Do rich people buy cheaper?

I study a high net worth chamber and there it is a recurring theme that the very rich are often very cheap and save money on every trivial thing. The billionaire MLK for example said he has been wearing the same outfit for the last ten years.<br><br>I can't imagine Bezos arriving at a grocery store with coupons or something like that lmao. I just can't imagine a billionaire buying the cheap brand chicken breasts for example.