What separates billionaires from millionaires? Hard work, perseverance, humility, luck, honesty and the ability to accept and get rid of failure. But there is also something else.
Spyssape told about the secrets of success of the richest people in the world. GLOBAL HAPPENINGS chose the main thing.
1. Elon Musk: fortune – 199 billion dollars. (according to the Bloomberg index)
Elon Musk, chief executive of SpaceX and Tesla, is sure that it’s not about making money as such. His advice: follow your hobbies, don’t be afraid to think big or take risks. “Enjoy yourself” is one of his main mantras.
Yes, Musk on the one hand wants to colonize Mars and revolutionize the automotive industry, but at the same time he is happy that one of his companies is studying the brain of a monkey so that he can play video games. “One of the things we are trying to figure out is whether it is possible for monkeys to play ment-pong with each other. That would be pretty cool,” Musk shared his impressions.
Also stands for reading (He himself read the entire Encyclopædia Britannica as a child). In addition, the billionaire advised “create, don’t complain”. Another of Musk’s principles: love your shareholders like your family;
- create trends, rather than follow them;
- ignore criticismbut ask for feedback;
- always think about how can you do something better.
2. Jeff Bezos: net worth – $148 billion
Jeff Bezos stepped down as Amazon CEO in 2020 at the height of his success. According to him, the main secret is to have your own visionbut at the same time organize your time and focus on the next two to three years at the most.
“Vision is absolutely important, but it does not deserve everyday attention. Basically, your time should be spent on what is happening today, this year, maybe in the next two or three years,” Bezos told the Yale Club in New York. 2019 year.
In addition, he recommends not afraid to be ineffective sometimes. Another success secret of the founder of Amazon is focus on customers, not competitors.
“If you want to know the truth about what makes us different, here’s the thing: we’re really customer-focused, we’re really time-driven, and we genuinely love to invent. Most companies aren’t like that,” Bezos said.
3. Bernard Arnault: fortune – 191 billion dollars.
Arnault is the head of the world’s largest luxury goods company LVMH Moët Hennessy – Louis Vuitton SE. It includes brands such as Christian Dior and Tiffany & Co. Arno describes his secret as follows: “I competitive and always want to win“.
The person Arno is most passionate about in business is Warren Buffett, whom Arno describes as “a long-term investor with brilliant ideas.” Arno is also attentive to details and qualitywhich allows him to see the value of even seemingly unsuccessful ideas.
“I think that in business you need to learn be patient. Maybe I’m not very patient myself. But I think what I learned the most was how to be able to wait for something and get it at the right time,” Arno shared.
But the billionaire also believes: even being at the top, you can’t be inactive. “I often tell my team that we should act like we’re still a startup. Don’t go to offices too often. Stay on site with the client or designers while they work. I visit stores weekly, always looking for managers. I want to see them in the field, and not in the offices for paperwork,” said Arno.
4. Bill Gates: fortune – 128 billion dollars.
Bill Gates, who reads about 50 books a year, believes that openness to new ideas – this is the path to success. Other important ingredients: to be surrounded by a great team and know when to delegate.
Gates gave some more advice to the students of his old school in Seattle (the only school he graduated from when he left Harvard). In 2019, Gates advised students at this school to always be inquisitive and optimistic, as well as clearly understand what they can do and what not.
Despite the fact that the billionaire did not finish his studies at Harvard, he still advocates a solid educational basewhich ideally includes science as well as a constant willingness to keep learning. He added that in today’s world it is very easy to brush up on knowledge through podcasts or online learning.
The billionaire philanthropist also said that as he got older, he discovered sleep benefits. Matthew Walker’s book Why We Sleep influenced Gates.
5. Larry Page: $113 billion
Google CEO Larry Page thinks companies should make products that are 10 times better than their competitorsif they want to succeed in business.
However, he does not believe in looking only at his opponents. “It’s hard to find real-life examples of truly amazing things that have happened purely because of competition,” Page told Wired magazine.
Page came up with Google when he was only 23 years old. To stay on top for a long time, the billionaire advises to follow a few rules:
- constantly improve (Google search engine algorithm changes daily);
- having “too few” managers rather than “too many”;
- follow the trendsto see where the markets are heading in a rapidly changing technological environment;
- avoid conflicts of interestmaintain objectivity and lack of bias.
As GLOBAL HAPPENINGS reported, the other day Elon Musk again became the richest man in the world. He overtook Bernard Arnault in the rankings. The fact is that in 2023, Tesla shares rose by 66%, increasing Musk’s fortune, and the slowdown in economic growth affected the sale of luxury goods.
Source: Obozrevatel
I am a journalist who writes about economics and business. I have worked in the news industry for over 5 years, most recently as an author at Global Happenings. My work has focused on covering the economy news, and I have written extensively on topics such as unemployment rates, housing prices, and the financial crisis. I am also an avid reader and have been known to write about books that interest me.
