Twenty-five years ago there were fewer than 20 billionaires on the planet. Today there are thousands scattered just about everywhere. Once upon a time the ‘list’ was almost totally made up of USA citizens. Today fewer than half reside in the good ole USA.
The current economic climate may mean some of these folks may not be billionaires long. I suspect they will all survive. About a third inherited their wealth. They also know how to maintain and grow it. The other two thirds, almost everyone them, made their money with a business.
In looking for common traits I looked at the following:
Education
Most do have a college degree but there are many without one and many who never finished high school. Historically many never completed grade school! Formal education is not necessary for wealth and specialized education clearly is required.
Work Ethic
Forget vacations and the 9 to 5. Almost everyone appears to be a workaholic by normal standards. 12 hour days and many never took a vacation while their business was growing. We all have 24 hours to use. The wealthy spend nearly half on their dreams. None won the lottery or mention ‘luck as part of the equation.
Focus
They are always finding opportunities that fit into their scheme or plan. It’s like they look through glasses focused on “How could I profit from this?” They don’t focus on mistakes but look at them as another opportunity or a lesson learned.
Drive
Money is not the primary or sometimes even part of the equation. Their vision is on something that calls them into being, into action. The money is appreciated and a side benefit from the actions they take.
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