Billionaire Heiress Mitzi Perdue Lives Modestly Despite $22 Billion Fortune

Mitzi Perdue, the heiress to both the $10 billion Perdue Farms and the $12 billion Sheraton hotel empire, has a lifestyle that defies the typical billionaire stereotype. Born into the Sheraton hotel family, Perdue inherited her father Ernest Henderson’s controlling stake in the business at the age of 26. Her fortune grew further when she married Frank Perdue, the “chicken king” and founder of Perdue Farms. Despite her immense wealth, Perdue chooses to live a modest life, wearing hand-me-downs, riding the subway, and flying economy.

Perdue’s frugal lifestyle is a reflection of her upbringing. Born in 1941, she grew up wearing hand-me-downs and attending public school before enrolling in private school and later pursuing a Harvard education. Her father’s death in her late 20s opened the floodgates to her inheritance, but she chose not to retire and instead continued to work. She bought land near the University of California, Davis for agricultural experiments and later became a journalist covering farming practices and mental health. In 2022, she began covering the conflict in Ukraine and sold her $1.2 million engagement ring to benefit humanitarian efforts in the war-torn region. She is currently developing an AI trauma therapist for victims in Ukraine, always flying economy for her work trips.

Perdue’s modest lifestyle extends to her living arrangements. She has lived in an apartment building in Salisbury, Maryland, for many years, rubbing shoulders with working-class residents. She says that one year’s rent in her one-bedroom flat costs as much as what her New York City friends pay in one month. She rides the subway instead of booking private cars and gets her shoes reupholstered rather than buying new pairs. Her philosophy is that praise comes from serving others, not from wearing expensive clothes.

Perdue’s reasoning for living a modest life stems from her belief in the joy of giving and the emptiness of taking. She says that mega-yachts and silk pajamas don’t fill the void for her—rather, philanthropy and hard work make her feel full. She believes that family businesses that last 100 years are a rarity, but the Hendersons and Perdues were able to make it by putting their best foot forward and being stewards for the next generation. Her frugal and down-to-earth lifestyle is a testament to her belief in the value of hard work and giving back to society.