No matter how much money you want to have in life, it’s always good to have someone to look up to. Even if you don’t wish to be a billionaire, the people who are know their money. Many of the richest persons in the world have amassed their riches from scratch. They have learned how to play the game and make the right decisions to build their empire. Some of their success is a result of luck, but a lot of it comes from hard work. Do you want to feel inspired by some of the richest people in the world? Check out how these billionaires made their billions.
Everyone knows Bill Gates’ name. The man responsible for Microsoft, he started the company in 1975. It’s unlikely he would have the money that he does today without Microsoft. But it’s not just profits from the corporation that are responsible for his billions. In fact, Gates is no longer involved in the running of Microsoft. So a large amount of his wealth doesn’t stem from there. He grows the money that he already has. He does so by investing it in stocks, bonds, and private equity. But he doesn’t keep it all for himself. He used his money to set up the Bill and Melinda Gates Foundation with his wife. So Bill Gates earned his billions with a successful company, and keeps them by investing.
Carlos Slim Helu and family
The second richest person in the world is Carlos Slim Helu and his family. Don’t know his name? He’s a Mexican business magnate who made his billions in the telecommunications industry. He has previously been ranked as the richest person in the world. After a few years, he was overtaken by Bill Gates. He’s chairman of Telmex and America Movil. The latter was the largest mobile phone carrier in Latin America in 2010. But it’s not just telecoms that Slim is involved with. His wealth comes from holdings from companies in many industries. They include education, healthcare, manufacturing, and many other industries through his conglomerate, Grupo Carso. So where did he get his start? After working as a stock trader in the 1960s and founding a brokerage, he began building his empire.
Anyone interested in investments knows the name Warren Buffett. With his holding company, Berkshire Hathaway, he has his fingers in a diverse portfolio of pies. Industries he’s involved in include railroads, energy, and insurance. Budding investors often look towards what Buffett is investing in. It helps them decide if they too could make some money from them. Buffett had been interested in investing since he was a young boy. He made his first investment in his father’s company at age 15. He worked as an investment salesman and a stockbroker. He then operated several partnerships, which helped him become a millionaire.
Becoming one of the richest people in the world seems to require a good start in life. But there’s hard work involved too. If you want to follow in their footsteps, or even just live comfortably, you can learn from these financial giants.
DISCLAIMER: These articles are for information only and should not be construed as advice. You should always seek advice prior to taking any action.