"Despite having billions to their name, some of the wealthiest people on the planet don't splurge on the material items that others shoppers might be tempted by. Berkshire Hathaway CEO Warren Buffett, for example, is famous for driving a 2014 Cadillac, which is covered in damage from a hail storm. Microsoft cofounder Bill Gates drives an electric Fiat500 gifted to him by Bono, while YouTube star MrBeast sleeps in his office and had to borrow money from his mom to pay for his wedding."
"So how do the rich stay rich? Apparently, by acting like they're not. High net worth individuals and $100,000+ earners Fortune spoke to said they try and keep their discretionary spending as minimal as possible, preferring the impact it has on their finances. While their friends might enjoy eating out a couple of times a week, they choose to cook for themselves-in fact, they even buy frozen groceries because they're cheaper than fresh."
Some billionaires and high earners practice intentional underconsumption to accumulate and preserve wealth, choosing minimal discretionary spending over luxury purchases. Examples include Warren Buffett driving a hail-damaged Cadillac, Bill Gates using a gifted electric Fiat500, and MrBeast sleeping in his office and borrowing money for his wedding. Practitioners cook at home, buy frozen groceries, avoid car ownership, repair capsule wardrobes, and buy secondhand toys. Underconsumption habits include no-buy challenges and decluttering. These behaviors often become second nature over years, enabling flexible work, earlier retirement, and stronger bank balances. Social media communities promote these practices as alternatives to consumerist trends.
Read at Fortune
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