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10 Extremely Wealthy Tech Executives Who Choose To Live Frugally

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Pierre Omidyar

REUTERS/Tim Shaffer

EBay founder and chairman Pierre Omidyar in Delaware on Dec. 7, 2009.

While some tech executives are quick to splurge on yachts and mega-mansions, others aren't so flashy with their riches.

Mark Zuckerberg, for example, drives a $30,000 Volkswagen GTI, while Sergey Brin likes to buy things in bulk at Costco.

We've rounded up 10 tech executives who have made millions or even billions with their companies yet have chosen lives of frugality and charity.

David Cheriton, Stanford professor

Net worth: $3 billion

Cheriton, a professor at Stanford and cofounder of Arista Networks, became one of the first investors in Google after Larry Page and Sergey Brin did a demo of their project on his front porch in 1998. That initial $100,000 check has obviously paid off, but Cheriton dislikes the thought of being a billionaire.

"I'm actually quite offended by that sort of thing," he told the Edmonton Journal in a 2006 interview. "These people who build houses with 13 bathrooms and so on, there's something wrong with them."

He drives a 1986 Volkswagen Vanagon, has lived in the same Palo Alto home for the past 30 years, cuts his own hair, and even claims to reuse his tea bags. He did, however, splurge on a Honda Odyssey for his kids back in 2012.



Charlie Ergen, chairman of Dish Network

Net worth: $16.3 billion

Ergen is notorious for being a frugal leader and micromanager — up until about 10 years ago, he insisted on signing every check that came out of Dish. 

He packs a lunch of a sandwich and Gatorade before work every day, and until recently, he shared hotel rooms with colleagues during travel.

"My mom grew up in the Depression," he told the Financial Times. "I don’t have a mahogany desk."



Pierre Omidyar, founder and chairman of eBay

Net worth: $8.1 billion

Omidyar became a billionaire when eBay went public in 1998, but he never thought spending all of his money would be satisfying. 

"We sort of skipped the 'regular rich' and we went straight to 'ridiculous rich,'" he said to Forbes. "I had the notion that, OK, so now we have all of this wealth, we could buy not only one expensive car, we could buy all of them. As soon as you realize that you could buy all of them, then none of them are particularly interesting or satisfying."



See the rest of the story at Business Insider







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