There is a good chance that you have spent at least a few moments in the past little while thinking about what you would do if you won a ton of money. Many of us think about big houses, fast cars, yachts and more. However, there are people in the world that proverbial “ton” of money but don't spend it in the ways you would expect. While these people have more money than most of us will ever see, they still live like regular people. Read on to learn about 5 extremely rich individuals who live far more frugally than they need to. 

Warren Buffett

With a net worth of over $70 Billion, Buffett is one of the single richest person on the entire planet. His role as one of the most admired investor in the world and the chairman of Berkshire Hathaway has granted unbelievable wealth. This is a guy that could pretty much do anything he wants, but he decides to live in a frugal manner. He still lives in the home he bought over 50 years ago for a modest $31,500. He also doesn't own a yacht or any other expensive toys, and he pledged to give away the bulk of his wealth to the Bill & Melinda Gates Foundation. 

Get a $50 cash bonus and commission-free trades*
Wealthsimple Trade

Get a $50 cash bonus and commission-free trades when you open a Wealthsimple Trade or Crypto account and deposit and trade at least $150. Sign-up today to take advantage of this offer!

Offer: Get a $50 cash bonus and commission-free trades*
Sign up today
Get $25 cash in bonus*
Wealthsimple Invest

Wealthsimple Invest is a simple and affordable way to invest your RRSP, RESP or TFSA. 

Offer: Get $25 cash in bonus*
Sign up today
*(min. $500 initial deposit)

Ingvar Kamprad

Unless you have lived under a rock for the last few decades, you have likely heard of the Swedish furniture brand and store, Ikea. Well, Kamprad is the founder of that company and is worth billions of dollars. But instead of living a lavish life, he prefers to keep it simple. Kamprad flies coach when he travels and when he needs to get around town, either drives a nearly 20-year old car, or rides the bus. He also enjoys eating at cheap restaurants and has a fairly modest home, mainly outfitted with his own companies furniture.

Carlos Slim

Slim has a net worth of around $50 Billion and is involved in many different businesses and companies in Mexico. He is one of the richest men on the entire planet, but you wouldn't know that if you just met him on your daily journey. Slim has lived in the same modest home for four decades and doesn't own a plane or yacht, despite the fact he can afford a fleet of both. He also prefers to keep a notebook, not a computer, to record his financial data.

Chuck Feeney

While he is only worth a few million now, don't get it twisted, Feeney was one of the richest men on the planet. He founded Duty-Free and was worth nearly 10 Billion. But instead of spending a ton of money in his life, he decided to live frugally. He lives in a rented apartment, doesn't even own a car and flies economy class. He has given away over $8 Billion in his lifetime and is arguably the most philanthropic person in history.

David Cheriton

Cheriton is currently a Stanford computer science professor worth nearly $5 Billion. Most of his fortune comes from his early investments in many different companies, including Google. Despite being a billionaire, he hates living like one. He cuts his own hair, drives a modest car (a 2012 Honda Odyssey), rarely travels and lives a pretty normal life. If you took one of his classes at Stanford, you would have no idea this man is worth more than 99.9% of the population. 

Compare dozens of Online Brokers platforms
Compare Canadian Online Brokers

Compare dozens of Canadian Online Brokers platforms and find the one that best suits your needs

Compare now