Sonnenfeldt: Extreme frugality among the ultra-wealthy suggests psychological issues
Michael Sonnenfeldt · Behind The Scenes Of The Billionaires' Mastermind (TIGER 21) | Michael Sonnenfeldt Interview · Jun 1, 2022 · at 19:18
Michael Sonnenfeldt, founder of TIGER 21, discusses extreme frugality by ultra-wealthy individuals such as Warren Buffett.
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“It's one thing to live within your means that's responsible. It's another thing to be so disconnected between your wealth and what you're living that That there's something going on inside, and you know, I'll leave it to the shrinks to figure it out, but it's kind of hard to understand why a person who might be working 6070, 80 hours a week, as if there's no tomorrow, and then they might be worth a certain amount of money, but they're living on 100th of it, as if they had a 100th less, you know, they had one percent of the wealth that they do.”
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