How to Become a Rich Billionaire
What does it take to become a billionaire? Are rich billionaires rags to riches stories or did they inherit their wealth? Are there any similarities in the way people get rich so you can detect a pattern and copy it to get rich?
Do you want to be a rich billionaire or a multi millionaire?- A US dollar billionaire and not the Zimbabwe dollar kind.
Photo source: Wikimedia Commons
You wouldn’t be the only person in the world to be wishing this. Billionaires (the dollar billionaires) are seen to be possessing everything one can dream of.
What does it take to become a rich billionaire? Do they have special skills or characteristics, which others lack? Are there any rags to riches stories there or did they inherit their wealth? Are there any similarities in the way people get rich so that a pattern could be detected and then replicated by others?
Did these rich billionaires attend the elite Ivy League universities or were they school dropouts? Let us investigate the lives of the richest billionaires today.
Billionaires Born in Wealthy Families
Warren Buffet as the world’s richest man carries on his father’s trade of stockbroker. He got a masters degree from Columbia Business School and took a Dale Carnegie course in Public Speaking.
Carlos Slim Helu at No.2 is the son of wealthy Lebanese immigrants in Mexico. His father gave all the five siblings a bank savings book, so that they could deposit their usual weekly allowances. Their father regularly supervised their savings books, analyzing their expenses, purchases, and activities. Parental guidance taught Carlos about savings and investing.
Formerly No.1 for thirteen consecutive years, No.3 on the 2008 list is Bill Gates, a dropout from Harvard University. He comes from a wealthy and influential family, which supported him to start his venture with friends that eventually became Microsoft. Both his parents were very influential and helped him significantly in his career.
Rags-to-Riches Billionaires
At No.7 of the Forbes list is the Swede Ingvar Kamprad of IKEA fame. He is the first in the list with a father or mother who wasn’t wealthy. He started his business by selling matches from his bicycle to neighbours near the farm in Sweden where he was born. Despite having a fortune of 31 billion US $ Kamprad still lives frugally and visits IKEA stores for the cheap meals (they are very good, cheap, and tasty). He learnt to cope with dyslexia, been exposed as a member in a pro-Nazi organization in the 1940s and alcoholism early in his career.
At No.12 is Sheldon Adelson, with his $26 billion is the son of a Boston cabdriver. His mother’s family was Jewish immigrants from Lithuania and father’s from Ukraine. When he was 12, he borrowed $200 from an uncle to sell newspapers at street corners. He dropped out of college to pursue fifty different businesses, where he lost much in venture capitals and real estate. Sheldon made his fortune by creating the computer industry’s premier show, Comdex, mid-1980s. He rented space for 15 cents a square foot and leased it to exhibitors for $40 a square foot. He finally struck it rich in the Hotel business in Las Vegas.
No. 15 on the list is Roman Abramovich of Russia with $23.5 billion. He lost both parents at age 4 and was raised by poor grandparents. He amassed his fortune when Soviet Union was falling to eventually take over the Russian oil giant Sibneft. Totally opposite in style to Kamprad, he owns the Chelsea football club in UK, planes, luxury yachts, helicopters, and a home that reportedly cost $100 million.
There are others on this list of billionaires that broke many rules articles, books, and courses teach about how to get rich. But they spotted opportunities, took great risks and capitalized on opportunities.
Richard Desmond lived with his divorced mother in a garage apartment. Quitting school at age 14 he become a drummer and worked in a coat-check room. Richard started his first magazine at age 22 and now owns dozens of newspapers and magazines worth $2 billion.
A man worth $2.5 billion, Micky Jagtiani from India dropped out of accounting school in London and took up driving taxis and cleaning hotel rooms to support himself. He also drank a bottle of whiskey a day. In one year every member of his family died. At the young age of 21 he moved to Bahrain with $6,000 of family’s savings. There, he started selling baby products. His chain is now one of the most profitable retail groups in the Middle East.
The richest man in Asia or $26.5 billion owner Li Ka-Shing came to Hong Kong from China in 1940. He was forced to quit school at fifteen to work in a plastic factory after his father died. Then he started manufacturing plastic flowers with borrowed money. This business grew into Cheung Kong Industries, a conglomerate with stakes in telecom, property and supermarkets.
Kirk Kerkorian with a fortune of $16 billion, is the son of Armenian immigrants. He dropped out of school in the eighth grade to take up boxing. Kerkorian then started flying across the Atlantic in World War II. His company MGM Mirage owns more than half the hotel rooms on the Las Vegas Strip.
A man worth $20.2 billion, Amancio Ortega from Spain was the son of a railway worker. With borrowed $25 and help from his then wife Rosalia Mera, who is now also a billionaire, he created gowns in his living room and sold these to customers. Ortega owns Inditex, one of the world’s most successful clothing manufacturers, best known for the Zara brand.
The billionaire ($1.5 billion) celebrity author of the Harry Potter series, J.K. Rowling lived on welfare while finishing her first Harry Potter story. She had been working as a free-lance English teacher in Portugal. As a single mother, she returned to the U.K. after her mother had died.
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Oprah Winfrey was born in rural Kosciusko, Mississippi. On her grandmother’s farm, Winfrey often wore dresses made of potato sacks, causing children to make fun of her. Oprah has explained that her conception was due to a single sexual encounter between two teenagers, Vernita Lee, a housemaid, and her father, Vernon Winfrey, a coal miner. From the age of nine Oprah was reportedly sexually molested by male relatives. At 14 she reportedly gave birth to a premature baby, who did not survive. Now Oprah is the reigning queen of American television with a fortune of $2.5 billion.
Vital Skills for Becoming Rich Billionaires
So, it seems that there is no common magic recipe to copy and become a billionaire as each one of these billionaires has had a unique route to success, however controversial that may be. Some had to face terrible tragedies and hardship, which would have destroyed many other human beings. Others did not have these hurdles to overcome but all of them had to work really hard. All of them had to integrate aspects of themselves, which could be called the ‘dark side’ or ‘the shadow’ as the great psychologist Carl Gustav Jung called it, into their personality and function convincingly among other human beings. We could say that the greatest effort they invest in order to become successful is with their own selves.
Self-management is the most difficult part of management skills needed to become a billionaire.
Along with this skill for self-management, there are however, four additional common factors in all these billionaire life stories.
They all had a burning desire to be successful, and they relentlessly pursued their goals without losing faith in themselves.
Secondly, each one of them had an inner conviction. They saw themselves as successful in their mind’s eye and did not give up in spite of all difficulties. This ability to first visualize success and maintain this vision seems to be a key component for success in all fields.
Thirdly, they all took major risks in thinking out of the box and acting consistently.
Lastly, they all understood the value of networking and engaging other gifted people.
Even if you don’t become a billionaire, you can get so much happiness by beginning to appreciate and being more thankful for what you have. If you can’t get what you’d love, love what you’ve got.
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User Comments
Unelmoida Voin
On June 10, 2008 at 2:06 pm
I expected to learn few steps…. but fund none so let us remain poor but still content
patrick regoniel
On June 10, 2008 at 4:44 pm
We may reap all the wealth of this world but all of these will pass away. I agree with Unelmoida that we should be content with what we have although we should not also be indifferent to opportunities that come our way.
Nicki B.
On June 12, 2008 at 3:35 am
Very interesting… I’m hoping I can possess some of those vital skills…
-Nicki B.
David B
On June 12, 2008 at 11:41 am
Some of these people were crooks, like Abramovich. How can you say they are role models?
Johanna
On June 14, 2008 at 8:35 am
Very interesting way to look at these peopl’s lives.Good article.
nobert soloria bermosa
On June 14, 2008 at 12:20 pm
very interesting indeed,well, they wanted to be rich or to remain rich that’s why,for those who want to be rich should possess some of those vital skills, i’m happy and contented with my “simple life”
Lucy Lockett
On June 15, 2008 at 7:23 pm
It all comes down to what you want from this life! Interesting…
JohnG
On June 16, 2008 at 5:09 am
It would be great to know if these any of these were happier than ordinary people. Good story.
diane p. mccloskey
On June 16, 2008 at 9:11 am
seems like lots of them dropped out of school…interesting…and yes, took risks and saw opportunities. thanks for the insight!
Jaeger McDermot
On June 19, 2008 at 6:01 am
Thought provoking article. But can we recommend dropping out of school? Hardly. There are many hungry school dropouts.
Not yet a billionaire
On June 20, 2008 at 6:58 am
Very interesting to see how the super rich are focused on becoming super rich. Also the dropping out of school bit is important. It suggests that they made their own fortunes.
Ruby Hawk
On June 20, 2008 at 9:46 pm
A very interesting article.
MagisterL
On June 25, 2008 at 11:41 am
Really interesting article. Obviously there are many ways of getting rich as there are many roads to ruin.
neelam pandey
On July 8, 2008 at 1:03 pm
awesome work! rags to riches part was really inspiring!
eddiego65
On July 11, 2008 at 10:34 am
Truly interesting!
booradley
On August 12, 2008 at 9:03 am
I love hearing the rags to riches stories. It’s so uplifting. Thanks for sharing.
Guerilla Billionaire™
On October 17, 2008 at 3:00 pm
Hello,
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William
On October 20, 2008 at 11:57 pm
We breathe the same air, live in the same universe. We are all equal. Remember the 2nd richest people in Taiwan, he just passed away. Maybe he is more appropriate to tell you how it feels to be a billionaire.
For a poor guy like me. Maybe it is good enough to have a good job, warm family and be healthy.
Donald Carter III
On November 6, 2008 at 1:21 pm
I noticed one thing in the world that man has always searched to be wealthy and rich but Godliness with contentment is great
gain. College isn’t for everyone. We all must find our way
call me al
On November 13, 2008 at 2:46 am
lacking opportunity, looking at the world very differently,
exspecialy feeling hunger and desire inspires the mental processes of a billionaire you need to do it for yourself off your own bat without being skimmed by the greedy who will try to
take it from you. think differently and dont think it do it.
john
On November 20, 2008 at 11:55 pm
sick article im on my way
king Hades
On February 16, 2009 at 4:27 am
someday you’ll see my name there…at the top…
Rana Sinha
On February 16, 2009 at 12:23 pm
Thanks everyone for your comments. King Hades, OK. The bet is on!
David - the optimist
On March 23, 2009 at 2:07 pm
Well……..here I am…….£217,000 in debt with £0.67 in my business account and £1.94 in my personal account……..watch this space
I’m going to retire, debt free, in 4 years……!
Great article, by the way.
LaMarsha Wilson
On April 24, 2009 at 9:02 pm
I would like to be a billionare ….I have bad credit and some business skills to run a television network cah you help …if so email me at wilsoneveon@yahoo.com
Daniel
On May 1, 2009 at 11:01 pm
They richest men referred above are definitely wealthy as compared with us, though, they started their business in 1900s.
Unfortunately, it is 2009 this year. All commercial giants take control of all or most chances of being wealthy among us.
Alexei
On May 4, 2009 at 6:22 pm
i agree with daniel, im have a variety of skills, but the only thing holding me back is my health condition, I was born in a poor country, lived in an orphanage, got adopted and became not wanted for no unknown reason, and have no family. but one good thing i can say is I am very happy with friends whos familes have accepted me as part of their own and they all support me, also i wont ever be a billionaire. EVER! but i will be rich wich is good enough, i dont need jets, yachts fancy dinners, and houses around the world. All i need is the support, skills and effort to go out and finish what i started. first ive begun doin a course in (interior design) and (buissiness management) then I will have my own buisness going and hope it hits the ceiling. The reason im doing all this is because there are not many jobs going in interior design, and most people who do finish their course in that proffession usually sit around home waiting for a job to apear. so im moving ahead as soon as i can so i can retire at age 40.. im now 23 i have done many course in ( people skills, communication skills, telecommunications wich also boosts up your people skills to help get a kick start towars your chosen careers) well anyways those are my plans.
So goodluck to everyone out there and hope you all will acomplish things in your life and become happy. you dont need to be a millionaire or even a billionaire to be happy..
cya
amor versace
On June 25, 2009 at 4:10 am
when you have everything in your life, sometimes it can be boring.. let’s appreciate our “simple life”.. because, for me – love, family and friendship are far more important.. but if we succeed and become one of “them”, it’s better to keep it “simple”..
jeff
On June 25, 2009 at 7:36 pm
there is only one thing that i can say in fulfilling those riches, “it is simply the journey to become rich” riches can’t choose the best way what you are, it can disregard everything(education,knowledge, ability,skills etc). because it have a equality that every one can deserve.
tviper95
On July 17, 2009 at 7:23 pm
some of these stories are inspiring as I hope to be rich someday, I’m glad some of them have discussed that they had some help financially since that makes a huge difference compared to the average person who is not born into a wealthy family such as myself.
Loyiso
On August 12, 2009 at 8:39 am
this all makes sense, i just hope i don’t have to wait that long to become one.
chuks
On September 6, 2009 at 10:40 pm
i just know inside of me that in a shortwhile i’ll become a billioniare
anoyamous
On September 19, 2009 at 6:34 am
i feel that having a business mind is essential in all aspects of running a business. But keeping it going smoothly is another thing. unfortunately, i don’t have the perserverance to get things going smoothly. i just want to relax and take the profit hoping others will do the tough thing for me. In short, i am plain lazy. i like to laze around and wait for opportunities. Even if there are any, i would just think i can come back to it tomorrow. and it would be a never ending tomorrow until the whole piece of fat meat got into other people’s hand. i can only succeed if someone is stupid and loyal enough to do my bidding. I know the way to success, i know exactly what to do to become real famous in my business. i know how to sell my products & services at a higher price. i have very strong pursuasive power. Everybody told me that. They say i would be a great success. But i fail in my business because i laze around to surf on the internet. At this time i should be looking for opportunities to meet more clients, but i am surfing the internet reading successful people’s articles. the thought of going to my client’s place to talk about business makes my butt stuck to this chair. I pretend to be rich, but i am penniless. i spend like crazy. spend like there is no tomorrow. so now i am in this sorry state working for others. the thought of my efforts will be my boss profits makes my blood boils. i have alot of skills. sales skill, managing skills u name it. but i don’t utilise them. i am just interested in it for 3 mths. later i would be out of motivation. then i would laze around again. but i want to be a billionaire and i know there is someone out in the world having the same charactor as i am. have good and adequate qualities to be successful. but got into debts. i have to hide from my debtors and change my phone numbers. i am very good in talking but no actions taken. even my debtors cannot outtalk me to pay them. they are burley guys. they wouldn’t even dare to lay a finger on me when i say i spent the money and i won’t be paying u a single cent. they send debt collectors to my house. but after few attempts in vain due to my sharp mouths and quick brains, they eventually gave up and i havent seen them in about 3 months. i was really hoping they would say the wrong word or do the wrong thing, so i can make them pay me a reasonable sum while i got away with the debt. but they didn’t. Now i really wanted to change. i pursuaded 2 colleauges to form a partnership with me each coming out with RM30000. Those 2 idiots really agreed and came out with the money. When it was my part to come out with the money, i successfully put it off and the 2 were so happy being distracted by some in coming business i got for our newly formed company. how do i find such big sum of money when i do not even have the ability to pay my loans. These 2 collegues was actually very loyal and hardworking in our present job, but recently due to my negative reinforcement, motivating, sweet talking & pushing, they become restless in their jobs. they are now 80% loyal to me. although my boss did not offend me and he even think highly of me, i still think i won’t get to his standard of living. i am jealous. he is about the same age as me, why is he more succesful when his brains is like a fly? why can he afford to have so many properties and fancy cars and i have nothing? so by taking both of his capable workers with me will be his downfall. i don’t know why that by the thinking of his downfall makes me happy. He treats me fine. Am i sick or what? i feel that sometimes i am a born con-artist. i don’t understand why if i were to propose something, they would sure be people to come out with the money. But in the end, i would spend it all. and i won’t pay. i am dishonest. i am a crook. i don’t like it that way. but in fact i really am. i can gain people’s trust easily. i can make them run a goose-chase and they will thank me in exchange. if any of you don’t believe this is true, you can try it. but i want to change. i realy want to be serious this time in my new business. i don’t want my colleagues to fail because of me. if any of you have any suggestions or comments, please feel free to criticize me in any way u like i won’t mind. thank you.
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