Each of us seeks to earn money to live a better life, to buy a luxury house, a luxury car and live in luxury, therefore, the pursuit of wealth is a strategic goal for most people, if not all.
However, building wealth is not an easy matter. It requires patience, perseverance, sacrifice, and planning, and thus a lot of pressure on people who struggle to enter the club of the rich.
So it is natural for wealth creators to seek to reward themselves through shopping, for example, or buying luxury products.
The idea of building wealth and collecting money just for the sake of collecting money is an idea that many people may not like.
There are many celebrities around the world who are classified as millionaires or even billionaires, but they live like poor people, at least compared to the amount of wealth they have.
Although these people have accumulated their wealth from different sources, including businessmen, artists, and other fields, they have one thing in common: they live at a standard that is not appropriate for them, given the size of their wealth.
- Reasons why the rich don't spend their wealth:
- Ethics is what makes the rich allocate most of what they own to help the poor.
- The rich were poor, and some of the rich were originally poor, so they used to buy simple clothes and ordinary, non-luxury products and got used to that.
- Greed, as these people seek to reinvest every penny they earn.
- Poor but rich:
examples of people we are talking about are:
- Warren Buffett: It is natural to start talking about the billionaire, one of the richest people in the world and the godfather of the stock market, whose fortune has so far reached 132 billion dollars. Although he can buy whatever he wants, he does not live in a luxurious palace, but in a normal, old house in a middle-class area, and he owns a very modest 2014 sedan.
- Amancio Ortega: Spanish businessman who founded the Zara, Bershka, Stradivarius, OYSHO, Pull & Bear and Massimo Dutti chains of stores, this man was able to sell clothes to all of Europe, and even to most countries of the world. Through his work, he succeeded in building a fortune that reached 106 billion dollars, he bought a private jet for $65 million out of necessity for business trips, lives with his wife in an apartment he owns in Spain, and drinks coffee with his employees in Zara stores.
- Keanu Reeves: We can't talk about the rich without talking about a modest Hollywood major who got $250 million for his three Matrix movies, in addition to millions for other movies he starred in. Although he owns a house in Hollywood, two luxury cars, and a number of motorcycles that he was obsessed with, he uses public transportation and spends his time in parks. He is not a fan of fancy clothes, and he donated millions of dollars to the crew of his movies.
- Jim Walton: He follows a modest lifestyle and founded Walmart, the largest wholesale and retail company. His team describes him as a workaholic who comes first and leaves last.
- Christian Bale: The hero of the Batman series, is a hero in real life. After becoming famous, he continued to live in a one-room apartment with the rest of his family for a while. What distinguishes him is his huge donations to help people, not himself. In 2016, he paid all his fees for the movie The Promise to the victims of genocide, and he donates regularly to charitable institutions.
The list is long and does not include mentioning all the rich who prefer to live as poor people. The names mentioned are just examples. Each of us has his own point of view on the subject. It cannot be said that anyone is wrong. Each of us has his own strategy in managing financial resources, between reinvesting them or spending a lot of money on buying luxury products to feel accomplished. Enough is too much.