuring out how to save and invest to have that much
more in the future. It's a habit you might want to consider in order
to build up your own little storehouse of cash.[/b]

[BASTHI ME SAWAL]

I like the bottom line..


Save money like u r a jew..

[soulmate]

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[alister]

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