Billionaire Money Habits: 5 Financial Habits Practiced By The World's Richest People

By @nessdoctor on
Bill Gates At The Global Alliance for Vaccines And Immunisation (GAVI) Conference
Billionaire philanthropist Bill Gates attends a news conference at the Global Alliance for Vaccines and Immunisation (GAVI) conference in London June 13, 2011. Reuters/Paul Hackett

Forbes.com released its list of the world richest in 2014. The group of billionaires has grown to 1,645 with 268 newcomers. There are a number of familiar names in the list, who have been consistent in growing their business and managing their finances. Here are the top five billionaires of the world and how they handle their money.

1. Bill Gates ($82.3 billion)

In a report by CNBC.com, before Gates started Microsoft, he spent countless hours researching and working in his makeshift computer lab. His company continues to grow and reap in billions of dollars every year because of his innovations. Gates reinvests his money to research and improve his giant company so it continues to stay ahead of competitors. He is also known to do a lot of charity work through the Bill and Melinda Gates Foundation.

2. Carlos Slim Helu ($78.4 billion)

Helu was the richest man in the world in the past three years, mainly deriving income from his biggest business America Movil. Slim spent his huge earnings reinvesting his money and acquiring more companies in various industries to grow his conglomerate, all while delegating a huge portion of his gains to charity.

3. Warren Buffett ($72.2 billion)

The "Oracle of Omaha" has been very conservative in his spending habits since he started business as a child. In an infographic presented on MontyCampbell.com, Buffett is known to be frugal and not to indulge in a luxurious lifestyle. He saves and avoids buying expensive and unnecessary items. He also advises people to save, have zero debt and spend modestly.

4. Amancio Ortega ($58.9 billion)

The Spanish fashion executive maintains a very low profile. Despite being the owner of Zara, one of the biggest clothing brands in the world, he refuses to wear a tie and wears a simple uniform to work. He is a billionaire who visits the same coffee shop and eats at the company cafeteria on a daily basis.

5. Larry Ellison ($51.3 billion)

The CEO of Oracle Corporation may be what people refer to as the typical billionaire, spending some of his fortune on exotic cars and other luxurious items. He, however, invests in various ventures and purchases shares in tech companies, among others, to earn much more than he spends.

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