Frugal Millionaires...

The Foundation to Wealth

Who are the Frugal Millionaires?

Many of us consider millionaires living in mansions, flying in private jets, and having all the luxuries the rich can afford- but with certain Millionaires, some that are "self-made," there is quite a different story...

Let's take a look at Canadian, David Cheriton, with a net worth over $1 billion...

After getting rejected by the University of Alberta's music program, Cheriton earned a PhD in computer science from the University of Waterloo and co-founded a computing company. Through an early investment in Google, he became a billionaire. Later after reaching his wealth, he gave $25 million to the University of Waterloo's computer school.

To read about David Cheriton, click here for an article written by Canadian Business Online.

Take Warren Buffett, the second richest man in the world, with a net worth of $37 Billion in 2009.

He's been called, "The Billionaire Next Door..." living a modest life and paying himself one hundred thousand per year.

Today he lives in his modest Nebraska home he bought for $31,500. He drove a Lincoln town car for six years and traded it in for a 2006 Cadillac DTS.

Warren Buffett has also become philanthropic- being the largest contributor to the Bill and Melinda Gates Foundation. Over the course of time, it is expected he will give the majority of his fortune to this philanthropic cause.

To read more, click here. There are numerous articles written about Buffett, but what is inspiring about the frugal lifestyle is this...

Not only can you build wealth, you can give to others in a powerful and impactful way.

Here is another link that shows how frugal millionaires, or should I say, "billionaires" start out. It's a brief biography of Warren Buffett, yet reveals many intimate details of his life.

Come back soon to read more about other millionaires we will feature at Frugal Footsteps!