Here's a spot on article about Warren Buffett in 2012. And if Berkshire Hathaway didn't have Netjets in their portfolio, Buffett would still travel in a private Jet, stay only at 5 star hotels and be driven around in limo's 350 days out of the year. I don't blame him for doing that, he's one of the richest guys in the world. He should live like that. Anyone believing he's frugal because he owns the home he grew up in and has an older car in the garage makes him frugal is just silly. He want's people to think he's just a regular guy. Yet he's the furthest thing from it.
http://dailyreckoning.com/warren-buffett-hypocrite-extraordinaire/
You do realize that he's worth more than $72 billion? And that most of that is tied up in investments, including owning a large % of Berkshire Hathaway stock? And that using a company jet, limo, and expense account for travel expenses are most likely written off by the company as legit expenses, the same as with any CEO of any legit company?
CEO's of publicly traded companies should travel privately for many reasons. Could you imagine him flying business class 5 years ago and discussing business on his phone with Munger and co in earshot of other businessmen when Berkshire Hathaway was looking at acquiring the publicly traded Lubrizol? Do you realize what would have happened to Lubrizol's stock price and the deal? Lubrizol stock would have skyrocketed, and the deal would have collapsed.
They also tend to ride in limos to and from work so that they can not waste time and spend that travel time working.
Most people worth 1% of 72 billion ($720 million) would not be living in a 1 million dollar home and driving a lone caddy. They'd likely be living in a home worth at least $5-10 million or more and driving multiple high end cars. Not all, but most. If you won a couple hundred million in the lottery, would you settle for a caddy and a $1 million home?

He's done so well because of his uncanny investment genius, not paying much in taxes with his buy & hold strategy, and living a
relatively frugal lifestyle - choosing to invest and reinvest and reinvest again and again with most of his money, rather than be obsessed with keeping up with the Joneses. All else more or less equal, the more frugal guy will be richer than the flashier guy - particularly if he's also paying less in taxes.