7 Things Billionaires Refuse to Buy

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Despite their seemingly limitless wealth, many billionaires are surprisingly frugal and are very careful about how they spend their money.

From avoiding luxury items to saving on everyday expenses, here are some things that billionaires refuse to buy.

1. Expensive Clothes

Many billionaires, including Mark Zuckerberg and Bill Gates, are known for their simple and unassuming wardrobe. They often wear the same clothes every day, which saves them time and money. While they could undoubtedly afford the most expensive designer clothes, they choose to spend their money on more important things.

2. Luxury Cars

While some billionaires do have a collection of luxury cars, many prefer to drive more practical and affordable vehicles. For example, Warren Buffet drives a Cadillac XTS, which is a relatively modest car considering his wealth. Similarly, Alice Walton, the heiress to the Walmart fortune, drives a Ford F-150.

3. Extravagant Vacations

While billionaires do take vacations, they often prefer more low-key and private destinations. For example, Bill Gates is known to visit the small town of Hood River, Oregon, for his vacations. Similarly, Warren Buffet often vacations in Laguna Beach, California, where he owns a modest home.

4. Expensive Watches

Many billionaires, including Warren Buffet and Carlos Slim, prefer to wear inexpensive watches. Buffet has been known to wear a $20 Casio watch, while Slim has been spotted wearing a $100 Swatch watch.

5. Private Jets

While owning a private jet is often seen as a status symbol among the ultra-rich, some billionaires prefer to fly commercial or use private jet services instead of owning their jets. For example, Mark Zuckerberg has been known to fly commercial, and Warren Buffet used to own a private jet company, NetJets, but sold his stake in the company.

6. Big Houses

While many billionaires own multiple properties, some prefer to live in relatively modest homes. For example, Warren Buffet still lives in the same house he bought in 1958 for $31,500. Similarly, Mark Zuckerberg lives in a relatively modest home in Palo Alto, California.

7. Luxury Items

Many billionaires avoid spending money on luxury items that don’t provide any value. For example, Warren Buffet has said that he doesn’t see the point in buying expensive jewelry or other luxury items.

While billionaires undoubtedly have the means to buy almost anything they want, many choose to live a more frugal and modest lifestyle. From avoiding luxury items to saving on everyday expenses, these are some of the things that billionaires refuse to buy.

Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.

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