Talk about living below one's mean.
The "Oracle of Omaha" Mr. Warren Buffet has been doing that for 52 years. That's almost half a century despite the fact that he's a billionaire, with 9 zeros.
Warren Buffett epitomizes living modestly in today's tough economic climate. Despite a $47 billion fortune, the legendary investor and the world's 3rd richest man lives in the same five-bedroom, gray stucco house he bought in Omaha, Nebraska's Happy Hollow suburb in 1958 for $31,500.
This folksiness is in line with his famous investing philosophy. "If you don't feel comfortable owning something for 10 years," he once told a reporter, "then don't own it for 10 minutes."
Few billionaires are as frugal. Even in these tough times, modesty is a relative term among the super rich.