The heiress of $10 billion Perdue farms and the $12 billion Sheraton hotel empire wore hand-me-downs, still rides the subway, and flies economy

Mitzi Perdue, the double-heiress of Sheraton hotels and Perdue farms, grew up wearing hand-me-downs and getting a public education. She's quick to draw her pursestrings by flying economy, riding the subway, and living in a modest apartment—despite sitting on a fortune from two billion-dollar American businesses. The 84-year-old journalist and philanthropist says it helps her understand 'the real world.'
The thought of a billionaire's lifestyle may conjure up images of Great Gatsby mansion-buying and jet-setting at the drop of a hat. But the life of an heiress with the wealth of two billion-dollar American businesses looks a lot different.
Mitzi Perdue was born into the Sheraton hotel family, and at just the age of 26, she and her siblings inherited their father Ernest Henderson's controlling stake of the business. The success of her family's $12.2 billion hospitality company meant she was now sitting on a considerable nest egg.
Her fortune would only swell after marrying her late husband Frank Perdue, the 'chicken king' who led America's largest chicken-producer, Perdue Farms, which brought in over $10 billion in revenue last year. The double-heiress has the riches to retire and live a life of extravagance—but it's in her nature to look at wealth differently.
'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 access to a trust from her family's billion-dollar business, alongside the wealth from the Perdue empire. Yet she still lives just like anybody else: taking her shoes to the cobbler instead of buying new ones, riding the subway, flying economy, and living in a modest apartment instead of a house.
Perdue has lived a double life—having access to immense privilege and money from two business empires, while holding down a regular job and living 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?'
Perdue was born in 1941, and as a war baby and fifth child of the Hendersons family, she grew up wearing hand-me-downs. She says she went to public school for a period of her life, later enrolling in private school and pursuing a Harvard education. When she was in her late 20's her father died, opening up the floodgates of her inheritance. But she wasn't enticed by the idea of throwing in the towel and lounging for the rest of her life.
'I could have just put everything in the stock market and let somebody else manage it,' Perdue says.
Interested in agriculture, Perdue soon bought land near the University of California, Davis so the college could run experiments on the agricultural area. She spent many hours a day managing the rice farm, but years later decided to become a journalist covering farming practices and mental health.
Starting in 2022, she began covering the conflict in Ukraine and sold her $1.2 million engagement ring from her late husband to benefit humanitarian efforts in the war-torn region. She's currently working on developing an AI trauma therapist for victims in Ukraine, which has lacked the resources to keep up with demand. For all of her work trips, she always flies economy.
Perdue has also lived in an apartment building in Salisbury, Maryland, for many years, rubbing shoulders with working-class residents like nurses and police officers. She says one year's rent in her one-bedroom flat costs just as much as what her New York City friends pay in one 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' frequently visiting New York City, she rides the subway instead of booking Ubers. Perdue also gets her shoes reupholstered, rather than buying new pairs; and designer outfits are shrugged off, as she doesn't like flashing her wealth. Her frugal philosophy is more than just 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.'
People who have not grown up with wealth may question why a billionaire would want to live life like the rest of the population: working 9-to-5, sardining on subways instead of calling private cars. The heiress and journalist says her reasoning stems from the emptiness of taking, and the joy 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—rather, philanthropy and hard work make her feel full. A huge part of Perdue's understanding of having wealth versus living a wealthy life came from both sides of her family. She noted that family businesses that are able to last 100 years are a rarity, but the Hendersons and Perdues were able to make it by putting their best foot forward.
'The families that last learn stewardship,' Perdue said. 'They're not there to go spend it all. They're there to be stewards for the next generation.'
This story was originally featured on Fortune.com

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Yahoo

12 minutes ago

• Yahoo

Chicago Sky Star Makes Demand After Loss on Sunday

Chicago Sky Star Makes Demand After Loss on Sunday originally appeared on Athlon Sports. The Chicago Sky lost to the Atlanta Dream on Sunday, falling to 3-10 on the WNBA season. While it ultimately goes down as another tally in a growing loss column, there were some positive developments for Chicago. Advertisement One encouraging sign for the Sky was how reserve center Elizabeth Williams performed. The 2017 All-Star tallied 16 points and five rebounds off the bench. While this marked a season-high in scoring for Williams, she had bigger things on her mind after the game. As the secretary of the WNBA Player's Association, Williams demanded player salaries begin reflecting the league's growth in recent years. Chicago Sky center Elizabeth Williams (1).Chris Jones-Imagn Images As reported and transcribed by Sky reporter Karli Bell, Williams issued a clear message: "On behalf on my teammates and every member of our union, I want to be clear that we remain committed to negotiating the next CBA with the league and the teams in good faith and privately, but we do want to set the record straight not for the headlines but for the fans who support us and deserve transparency about what's at stake." Advertisement She added, "This is a defining moment for the WNBA. As the league grows, it's time for a CBA that reflects our true value... We deserve a fair share, and we're demanding salaries that reflect our true value." Last month, Ben Pickman of The Athletic provided some insight into the ongoing CBA negotiations. "Players are coming to the negotiating table with several priorities, including increased salaries, a softened salary cap and more access to family planning services," he reported. "Retirement benefits that provide long-term security for players and their families are also among key priorities, and standardizing team work environments, including facility and travel accommodations as well as support staff minimums, are on the list too." Advertisement Related: Chicago Sky Announce Angel Reese Injury News After Ninth Loss This story was originally reported by Athlon Sports on Jun 22, 2025, where it first appeared.

Yahoo

16 minutes ago

• Yahoo

Texas governor vetoes bill that would ban all THC products

AUSTIN, Texas (AP) — Texas Gov. Greg Abbott vetoed a bill Sunday to ban all THC consumables, allowing the booming market flush with THC-infused vapes, gummies and other products to continue to be sold across the state. Abbott, a Republican, waited until the final moment to veto the bill in what would have been one of the most restrictive THC bans in the country and a significant blow to the state's billion-dollar industry. The law would have made it a misdemeanor to own, manufacture or sell consumable THC, or tetrahydrocannabinol, products and was the latest push by states to regulate THC after a 2018 federal law allowed states to regulate hemp, a similar plant to marijuana that can be synthetically processed to produce THC, the compound giving marijuana its psychoactive properties. Loopholes in existing law have allowed many THC-infused goods to enter the market across the country, including states with strict marijuana laws. Texas has some of the strictest marijuana laws in the country, prohibiting all recreational use and providing a limited medical marijuana program. The consumables market has allowed residents to legally access goods giving a similar high to marijuana. Republican lawmakers have criticized the products as dangerous due to a lack of federal oversight in how the goods are manufactured. Texas' ban is one of the more far-reaching among states that have taken similar steps. Several states, including California, have imposed age limits and restrictions on the potency of THC products. Critics of the Texas bill say it allows people who cannot access marijuana through the state's medical marijuana program to acquire goods that can provide a similar relief. Many retailers across the state also pointed to the thousands of jobs and millions in revenue the industry brings each year. Last year, Florida Republican Gov. Ron DeSantis vetoed a bill that would have put age restrictions on THC consumables, claiming it would hurt small businesses. ___ Lathan is a corps member for the Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Nadia Lathan, The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Associated Press

17 minutes ago

• Associated Press

Texas governor vetoes bill that would ban all THC products

AUSTIN, Texas (AP) — Texas Gov. Greg Abbott vetoed a bill Sunday to ban all THC consumables, allowing the booming market flush with THC-infused vapes, gummies and other products to continue to be sold across the state. Abbott, a Republican, waited until the final moment to veto the bill in what would have been one of the most restrictive THC bans in the country and a significant blow to the state's billion-dollar industry. The law would have made it a misdemeanor to own, manufacture or sell consumable THC, or tetrahydrocannabinol, products and was the latest push by states to regulate THC after a 2018 federal law allowed states to regulate hemp, a similar plant to marijuana that can be synthetically processed to produce THC, the compound giving marijuana its psychoactive properties. Loopholes in existing law have allowed many THC-infused goods to enter the market across the country, including states with strict marijuana laws. Texas has some of the strictest marijuana laws in the country, prohibiting all recreational use and providing a limited medical marijuana program. The consumables market has allowed residents to legally access goods giving a similar high to marijuana. Republican lawmakers have criticized the products as dangerous due to a lack of federal oversight in how the goods are manufactured. Texas' ban is one of the more far-reaching among states that have taken similar steps. Several states, including California, have imposed age limits and restrictions on the potency of THC products. Critics of the Texas bill say it allows people who cannot access marijuana through the state's medical marijuana program to acquire goods that can provide a similar relief. Many retailers across the state also pointed to the thousands of jobs and millions in revenue the industry brings each year. Last year, Florida Republican Gov. Ron DeSantis vetoed a bill that would have put age restrictions on THC consumables, claiming it would hurt small businesses. ___ Lathan is a corps member for the Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.