A reader of this blog (PyroGuy), who has become an occasional contributer, posted this link in his first article. I thought I would expand upon it this morning:
What do the Billionaires Drive?
The cars and trucks driven by those in the Top 10 of the 2005 Forbes list was, in short, shocking. You won’t find a Bugatti, Ferrari or BMW driven by these billionaires. But you will find a Lincoln, a Mazda, even a Dodge and Ford. It seems that for the super-rich, a vehicle is seen not as a status symbol, but as a means to an end in which to get from point A to point B. Status is something that these billionaires need not prove to others. In many cases, the people on our list prefer to live inconspicuously, avoiding the limelight at all costs. This might explain why many of their vehicles cost less than your own daily driver.
Forbes compiled the list, by obtaining motor vehicle registration records from each billionaire’s respective state. For those not residing in the U.S., they relied on interviews with company representatives or past interviews with the billionaires themselves.
Rank on Forbes.com 2005 World’s Billionaires List: 1
Net Worth: $46.5 billion
Vehicles Owned: 1999 Porsche 911 Convertible (pictured above); 1988 Porsche 959 Coupe
Source: State of Washington Department of Licensing
Rank on Forbes.com 2005 World’s Billionaires List: 2
Net Worth: $44 billion
Vehicles Owned: 2001 Lincoln Town Car Signature Series
Source: Nebraska Department of Motor Vehicles
His license plate reads: THRIFTY
You can read more by clicking here
The point as is has been said through out this blog is to avoid borrowing. Instead of borrowing, save the money into a savings account and drive your vehicle into the ground and then go out and buy another one with cash. Don't buy a new car. Buy a 2-year old vehicle and let someone else take the depressiation bath.
1 comments:
This is an excellent representation of how frugal some extremely wealthy people are. It doesn't show, however the many far less wealthy people who are leveraged to the hilt and drive something much flashier, like a new Porsche, Ferarri, or Lambo. For many years, Gates drove the same Lexus LS400. I've known many very wealthy people, and many have been quite cheap. Even when they spent money, they wanted to be sure it was justified and could provide them with a good return.
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