With huge amounts of wealth at their disposal, billionaires can afford any clothing they want. So are they decked out in designer clothes every day?
Some billionaires do wear designer clothes, though this doesn’t mean their entire wardrobe is designer pieces or that they wear designer clothing every day. Many billionaires are known for their casual clothing choices.
While they can afford to wear designer pieces daily, many billionaires take a more simple approach to their clothing choices, though they do wear quality pieces that will last for several years.
Billionaires do occasionally wear designer brands
Some billionaires do wear designer brands. That doesn’t necessarily mean they wear them all the time but they certainly have designer pieces in their wardrobes.
For instance, Mark Zuckerberg is well known for wearing gray t-shirts every day. However, those t-shirts are custom-made by Brunello Cucinelli, an Italian luxury fashion brand, and are reported to cost somewhere between $300 to $400.
Jack Dorsey, CEO of Twitter and Square, is known for often wearing sneakers from designer brand Rick Owens. Brian Chesky, CEO of Airbnb, favors fashion brands such as Gucci, while Elon Musk has been known to wear high-end pieces from the likes of Alexander McQueen.
Avoiding decision fatigue
Several billionaires are known for wearing similar clothing each day. A uniform of sorts that becomes their signature style.
However, there is a reason behind this wardrobe choice. It’s a way to increase productivity and to avoid decision fatigue.
Decision fatigue refers to a deterioration in making good decisions after an extended period of decision-making. Simply put, the more decisions that have to be made in a day, the harder it will become to ensure good decisions are made.
Billionaires such as Mark Zuckerberg and John Paul DeJoria have particular clothing choices they stick to in order to limit the amount of time, energy, and decision-making required in what they will wear each day. This allows them to direct that time and energy to areas they feel are more important.
For instance, Zuckerberg’s signature wardrobe style is a gray t-shirt, jeans, and Nike footwear. John Paul DeJoria is known for wearing all-black outfits (a choice initially made to lower laundry costs but one he has retained to direct his focus elsewhere).
Simple doesn’t mean low quality
Many billionaires have become known for their simple wardrobes that often look quite casual in style. There’s nothing about the look that immediately exudes a sense of extreme wealth.
However, while their wardrobe pieces may look simple, that doesn’t mean they aren’t high quality. Billionaires may not necessarily wear high-end designer brands every day but the clothes they do wear are high quality and made to last.
After all, if they can buy certain pieces and not have to replace them for a long time, that’s one less thing to focus on.
Additionally, that doesn’t mean they won’t step up their style game if necessary. Important meetings or conferences may require smarter attire than standard day-to-day wardrobe choices.
Billionaires are more than capable of dressing appropriately for particular occasions. Most of the time, those occasions won’t require designer labels or extremely smart clothing choices, but rather casual to smart-casual wardrobe pieces that make them feel comfortable and allow them to focus on other priorities.
Billionaires versus celebrities
Take a look at celebrities on social media or at award ceremonies and you’ll more than likely find plenty of designer labels on show. If wealthy celebrities wear designer labels, surely billionaires must too?
However, what celebrities may wear on social media or to award ceremonies is a carefully crafted PR image, with designer labels often gifting clothing to celebrities in return for free advertising to a wide audience.
Sure, billionaires may be in the public eye at times, but their day is filled with running companies, making important decisions, and pursuing new business ventures. Fashion doesn’t play a large part in their day-to-day lives.
Nothing to prove
Many people will wear expensive designer clothes to project an image of wealth, even if they aren’t in fact wealthy. It’s different with billionaires though.
Everyone knows they’re extremely wealthy. They have nothing to prove in terms of displaying their wealth or convincing others of their net worth.
If designer clothing is a tool to project an image of wealth, it’s a tool that billionaires don’t need to make use of.
A money mindset
Wealthy individuals didn’t get to where they are financially by spending money on unnecessary purchases. Billionaires have a mindset focused on the best use of money and how to accumulate more of it – and spending large amounts of money on expensive designer clothing doesn’t fit either objective.
Many wealthy people don’t look rich, judging by the clothes they wear on a day-to-day basis. They live below their means and do things to help their money grow.
Could they afford designer clothing? Without a doubt; but the habits that got them to where they are now are often hard to break.
At the end of the day, why do they need to break them at all?