Billionaires Rhimes and Buffett Prove Wealth and Frugality Can Coexist

Shonda Rhimes and Warren Buffett, two figures at the pinnacle of their respective industries, share an unconventional yet telling spending habit: both continue to use coupons despite a combined net worth exceeding $149.2 billion. This practice underscores their commitment to frugality, a philosophy that transcends their financial success and reflects a broader mindset of intentional spending and long-term value.

Rhimes, a television industry titan known for creating hit series like Grey's Anatomy and How to Get Away with Murder, has amassed a fortune estimated at $240 million. Despite her status as one of Hollywood's highest-paid showrunners, she maintains a frugal lifestyle, including clipping coupons and prioritizing savings over luxury. In a 2025 interview on the Call Her Daddy podcast, Rhimes emphasized that her core values remain unchanged: "I'm still the person clipping coupons, and thinking 'Maybe I should get that on sale,' and, 'Maybe I shouldn't get too comfortable like with these shows.'" Her approach aligns with a broader trend among high-net-worth individuals who reject ostentatious spending in favor of financial discipline.

Warren Buffett, the 95-year-old CEO of Berkshire Hathaway and the 11th richest person globally, embodies similar habits. With a net worth of $149 billion, Buffett lives in the same Omaha home he purchased in 1958 for $31,500 and drives modest vehicles, including a 2014 Cadillac XTS. He is a frequent patron of McDonald's, often using coupons to cover meals costing under $4. His philosophy, articulated in a 2014 Berkshire Hathaway shareholder meeting, rejects the notion that wealth equates to extravagant living: "My life would not be happier...it'd be worse if I had six or eight houses or a whole bunch of different things I could have." Buffett's frugality extends to his investment strategy, where he prioritizes long-term value over short-term gains.

The parallel between Rhimes and Buffett highlights a strategic mindset that values financial prudence over status symbols. Both have leveraged their success to build enduring legacies while maintaining personal spending habits rooted in simplicity. For Rhimes, this includes forgoing vacations for the first 15 years of her career and opting for a Lexus over a luxury SUV. For Buffett, it means avoiding credit cards, living in a single home, and eschewing private jets for practical transportation. Their choices reflect a belief that true wealth lies in financial independence and the ability to allocate resources meaningfully.

This approach contrasts sharply with the spending patterns of many of their peers. While billionaires like Jeff Bezos and Mukesh Ambani invest heavily in sprawling estates and private jets, Buffett and Rhimes demonstrate that wealth need not dictate lifestyle inflation. Their habits also align with broader financial advice, such as Warren Buffett's famous adage: "Do not save what is left after spending; instead, spend what is left after saving." Both figures emphasize the importance of living below one's means, a strategy that allows for greater investment in long-term goals and philanthropy.