The CEO of Zappos is living proof that sometimes less is more.

41-year-old Tony Hseih isn't your average billionaire. Despite his deep pockets, Hseih lives surprisingly frugal, spending less than $1000 per month on rent to live in a 240-square-foot trailer. According to Hseih, he'd rather spend his fortune on experiences than material possessions.

And if you were expecting the CEO of one of the biggest shoe retailers in the world to have an equally impressive sneaker collection, think again. Hseih manages to get by with just four pairs in his closet — "A pair of flip-flops and slippers that I wear at home. And a pair of Donald Pliner's that I'll wear when I'm not allowed to wear sneakers," he said.

Although we probably won't be downsizing our collections anytime soon, it's definitely something to consider. Check out a tour of his home in the clip below courtesy of ABC News.