The heiress of $10 billion Perdue Farms and the $12 billion Sheraton Hotels empire wore hand-me-downs, still rides the subway, and flies economy

Mitzi Perdue, heir to the $12.2 billion Sheraton Hotel empire and $10 billion Perdue Farms, defies the stereotypical image of a billionaire. Despite her immense wealth, she lives a frugal lifestyle, taking advice from her family's ethic of humility and stewardship of resources. Perdue, born in 1941, grew up wearing hand-me-downs and attending public school.

After inheriting her father's controlling stake in Sheraton at 26, her fortune grew even more after marrying Frank Perdue, the "chicken king." Yet, she continues to reside in a modest apartment, fly economy, and take the subway, instead of opting for private jets and luxury accommodations. Her frugality extends to personal purchases, such as repairing her shoes instead of buying new ones.

Perdue's approach to wealth is driven by a desire to be a benefactor and make a difference in the world rather than simply amassing material possessions. She has used her inheritance to invest in agriculture and journalism, and even began covering the conflict in Ukraine, donating her $1.2 million engagement ring to humanitarian efforts.

Her philosophy is that true happiness comes from giving rather than receiving, and that families that have lasted a century do so by being responsible stewards of their resources.