Ken Fisher, a billionaire investor with a net worth of at least $11 billion, continues to drive a 25-year-old Volvo, emphasizing his commitment to frugality. At 73 years old, Fisher is the founder of Fisher Investments, a firm that manages over £200 billion in assets. Despite facing backlash in 2019 for crude comments, he has maintained his wealth and influence in the investment world. Fisher plans to limit the inheritance for his three children, believing that hard work has therapeutic value and that wealth should not be handed down without purpose.
Fisher's investment philosophy is deeply influenced by his father, Philip Fisher, a legendary figure in DIY investing. His book 'Super Stocks' became a bestseller in the 1980s, and he has made significant investments in major companies like Apple and Nvidia. Throughout his career, Fisher has gone to cash three times, showcasing his strategic approach to market fluctuations. He believes in the potential of the American economy, contrasting it with what he sees as stagnation in Britain.
In addition to his investment strategies, Fisher is critical of both major US political parties, expressing concerns about their impact on economic growth. He supports investments in fossil fuel stocks and major credit card companies, reflecting his belief in their long-term viability. Fisher has also stated his intention to give away most of his wealth within the next 20 years, aligning with a growing trend among wealthy individuals to engage in philanthropy and social responsibility. His approach combines a focus on financial success with a commitment to making a positive impact on society.