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Comment by MichaelApproved | Hacker News Reader

"I know a billionaire that drove an old Honda until recently, for example."

Who knows if this is even true but I can believe there are a few millionaires who drive older cars. What I don't understand is why they would do this since newer cars are much safer with advanced safety systems.

It doesn't have to be a flashy new car either, a new Ford or Handa would have so many safety advantages over an older car.

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You should read "The Millionaire Next Door." (http://www.thomasjstanley.com/pub-books/1/The_Millionaire_Ne...) There is whole chapter on why you don't buy new cars. Mostly because they lose a ton of value as soon as you drive them off the lot.

Most millionaires in the US drive American-made cars that are 2 - 5 years old.

EDIT: It's actually not "most millionaires" -- only 20%: http://www.thomasjstanley.com/blog-articles/395/Millionaire_...

2-5 years makes sense. I can see sticking to that schedule but anything older an you're probably losing out on new advancements in safety.

Here you see Ingvar Kamprad driving an old Volvo, Ballmer driving a Fusion, and Ellison with a McLaren, Zuck with an Acura, Eric Schmidt in a Prius.

http://www.digitaltrends.com/cars/drivestyles-of-the-rich-an...

those points may be true but mclarens are not cheap and ellison has a lot of cars and has bought a lot of cars for a lot of women

You do understand how PR works right? Facts are interpreted in ways to make the person look better. I very much doubt that any of these people have just 1 car.

Fair point. I should have mentioned that some (most) of those listed have more than one car --but from what I coud find (in other lists), the cars listed seemed to be representative of their other cars. Ellison has other rare cars, Ballmer another pedestrian car and so on. DiCaprio seems to buy anything with some ZEV cachet, but he's been consistent since the EV-1's, I think.

I mean, basically some people feel they need to be flash, others find their cars to be more utilitarian.

I have nothing against people doing whatever they want with their hard earned cash, but: >Schmidt + SB + LP have 8 private jets. >Elon Musk went around PA in a McLaren F1. >Well known Valley VCs keep throwing ostentatious parties and spending thousands of dollars each night in clubs from San Francisco to Ibiza.

I don't buy Arrington's views, specially when this man hasn't been to other "rich" parts of the world (e.g. Switzerland, Germany, northern Italy, Sweden, Norway, etc.) and categorizes "the world" as his narrow geographical observations.

Some people fetishize scrimping. You see it a lot on HN actually.

It's a Warren Buffet thing.

Ehhh. He's kinda stretching it with that Gulfstream.

*fleet/airline

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