US billionaire worth staggering $8bn shares surprisingly frugal driving habit most people wouldn’t think twice about
It just goes to show that enormous wealth doesn't automatically translate to grand spending habits.
We've seen the likes of the world's richest man choosing modest living, favouring a pre-fab box house close to his SpaceX Starbase facility after selling off his mansion collection.
Meanwhile, other tech billionaires like Bill Gates and Warren Buffett have committed to donating the majority of their fortunes through The Giving Pledge.
When it comes to driving, not everyone gravitates to flashy supercars either.
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Daniel Radcliffe chose to invest his Harry Potter earnings into carbon-friendly vehicles, while Meta's Mark Zuckerberg has famously driven several budget-friendly cars including a Honda Fit and multiple Acuras.
While the CEO recently ‘upgraded’ to a Cadillac, it's still quite inexpensive for a man worth hundreds of billions.
Bernard Arnault, who briefly held the title of the world’s richest man a few years ago, reportedly drives a humble Peugeot 205 GTI. Unsurprisingly, Arnault's net worth and association with the car actually doubled its value.
Now, one hedge fund billionaire apparently still watches every penny when it comes to his vehicle expenses.
Billionaire Bill Ackman is worth between $8 billion and $9 billion and is widely recognised as a controversially vocal and influential hedge fund titan whose reach extends across politics and business. Yet, he still takes time to hunt for ways to save his cash.
The founder of Pershing Square Capital Management says his father instilled in him, at a young age, the value of never wasting money. Speaking to Fortune, Ackman said: “If I left my light on in my room, he’d get really upset. Now I go around the house turning off every light.”
Clearly, this mindset has stuck and affects other areas of his life.
"If I don’t like the price of the garage, I’ll go to a different one,” he explained. "It’s funny. I don’t like paying for parking, and I used to own a parking company.
“Or it really upsets me if the gas grill was running over the weekend—which it was, and it p***** me off. I really don’t like wasting money. I wouldn’t call it a neurosis, but it’s something that I care about.”
Ironically, Ackman had a significant stake in Impark, one of America's largest parking operators, before selling it for millions.
According to Fortune, Ackman has even taken credit for helping President Donald Trump secure his election. But even after his investment successes and reaching over two million X followers, the 59-year-old maintains a relatively ordinary home life.