Billionaires Warren Buffett and Ingvar Kamprad, the founder of IKEA, live in old houses, drive old cars, and lead a thrifty life. They have been selected by the American magazine Forbes as "frugal billionaires". Other "frugal billionaires" include Premji, the founder of the tech giant Wipro, known as the "Gates of India", and Jim, the youngest son of the founder of Walmart. Judging from Premji's Toyota Corolla, Jim's small truck, and Buffett's Cadillac DTS, all the selected individuals share one common point: "wealthy but not luxurious", and "do not drive fancy cars".