- Mitzi Perdue, the double-heiress of Sheraton inns and Perdue farms, grew up carrying hand-me-downs and getting a public schooling. She’s fast to attract her pursestrings by flying economic system, driving the subway, and residing in a modest residence—regardless of sitting on a fortune from two billion-dollar American companies. The 84-year-old journalist and philanthropist says it helps her perceive “the real world.”
The considered a billionaire’s life-style could conjure up photographs of Nice Gatsby mansion-buying and jet-setting on the drop of a hat. However the lifetime of an heiress with the wealth of two billion-dollar American companies seems rather a lot totally different.
Mitzi Perdue was born into the Sheraton lodge household, and at simply the age of 26, she and her siblings inherited their father Ernest Henderson’s controlling stake of the enterprise. The success of her household’s $12.2 billion hospitality firm meant she was now sitting on a substantial nest egg.
Her fortune would solely swell after marrying her late husband Frank Perdue, the “chicken king” who led America’s largest chicken-producer, Perdue Farms, which introduced in over $10 billion in income final yr. The double-heiress has the riches to retire and dwell a lifetime of extravagance—but it surely’s in her nature to take a look at wealth in another way.
“The Hendersons and the Perdues did not encourage extravagance,” Perdue tells Fortune. “In both families, nobody wins points for wearing designer clothes.”
The 84-year-old has entry to a belief from her household’s billion-dollar enterprise, alongside the wealth from the Perdue empire. But she nonetheless lives similar to anyone else: taking her footwear to the cobbler as an alternative of shopping for new ones, driving the subway, flying economic system, and residing in a modest residence as an alternative of a home.
Perdue has lived a double life—getting access to immense privilege and cash from two enterprise empires, whereas holding down a daily job and residing frugally.
“My apartment building I lived in for 14 years is very solidly middle-class, and I love it,” Perdue says. “If you’re always going on private jets, what inkling do you have about the real world?”
Her frugal and down-to-earth life-style: carrying second-hand garments, flying economic system, driving subways
Perdue was born in 1941, and as a warfare child and fifth baby of the Hendersons household, she grew up carrying hand-me-downs. She says she went to public faculty for a interval of her life, later enrolling in non-public faculty and pursuing a Harvard schooling. When she was in her late 20’s her father died, opening up the floodgates of her inheritance. However she wasn’t enticed by the concept of dropping out and lounging for the remainder of her life.
“I could have just put everything in the stock market and let somebody else manage it,” Perdue says.
Enthusiastic about agriculture, Perdue quickly purchased land close to the College of California, Davis so the faculty may run experiments on the agricultural space. She spent many hours a day managing the rice farm, however years later determined to turn out to be a journalist masking farming practices and psychological well being.
Beginning in 2022, she started masking the battle in Ukraine and offered her $1.2 million engagement ring from her late husband to learn humanitarian efforts within the war-torn area. She’s at present engaged on growing an AI trauma therapist for victims in Ukraine, which has lacked the sources to maintain up with demand. For all of her work journeys, she at all times flies economic system.
Perdue has additionally lived in an residence constructing in Salisbury, Maryland, for a few years, rubbing shoulders with working-class residents like nurses and law enforcement officials. She says one yr’s hire in her one-bedroom flat prices simply as a lot as what her New York Metropolis buddies pay in a single month.
“Several Perdue employees live in the same building,” Perdue says. “It’s nice, but no one would call it posh.”
And as a self-proclaimed “low-maintenance badass” regularly visiting New York Metropolis, she rides the subway as an alternative of reserving Ubers. Perdue additionally will get her footwear reupholstered, relatively than shopping for new pairs; and designer outfits are shrugged off, as she doesn’t like flashing her wealth. Her frugal philosophy is extra than simply skin-deep.
“I’m unaware of getting praise for wearing really expensive clothes—you get praised like heck for being an Eagle Scout, or working for Habitat for Humanity,” Perdue continues. “You get praise for serving others.”
What Perdue will get from tightening her pursestrings
Individuals who haven’t grown up with wealth could query why a billionaire would need to dwell life like the remainder of the inhabitants: working 9-to-5, sardining on subways as an alternative of calling non-public vehicles. The heiress and journalist says her reasoning stems from the vacancy of taking, and the enjoyment of giving.
“I’d sure rather have a life of a feast of unending joy versus not being able to count five happy days,” Perdue says. “If you want to be happy, think what you can do for somebody else. If you want to be miserable, think what’s owed to you.”
Mega-yachts and silk pajamas don’t fill the void for Perdue—relatively, philanthropy and onerous work make her really feel full. An enormous a part of Perdue’s understanding of getting wealth versus residing a rich life got here from either side of her household. She famous that household companies which can be capable of final 100 years are a rarity, however the Hendersons and Perdues have been capable of make it by placing their finest foot ahead.
“The families that last learn stewardship,” Perdue stated. “They’re not there to go spend it all. They’re there to be stewards for the next generation.”
This story was initially featured on Fortune.com
