Richard Branson is sitting on a $5 billion fortune but spent years cringing over displays of wealth 

Virgin Group founder Richard Branson is known for his eccentricity — and his billions.

 Danish Siddiqui/Reuters

• Sir Richard Branson, founder of the Virgin Group, has an estimated net worth of $5 billion.
• When he spends his money indulgently, it's only to make money in return — like renting out real estate he owns, such as Necker Island.
• In fact, Branson once said in an interview that he's "embarrassed" by displays of wealth, like leaving large tips and buying things for "pure luxury."
• A member of the Giving Pledge, Branson would rather spend his money on philanthropy.

Nearly 50 years after dropping out of high school at age 15 and founding his first business, Sir Richard Branson is now the billionaire chair of the Virgin Group, which brings in more than $21 billion annually in global revenue.

Having overseen approximately 500 companies, Branson, who is known for his charisma and eccentric behaviors, has an estimated net worth of $5 billion.

Ever the savvy businessman, Branson has spent some of his billions indulgently, but only to make money in return — like renting out real estate he owns (think Necker Island). When it comes down to it, Branson is rather frugal, opting not to own objects of pure luxury. He also donates much of his time and money to philanthropic efforts.

Below, see how the eccentric leader spends his billions.

Richard Branson launched his first business at age 15. In 1972, he founded Virgin Records and went on to launch the Virgin Group conglomerate. Through this, he's built an estimated $5 billion net worth.

Punip Paranjpe/Reuters

Source:Forbes,Business Insider

Branson is well-known for his jet-setting adventures and eccentricity, such as dressing as a butterfly to run a marathon.

Christopher Lee/Getty

Source: Business Insider

Virgin Media, Virgin Australia, and Virgin Atlantic are some of the biggest companies under Virgin Group.

Ethan Miller/Getty Images

Source:Financial Times

Overall, Branson is frugal when it comes to luxury items, largely because he grew up in a middle-class family. "The idea of having a possession that is there just as pure luxury, and is not actually paying its bills is something which I'd be embarrassed about," he told The Guardian in 2002.

Paul Kane / Getty

Source:The Guardian

He does have a history of luxury purchases, but they're often more an investment than a personal indulgence.

Getty Images

Source:This is Money

Case in point: Branson once hired a plane for $3,000 when passengers were bumped off his flight to the Virgin Islands. He advertised the flight going one-way at $39 per person and made $69. It was his first ever flight, he said.