Frugality in the Billionaire Class: A Lesson for the Ages The notion that wealth begets extravagance is a persistent myth.
It's a narrative perpetuated by Hollywood movies and reality TV shows, where the rich are portrayed as reckless spenders with no regard for their finances.
But some of the world's most successful billionaires don't buy into this script. Take Bill Ackman, founder of Pershing Square Capital, who has an estimated $8. 17 billion net worth.