'My God, I Watch One Television In The Bedroom!' Frugal Billionaire Home Depot Co-Founder Still Calls The Cable Company If He Thinks His Bill Is Too High — But Insists He Is Not Cheap, Just Doesn't Want to 'Squander Money'

The Home Depot Inc. Co-Founder Ken Langone is a billionaire with a unique perspective on wealth and spending. Langone, whose net worth is $7.6 billion, grew up in a family where money was scarce but love was abundant. His parents, a plumber and a school cafeteria cook, provided for their family despite living paycheck to paycheck.

Despite his substantial wealth, Langone is known for his frugal habits. He scrutinizes his expenses meticulously, as evident in his questioning of a cable bill for his apartment, as he told CNBC "Make It" in 2018. 

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"It looked to me like a staggering amount of money and — it was a couple of hundred bucks — but I was just thinking, ‘My God, I watch one television in the bedroom,'" he said. "The point I'm making is it's not that I'm cheap, it's just that I want to make sure I don't squander money."

Langone’s approach to life combines success with simplicity. He enjoys simple pleasures like candy and diner coffee, saying, "I like candy — cheap candy. Jujyfruits. Good & Plenty. Nibs. Licorice Nibs,” and, "I'm not a Starbucks guy. … I'll go to a greasy spoon to get a cup of coffee." 

His favorite way to spend money is on pizza and movies. He is particularly fond of treating his wife, Elaine, to whom he has been married for over 60 years, and relishes the comfort of their home with amenities like a screening room.

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But Langone is not just about saving and simple living; he is also generous with his wealth. He joined The Giving Pledge, a commitment to donate half of his net worth, and has made significant contributions to various charitable causes, including medical centers and educational institutions.

Today, Langone’s frugality resonates more than ever in an era marked by rising inflation. His cautious approach to spending and emphasis on not squandering money aligns well with the current economic climate, where managing finances wisely is crucial for everyone, regardless of their wealth. Langone’s principles of careful expenditure and investment acumen are especially relevant as people navigate through uncertain financial times.

Langone’s financial prudence is not just about saving; it’s also about strategic investing. His foresight and entrepreneurial spirit were instrumental in cofounding Home Depot in 1978. The venture was a game-changer in the retail industry and showcased his ability to identify and capitalize on market opportunities. 

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