The 7 Most Frugal Billionaires in the World

Seeing billionaires spend their fortunes on luxurious mansions, private jets, super cars, or out-of-this world vacations has become the norm. But you may be surprised to learn that this is not always the case. Some billionaires out there opt for a simpler lifestyle, despite the billions of dollars stashed away in their bank accounts.

Following, we would like to present you with a list we have compiled of the top 7 most frugal billionaires in the world, ranked according to their net worth. Let’s take a look at the countdown.

No. 7: Azim Premji (chairman at Wipro Limited (ADR) (NYSE:WIT))

Net worth: $12.2 billion

As founders of one of the biggest technology corporations in the world, Premji is one very wealthy man. Part of the reason why he amassed his fortune is the fact that he is very careful of the money he spends. Premji still drives his personal car, a 1996 Ford, and only takes the rickshaw to travel from the airport in his local Bangladesh. Premji’s frugal ways extend to his facilities, where he monitors the rolls of toilet paper consumed and demands that staff members turn of the lights whenever they leave the office.

No. 6: Jim C. Walton (Wal-Mart Stores, Inc. (NYSE:WMT) heir)

Net worth: $19.2 billion

The youngest of the Walton siblings, all heirs to an impressive fortune, Jim C. Walton follows his father’s philosophy when it comes to maintaining a low-key and frugal lifestyle. He resides in a modest Arkansas property and his office is located in a plain and typical old brick building. In addition, he drove his beloved Dodge Dakota for more than 15 years.

No. 5: Karl Albrecht (Aldi’s co-founder)


Net worth: $25.4 billion

Karl Albrecht, alongside his also billionaire brother Theo, was raised in a simple and modest household and they both maintain a frugal lifestyle, despite the massive fortunes they have amassed. Back in 1971, when Theo was kidnapped for ransom, Karl negotiated a $4 million deal, which he then wrote off as a business expense.

No. 4: Christy Walton (heir of the Wal-Mart fortune)

Net worth: $27.9 billion

Christy Walton is the widow of John Walton, son of Wal-Mart founder Sam Walton. Despite marrying into an impressively rich family, Christy wanted to raise her son in a normal and un-extravagant environment. After John passed away in a plane crash, Miss Walton donated their home, a 1986 estate outside of San Diego, to charity.

No. 3: Warren Buffett (CEO of Berkshire Hathaway Inc. (NYSE:BRK.A))

Berkshire Hathaway

Net worth: $46 billion

Warren Buffet may be America’s most popular and influential entrepreneur, as well as one of the wealthiest men in the world, but you wouldn’t tell based on the way he chooses to live. Buffet still resides in his home in Omaha, Nebraska, an estate which he purchased over 50 years ago, for a little over $30,000. When he got married to his second wife, Buffet decided to once again defy the norm, by organizing a low key afternoon ceremony. So what does he do with all of his billions, you may ask? Well, while he doesn’t like to spoil himself, Buffett has donated over $30 billion to various charity causes throughout his lifetime.

No. 2: Amancio Ortega (Zara’s founder)


Net worth: $57.5 billion

Even though Zara has had an overwhelming success over the past 2 years, raising Ortega’s net worth by more than $22 billion, this Spaniard doesn’t like to over-indulge himself. Ortega and his wife share an apartment in sunny Spain, and he keeps to a simple dress code for work: white shirt, gray pants, and a blue blazer. He typically has lunch with his staff at Zara’s cafeteria and he buys his coffee from the same shop every single day. The only thing he did do to spoil himself was to purchase a Bombardier private jet.

No. 1: Carlos Slim Helú (CEO of Telmex)

Net worth: $69 billion

According to Forbes Magazine, Slim is the wealthiest man in the world, but his lifestyle is not as extravagant as you might expect. He still lives in the same home he has owned for the past 3 decades, a modest 6-bedroom house. Unlike other mogul CEOs, Slim still prefers to drive himself to work. Private jets or luxurious yachts? Not for Carlos Slim Helú.