Bill Gates is worth $81 billion. His watch is worth $10. At least that's what he told Chief White House correspondent Mike Allen at yet another Bank Of America-sponsored Politico events this morning. The phenomenon of very rich men wearing very cheap watches isn't new. Lloyd Blankfein famously rocks a Swatch. But Gates is truly pushing the boundaries of cheap wrist wear, with a timekeeper 1/5 the cost of Blankfein's Swatch. In fact, $10 is about as cheap as watches come. Any cheaper and it's coming out of a vending machine, which of course means ol' Bill may have simply been being modest.

[H/T Politico