7 spending tips from Frugal Billionaires

[ginlimetonic]

http://en.wikipedia.org/wiki/Li_Ka-shing Sir Li Ka-shing, GBM, KBE, JP He is the richest person of East Asian descent in the world and the fourteenth richest man in the world with an estimated wealth of US$16.2 billion on 13 February 2009. "...In spite of his wealth, Li has cultivated a reputation for leading a no-frills lifestyle, and is known to wear simple black dress shoes and an inexpensive Seiko wristwatch, ..." when you're that rich, you just don't give a

anymore

 

[gorgekko]

Originally Posted by Nicola

IIRC most of the BMWs sold in Europe are 320D. It's basically an economy company car. The pricing is set so it gets a full tax write off. It uses almost no fuel (The latest version is almost 70mpg combined. Even higher highway) If you keep it the normal 1 to 2 years it's only a couple of oil changes at most for service. The trade in value is fairly high.

So it's a pretty simple buy for the company accountants. Audi makes a similar car. So does Mercedes.

Which is all nice but he was discussing American millionaires.

 

[Captain Winky]

I could have tons and tons of money and most of my dress clothes would still be OTR RLBL/Zegna Trofeo/C&J.

Also, if I were to fly private I'd charter not buy, I'd have two cars; one to drive myself (S5) and one for when I didn't want to drive (Towncar + driver), I'd have my condo in NY, my condo in SF and rent short term anywhere else (vacations, short or extended) and I'd find it really hard to do really crazy things like go out and order $5,000 bottles of wine. I'd also usually be seen in a stainless watch, though as a watch geek I'd probably have an awesome collection in my safe.

 

[SkinnyGoomba]

The only thing that makes me envious of the people that can afford it, is a driver.

 

[Captain Winky]

Originally Posted by SkinnyGoomba

The only thing that makes me envious of the people that can afford it, is a driver.

Amen! If there's one thing I don't understand it's DUIs of the rich and famous. I would looooooove to just give up having to drive myself regardless of whether I'm drinking or not. I guess I also envy the ability to pay MSRP for something I really want that's out of my price range (like $2k OTR suits).

 

[LabelKing]

If you're driving coupes and convertibles, you're not going to be using a driver.

 

[GoldenTribe]

Originally Posted by LabelKing

If you're driving coupes and convertibles, you're not going to be using a driver.
Couldn't the driver also be a Sports Illustrated swimsuit model? Oh, right.

 

[stylomilo]

Better be in a back seat of a car with a Sports Illustrated Model

 

[Manton]

Originally Posted by SkinnyGoomba

The only thing that makes me envious of the people that can afford it, is a driver.

Really? I thought you were into cars, i.e., like to drive?

 

[SkinnyGoomba]

Originally Posted by Manton

Really? I thought you were into cars, i.e., like to drive?

I like the mechanical aspect mostly, I drove my car almost every trick down the track, but I actually preferred when I had a friend drive my car. One of my good friends (since passed away) Adam Landolfi was an excellent driver, he did a much better job of driving than I could. But he often mentioned to me that he had never driven a more refined race car than my own.

 

[Captain Winky]

Originally Posted by LabelKing

If you're driving coupes and convertibles, you're not going to be using a driver.

Yes, but there may be times you prefer to have a car available to you. I'm thinking you live in NYC/Boston/DC/other big city, and want to get away for the weekend where it might make sense to have your own wheels. For regular around-town motoring, I'd rather leave that to the pros.

 

[Bull]

Driver = waste. Buy one of these bad boys (though you of course needn't be a billionaire)...

 

[Sartorial1]

But,
pick up your R8 used,
a couple of years old,
at half price!

That's how I got mine,
It's gorgeous.
But,
I just couldn't bring myself to pay the retail/new price.

 

[Bull]

Originally Posted by Sartorial1

But,
pick up your R8 used,
a couple of years old,
at half price!

That's how I got mine,
It's gorgeous.
But,
I just couldn't bring myself to pay the retail/new price.

Really? Car's only been out for three years. Kudos for finding one half off...they don't even sell on eBay for less than the $90,000s. Sheesh...

 

[Sartorial1]

Half is stretching.
Was in the high $80s.
With tax, license, etc: $90s.
But I've seen some new ones listed pushing $180K


Mine: First year model,
but low miles (just for show).
Difficult economic times?

Didn't consider eBay as a possibility.
Really wanted to see, feel, drive & inspect.