SHORT – What is considered car poor? What do billionaires drive?

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A listener writes to ask, “I just finished watching this Dave Ramsey YouTube video on cars. He says that you should not have a total car value of more than half of your household income. This seems crazy to me. For me, that would be a $75,000 car. Do you guys have a rule of thumb for how much you are willing to spend on a car?” We discuss.

We also list what several billionaires are driving and you’ll be surprised.

According to Bloomberg, Amazon CEO and founder Jeff Bezos own a 12% stake in Amazon worth about $115 billion. 2 years after the company went public he was still driving a 1996 Honda Accord. The MSRP in 1996 was $17,000

According to Forbes, Facebook and Asana co-founder Dustin Moskovitz have a net worth of $13.4 billion, according to Forbes. Despite his 3% stake in Facebook, Moskovitz stayed frugal. A 2011 profile of Moskovitz in The Seattle Times noted that he drove a Volkswagen R32 at the time. The MSRP for the R32 in 2008 was $32,000.

According to Reuters – Co-founder of Google Larry Page earned his spot as the 8th richest person in the world. Although he has an annual salary of just one dollar, his net worth is about $53.5 billion as of October 2018. Larry Page drives a Toyota Prius. 2019 base price: $23,770

According to CNN, Warren Buffett, the “Oracle of Omaha” is well-known for his frugal ways. The billionaire CEO of Berkshire Hathaway has pledged to donate 99% of his net worth of $84.2 billion in his lifetime. Buffet drives a 2014 Cadillac XTS. The MSRP for a new one was $23,500. Before his 2014 Caddy, he owned a 2006 Cadillac DTS.

According to CNBC, Alice Walton is one of the heirs to the Walmart fortune and is the second-wealthiest woman in the world. Instead of working for Walmart like her two brothers, Walton decided to curate art and reportedly has an art collection worth hundreds of millions of dollars. Walton spent part of her $51.6 billion net worth on her 2006 Ford F-150 King Ranch pickup truck, according to a 2008 Forbes article. The MSRP for the truck that year was $40,930.

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