Kevin O’Leary is worth $400 million, yet he still shops at Walmart for $29 jeans; here’s what the Shark Tank star has in common with $144 billion Warren Buffett

Kevin O’Leary has an estimated net worth of $400 million, multimillion-dollar homes and more money than he could realistically spend in a lifetime. Yet the Shark Tank investor still heads to Walmart for everyday essentials—and proudly hunts for bargains while he is there. His approach has something in common with another famously wealthy businessman: Warren Buffett, whose fortune is estimated at around $144 billion.

O’Leary recently shared a Walmart shopping trip on Instagram, revealing that he was there to pick up basics such as batteries, butter, paper towels and OxiClean laundry spray. But even with hundreds of millions of dollars to his name, he said he was still focused on getting the best value.

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“I'm always looking for a great deal, that's why I'm in Walmart,” O'Leary said. “You know those fantastic black jeans I'm always wearing? That's right—Walmart special, 29 smackaroos. That's how you save dough.”

Kevin O’Leary's similarities with Warren Buffett

The comparison with Buffett is particularly interesting. While O’Leary is happy to show off his $29 Walmart jeans, Buffett has spent decades demonstrating that extraordinary wealth does not necessarily translate into extravagant everyday spending. The former Berkshire Hathaway chairman still lives in the Omaha home he bought in 1958 for $31,500 and has long been known for his modest habits.

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Buffett has also famously maintained a simple McDonald's routine. According to a 2017 HBO documentary, his breakfast spending could change depending on how the stock market was performing. When markets were down, he opted for a cheaper meal; when they were doing well, he was willing to spend a little more.

Kevin O’Leary went to Walmart for household essentials

O’Leary said his wife had sent him to Walmart to pick up several household necessities, including batteries, butter, paper towels and OxiClean laundry spray.

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But once inside the store, his attention quickly turned to finding value. “I want to save dough when it comes to paper towels. Check it out. Bounty—12+ rolls is like 18 small rolls—I'm going plus,” he said with a smirk.

For O’Leary, the point isn't necessarily that he cannot afford the more expensive option. It is that spending more simply because you can doesn't make financial sense.

Why does a $400 million man still care about saving money?

O’Leary owns multimillion-dollar properties in Florida, Massachusetts and Toronto, but he has repeatedly talked about his preference for getting value for his money. His attitude comes down to one simple idea: don't waste money just because you have it.

“I hate wasting money,” O'Leary told CNBC in 2021 after another Walmart shopping trip attracted attention. “I just don't get why you would do that. It's so hard to make it in the first place.”

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That mindset has become part of O’Leary's public persona. Whether he is discussing investing, business or shopping, he frequently emphasizes the importance of understanding where money goes.

Ikea founder Ingvar Kamprad also embraced bargains

The late Ikea founder Ingvar Kamprad was another famous example of extreme frugality. Despite accumulating a fortune estimated at tens of billions of dollars, Kamprad was known for buying secondhand clothing and driving an old Volvo.

“I don't think I'm wearing anything that wasn't bought at a flea market,” Kamprad said in a 2016 documentary on Sweden's TV4. “I want to set a good example.”

Kamprad continued working at Ikea until he was 87. He died in 2018 at the age of 91.

Scale AI cofounder Lucy Guo takes frugality even further

A younger member of the ultrawealthy business world, Scale AI cofounder Lucy Guo, has also spoken openly about keeping her spending low despite her growing fortune.

Guo has described herself as part of the FIRE—financial independence, retire early—movement. Her approach has included buying heavily discounted clothing, skateboarding to work and seeking ways to maximize perks.

“Everything I wear is free or from Shein…Some of them aren't going to be that great quality, but there's always like two pieces or so that really work out, and I just wear them every day,” Guo previously told Fortune.

She has also said: “I still literally buy buy-one, get-one-free on Uber Eats.”