'I'm a billionaire - but I'm still wearing £29 Zara jeans'
09.06.2024 - 16:51
/ manchestereveningnews.co.uk
Despite living in the UK's most expensive home and owning a luxury yacht and vintage cars, one British billionaire says he hates splurging his money. He might be known for his his flashy wardrobe of glittery jackets, the 71-year-old says he prefers to shop on the high street for staples, with one pair of jeans costing him just £29 from Zara.
Caudwell's frugality may be a nod to his humble beginnings in Wellesley Street, Shelton, before moving to the Bentilee council estate. From there, he built a business empire and is now worth around £1.5 billion.
In an interview with the iPaper, the former Berry Hill High School student described himself as both 'flashy' and 'frugal'. He said: "Out of the public eye you won't see me in one of the glitzy jackets I'm known for. They're just for the charity dinners. At home I'll be in £29 Zara jeans and a shirt."
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The Phones 4U mogul also revealed his greatest extravagance was a £1.8 million helicopter he bought in 2009, along with his yacht named Titania. He said: "That sounds a lot, but when you're a billionaire it's not really. At the time I needed it to travel around the country quickly, but I don't need it anymore, so now it is an indulgence."
This lifestyle is a far cry from his first home on the outskirts of Stoke-on-Trent, which had no furniture or gas, reports Lancs Live.
John Caudwell, the billionaire founder of Phones4U, has emerged as a self-made man, starting from humble beginnings. He said: "We sat on orange boxes, borrowed a stove from my mother's caravan and cooked bean on toast on that until we eventually got out of the poverty trap. But I didn't see it as a struggle.