Ed Sheeran is the unlikely man of the moment. The 30-year-old Brit went from choir boy to international superstar seemingly overnight. Having sold more than 150 million albums worldwide, Sheeran is the most streamed British artist on Spotify, where he has a whopping 80.83 million followers. With all this success and stardom, Sheeran has naturally become exceedingly rich. But despite having millions of dollars at his disposal, the singer leads an extremely frugal lifestyle.
Frugality is somewhat of an anomaly among the super rich, with ridiculous purchases being the norm once stars make it big. Evidently, Sheeran is happier saving his pennies. But why? Here's Ed Sheeran and his extremely frugal lifestyle, explained.
10 This Is His Extraordinary Net Worth
Amazingly, Ed Sheeran is the richest British singer aged 30 and under, beating the likes of Dua Lipa and Harry Styles. His net worth is a jaw-dropping $200 million, which he has made from record sales, sold out world tours, and writing hit songs for other artists.
9 But He Only Lives On $1,000 A Month
Despite having a net worth that would make even the wealthiest people's eyes water, Sheeran has given himself a strict allowance. Given that he was once homeless, it makes sense that he acknowledges the importance of staying humble and living within one's means.
He's not the only star to impose an allowance on themselves. For instance, British actress Keira Knightley gives herself an annual allowance of $50,000 so she doesn't lose touch with her non-wealthy friends.
8 He Says He Doesn't Spend Money
Many super rich celebs like to spend their cash on obnoxious cars and designer clothing. But not Ed Sheeran.
Rather than purchase a fleet of luxury cars, Sheeran decided to treat himself to just one vehicle when he made it big: an Aston Martin DB9. As for clothes, he can usually be seen sporting the same scruffy, casual outfits. "I really don't spend much money" he said in 2014.
7 He Invests His Money Where He Can't Touch It
Through the years, Sheeran has amassed an enormous property portfolio. He owns a jaw-dropping 27 properties, worth around $86 million altogether. Among the properties he owns are numerous London homes ranging in value from £1.72 ($2.3) million to £31 ($43.6) million. He also owns a bar in the trendy Notting Hill district.
All of the properties were bought outright, so Sheeran saves money by not having mortgages and his net worth benefits from the rising property value. What's more, he rents out the properties, earning extra cash as a landlord. For instance, the average rent in the fancy Holland Park area of London, where he owns a mansion, is £909 ($1,279) per week.
6 His Political Views May Hold The Key To His Frugality
Politically, Sheeran stands on the left. He stated that he supported Jeremy Corbyn, who is a left-wing politician in the UK and former leader of the Labour Party. Perhaps these views hold the key to Sheeran's frugality, as he doesn't believe in making unnecessary and ostentatious purchases typically associated with the super rich.
However, we're not quite sure how owning and renting out 27 properties fits in with the singer's left wing views.
5 This Is Why He Doesn't Trust Himself With His Own Money
Part of why Sheeran is so frugal is that he simply does not trust himself with his vast sums of cash. "If I had all my money in one account I would spend all of it, so I get an allowance," he explained.
That's fair enough, seeing as there are a number of once wealthy musicians who managed to blow through their extraordinary fortunes.
4 He Believes That Money Is The Root Of All Evil
In his song "Eraser", from the 2017 hit album Divide, Sheeran sings that "I think that money is the root of evil and fame is hell". He elaborated on his attitude towards money in an interview with OK! Magazine, "I don't have much value on it. I have more value on my friends and family being OK. A lot of my money goes to charity or to children's hospitals near where I live."
3 He Shops In The Discount Aisle
Multimillionaire musician Ed Sheeran in the discount aisle? You better believe it. One of the many ways Sheeran saves his pennies is by purposely seeking out bargains.
"I went on a spree on Amazon, they're pretty much giving away DVDs for free these days. I bought 200 films," he told the Irish Examiner. When asked why a filthy rich celeb like himself would care about discount DVDs, he simply said, "You never want to be wasteful."
2 This Is The One Thing He Spends A Lot Of Money On
No, it's not champagne or caviar: Sheeran breaks his spendthrift habits for taxis. "I spend most of it on taxis!" he exclaimed to the Irish Examiner.
Seeing as he's one of the biggest stars in the world right now, we can't really blame him for opting for taxis over the subway.
1 Fatherhood May Force Him To Be Less Frugal
Last year, Sheeran and his wife Cherry Seaborn welcomed their daughter, Lyra Antarctica. Sheeran may have been living a prudent lifestyle pre-fatherhood, but as the costs of raising a child mount, he will likely see himself having to open his wallet more often.