7 billionaires who live incredibly modest lives

For many people, a frugal life is based on necessity. If you don't have a lot of money to spend, budget accordingly and make the most of the money you have available.

Thrift can, however, extend behind the working class. Some of the richest men in the world are incredibly frugal, despite being worth billions and even tens of billions of dollars.

For these entrepreneurs, they find no need to flaunt their immense wealth.

While they have their own indulgences, they are also careful to keep a close eye on their own spending habits and even the spending habits of their employees.

From driving used vehicles to living in the same house they bought before they became incredibly rich, these 7 billionaires live incredibly frugal lifestyles.

For the purpose of this list, only businessmen with at least $10 billion in personal wealth were selected.

Warren Buffet still lives in the same house he bought in 1958 for $31,500.

Warren Buffet is worth an estimated $60.7 billion, but the Oracle of Omaha still lives in the same house he bought in 1958.

This incredibly smart businessman also does not carry a cell phone and refuses to have a computer at his desk.

His license plate even says “TRIFTY”.

Buffett is known for eating such “high end” foods as Burger King and Dairy Queen, and his drink of choice for years has been Coca-Cola.

Mark Zuckerberg drives a Volkswagen hatchback and bought a modest house.

With $42.8 billion at his disposal, Facebook CEO Mark Zuckerberg could have bought a massive home in Palo Alto, California. Instead, he and wife Priscilla Chan spent a rather modest (for the area) $7 million on their house.

Zuckerberg also wears the same jeans, t-shirts and hoodies to work on a daily basis. A process he says helps him focus on connecting Facebook to the entire world, while ignoring decisions he doesn't find necessary to make on a daily basis.

In 2014, he traded in his $30,000 Acura for a manual transmission Volkswagen hatchback that he drives to Facebook headquarters.

Carlos Slim has lived in the same six-bedroom house for more than four decades.

Carlos Slim is the richest legitimate businessman in Mexico with a net worth of $23.5 billion.

Despite his massive holdings, he reportedly drives the same Mercedes-Benz he has owned for many years.

Slim is known to say that his fortune is like an orchard and “what you have to do is grow it, reinvest it to make it bigger or diversify into other areas.”

Instead of eating out at expensive restaurants every day, Slim enjoys sharing home-cooked meals with his children and grandchildren.

Slim buys a lot of art, which he does in honor of his late wife. He also has an $80 million apartment in New York that he put up for sale in 2015.

Charlie Ergen still browns his lunch to Dish Network every day.

Dish Network's founder and CEO is worth $14.5 billion, but he still browns his lunch every day.

Charlie Ergen is a notoriously frugal business executive who says he learned frugality from a mother who grew up during the Great Depression.

The self-made billionaire packs a sandwich and Gatorade lunch before work every day.

Until recently, he shared hotel rooms with employees when on business trips.

Amancio Ortega eats with his employees in the company cafeteria.

Amancio Ortega, founder of Inditex, lunches with his employees in Zara's headquarters cafeteria, despite his enormous fortune, last estimated to be worth $66.8 billion.

He lives in a quiet apartment in La Coruña, Spain, with his wife, and they often visit their favorite coffee shops instead of expensive meals in elegant restaurants.

Ortega, despite running the world's largest fast fashion company, wears a uniform of a blue blazer, white shirt and gray pants every day.

He owns a $45 million jet, but we all have our own vices.

Ingvar Kamprad still flies economy and takes the bus even though he owns Ikea.

Kamprad is worth $39.3 billion but that doesn't mean he spends like that. He still enjoys taking the city bus to work and around town, and when he flies, he takes economy class.

Kamprad is the second richest man in Europe, but he still drives a decades-old Volvo when he's not taking the bus.

Azim Premji chooses to drive used cars and makes sure that the lights in his office are turned off at the end of the day.

Premji is worth $16.5 billion but that hasn't stopped the Wipro Limited chairman from making sure his employees turn off the lights at the end of a workday.

He also keeps track of toilet paper usage at his corporate headquarters, which is going a little too far if you ask us.

Sometimes when he returns home from an airport, he will catch a three-wheeler auto rickshaw to save money.