Why a former multimillionaire athlete who became CEO only flies in the economy class?

UK football fans may be used to the idea of their favorite athletes traveling in private jets, wearing designer clothes and celebrating with champagne after great wins. But the former soccer player who became an entrepreneur Tom Beahon still saves every penny – although it is also co -founder of the premium brand of sports clothes Castorvalued at £ 950 million (US $ 1.29 billion).

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“I have never bought an expensive watch, I don’t spend a lot of money on clothes. I don’t flight in the business class … Even to Australia, I flew in the economy,” Beahon recently told Financial Times. “The concept of spending money just doesn’t make me happy.”

Beahon was a professional youthful soccer player, starting to play for Tremmere Rovers at the end of his teens, then joined the Spanish club Jerez Industrial CF. But his sports career ended at the beginning of the age of 20, when he and his brother Philip left the sport to work in finance in London to raise capital for a sportswear business. Tom entered Lloyds Bank while Philip worked at Deloitte – and in 2015, Castore was in operation. But the money was too short.

In the first three years, co-founders and co-ceos paid themselves £ 1,000 ($ 1,355) a month to preserve money for the business. Tom said he returned to live with his parents, while Philip’s future wife paid his rent. The former player recalled that they were “hard times financially,” but even after his sportswear company reached an assessment close to £ 1 billion in 2023, his simple habits did not change. In fact, he leads a discreet life for fear of getting to the bottom of the well for spending too much-without a security network to support him.

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“I went through a time when I thought ‘I should do something cool’, but I was always saver than speaker,” said Beahon. “I don’t know if it’s because of my origin or because I lived those three years when I was constantly afraid of running out of money.”

“This fear never leaves you. It is deeply marked in my soul – that daily focus on money, that paranoia.”

Economy with oneself, pampering for parents

Beahon may not spend on silk pajamas and caviar for himself – but he likes to spend on his parents. He said he likes to buy vacation packages and business class tickets for them because they are in the phase of “enjoying life.” Meanwhile, Beahon believes he is still in the “construction phase” with long hours of work, so vacation are not in his plans.

Also, he said it is good to be able to pamper parents, who never had a chance to enjoy these luxuries. Beahon grew in the working class, living in northern England with little money. His family didn’t travel on vacation, and he knew other people had more than him. This is another reason why he is so economic today – and this perspective accompanies him in the lead of his highly lucrative business of sportswear.

“When we started Castore, I remember finding other entrepreneurs and thinking, ‘there are very few people like us,” said Beahon. “Everyone had a security network – parents had money left and, if it didn’t work, they would do something else and everything would be fine. I didn’t feel that.”

Unlike some founders who were born in a golden cradle, Beahon’s family was not “£ 40,000 left.” With a teacher teacher and a construction worker, Beahon recalled that her parents made a “great sacrifice” by offering mortgage to borrow to launch the Castore. These difficult circumstances 10 years ago seem very far from the success that their brand brings today-but their change to entrepreneurship was about financial stability, not ultra-range.

“More than wanting to earn a certain amount of money, I was moved by the feeling of security. My father was always nervous about the possibility of being fired, and that affected the family,” he said. “Being successful to the point of having security has always been the goal.”

Other millionaires also save

Beahon is not the only one to save on vacation and expensive clothes, despite the financial success. The billionaire Lucy Guo still buys at Shein and goes to work from Honda Civic.

Series investor Mark Cuban did not take a vacation in the first seven years of his microsolutations technology company. He said that at the time he was “broken to damn”, living in a three -bedroom apartment with five roommates, often sleeping on the floor. While his friends went on weekends, he was dedicated to the growth of business for fear that everything “went downhill.” Then he sold Microsolments to H&R Block for $ 6 million.

Actress Keke Palmer was a millionaire at age 12 – but, like Beahon, her humble creation guided the way she deals with money to this day. In the first 15 years of career, all their trips went to work. And she still lives below her possessions; Palmer said that even with $ 1 million in his pocket, would rent a place of $ 1,500 and an affordable car – without a Bentley need. She learned to save money on her parents, who did what she could.

“I learned from my parents very early because they knew their limitations with money and finance,” Palmer told CNBC Make It earlier this year. “I believe in saving and being frugal … I don’t play with it.”

David’s Bridal CEO Kelly Cook can lead one of the largest wedding dress nets in the country, but her initial career was quite different. Years ago, she barely turned, reconciling bartender work on weekends, university courses and taking care of her young son. Cook said he lived from beans and corn bread to stretch the money, with a net salary of $ 882 as a solo mother, barely covering the rent and the portion of the car. Now, at 58, she runs a giant sector with 200 stores in the US and Canada, leading about 5,000 employees.

This article was originally published by Fortune.com