September 30th, 2010 by Rachel | Tags: American Culture, Anthropology, Corporation, Material Culture, Money | No Comments »
While there are billionaires and millionaires who enjoy being materialistic by owning yachts, a few mansions, Rolls-Royce, and diamonds, there are those who are consumption-conscious. An article featured a few consumption-conscious billionaires such as Warren Buffett, CEO of Berkshire Hathaway, and Carlos Slim Helu, the CEO of Telmex, Telcel and America Movil. While it may seem that they should take the opportunity to enjoy owning extra materials since they worked hard to earn a large sum, there is a benefit of not being materialistic, as it would allow CEO’s to focus more on the quality of their business as Melissa Hincha-Ownby, the writer, states in her article:
Maybe there is something to the “frugal” billionaire trend. Perhaps the fact that these individuals have not allowed the accumulation of “stuff” to clutter their lives has helped them build their fortunes. Instead of focusing on one-upping the Joneses with a bigger house and the newest Maybach, they instead focus on building their business and supporting philanthropic organizations.
Improving one’s business and supporting philanthropic organizations is truly more meaningful than consuming materials.
