From Broke to Billions: 5 Strategies These Billionaires Used to Get Rich


Article written by

There are 2,043 billionaires in this world. About one quarter of these billionaires are American. Millionaires? We boast roughly 16 million of them. It’s not easy to accumulate such an enormous fortune. In fact, when it comes to getting rich, a billion is an order of magnitude greater than a million. Millionaires are a rare commodity. Not billionaires.

When a person can amass such an unfathomable amount of wealth, it piques the interest of our global population, much of them steeped in poverty rather than wealth. Is this a reason to be jealous or angry at those at the top of the heap? What is the truth? Your financial position will determine whether you are a victim of capitalism or champion.

Some people look down on those with such extraordinary wealth. Some others view them with disdain. Me? How did they do it? It is important to me that I understand their inner workings. What was their secret to such extraordinary success? What were their strategies to avoid the many pitfalls and perilous situations that have engulfed so much of civilization’s civilisation?

I have spent time with people to answer that question. Because I want to know how people live life at their highest levels, I have surrounded myself around others who do it. Do you have a secret recipe? Is there a secret formula? Unknown principles and techniques

I want to learn how they made it happen, maintained it and then grew it. Making money isn’t as complex as most people make it out to be. Sure, there is a so-called guru gauntlet that most find themselves a victim of when trying to discover the real secrets to making money online these days. This is not what I was really interested in.

I was attracted to things that move the needle. How did the world’s billionaires get so rich? How did they harbor such intense self-discipline? It is common to hear advice from these people, or even listen to them speak. But most of the information goes straight into one’s ear. Is it possible to follow much of the advice that is given? Nope. This is often overlooked. It is often entangled in negative habits that keep us from moving forward.

However, before I launch into the strategies that a handful of billionaires used to get rich, I wanted to convey one very powerful piece of advice. You are what you think. Your thoughts are power. You can use them to your advantage. You can use them to either hinder you or propel you. if you focus on positivity, good things will happen. Your life will spiral downward if you focus on the negative.

See also  WATCH: Kevin Costner Recalls the "Amazing Ray Liotta" at MLB Field of Dreams Game

What it Takes to Become a Billionaire

You’re probably asking what it takes for you to become rich. Not just wealthy. The richest at the highest levels. What is the best way to go from being broke to a billionaire? Many people simply desire positive cash flow, or even one million dollars in their bank account. Is a million dollars enough? It all depends on where and what you do.

But billionaires are an entirely different breed. This is a completely different world. It’s more like a fantasy world than a reality when you spend time with them. Their world is truly theirs. There are many strategies to help you grow, whether you want to be a multimillionaire or a beginner.

There are five strategies that billionaires used to get from being broke, hopeless and to the top. These strategies can be used to help you replicate their success. You are far less likely than those who own their own businesses to achieve this level of success.

However, if you are an entrepreneur already or a business owner then adapting is a must. We must adapt in order to survive and thrive. These strategies can be adapted to suit your needs.

Most people believe it is impossible to become a billionaire from a broke family. It’s happened repeatedly. Francois Pinault and Roman Abromovich were all once broke. They all went on to become billionaires.

How did they manage it? They did it by possessing these skills. You can also use one of these five strategies. Ask yourself this question as you go through the strategy list. What skills do I have and what can I use to adapt them for my company today?

1. Create Something That Adds an Abundant Amount of Value to the World

Today as in all of recorded history, becoming rich means adding value to the world. The most valuable people are the richest. This is how wealth can be achieved. You can make the world a better place by finding a way to add value. This isn’t a quick-term strategy. It takes time.

But it’s also about seizing the opportunities that present themselves. Patagonia founder Yvon Chouinard got incredibly rich not by inventing new products, but by improving on existing products. While Patagonia is a giant clothing retailer today, at the age of 50, Chouinard’s company went bankrupt after the fallout from a series of lawsuits.

See also  Reagan's July 4th advice is vital for times of dissatisfaction

However, Chouinard stayed the course. Chouinard added value. He improved on the quality and sustainability of our products. This is how Patagonia became a global leader. His contributions were immense.

2. Create a Consumable Product That People Love

There are many industries that produce consumable goods and they are taking off like wildfire. Industries like cold-brewed coffee, energy drinks, and electronic cigarettes are all growing rapidly. Manoj Bhargava, founder of the 5-Hour Energy Drink, grew his business from a 2003 startup to over $1 billion in sales by 9 years later.

In 2010, Howard Panes was $600,000 in debt and lost his house to a short sale when he entered into the e-cigarettes industry, ramping it up within 18 months to over $100 million in sales. Several years later, after an astounding exponential growth, Japan Tobacco International, a corporate giant with 27,000 employees and $20 billion in annual revenue acquired the company.

Panes was a novice in the field and lived in Shenzhen China to help refine its products and delivery methods. Today, as an avid car collector with a near-$15 million collection of rare and exotic hypercars, Panes has become one of South Florida’s wealthiest residents.

John Paul Dejoria was once broke and homeless. He lived in his car alongside his son. His salon-quality products were sold door to door by Dejoria. Quality was his focus and he did everything he could to make it happen. At the age of 36, with a $700 loan and while living in a car with his son, he grew Paul Mitchell Systems into a behemoth, becoming one of the world’s richest persons in the process.

3. Insert Yourself as a Service Provider Into a High-growth Industry

We saw AirBnB grow from obscurity and blow-up air mattress rentals on floors into a global behemoth, making its three founders, Brian Chesky, Nathan Biecharczyk, and Joe Gebbia, who were all once broke, into billionaires. AirBnB was a pioneer. They weren’t alone. VRBO, although vacation rentals were already gaining popularity, was the first to do so. AirBnB was better.

The goal? The goal? You can find a way to provide the exact same service but in a different manner, such as through ecommerce or financial services.

You could also create a service to attract wealthy people. Whether that means renting out exotic cars, private jets, or becoming a global concierge for the uber wealthy like Annastasia Seebohm’s Quintessentially Group, find a way you can do something more effectively than everyone else around you.

Kenny Trout, the founder of Excel Communications, achieved his success in the early telecom industry by becoming a long-distance reseller after deregulation took hold, selling over 200,000 franchises using the multi-level marketing model. Trout, whose father was a bartender and he grew up in poverty, didn’t have much. Trout sold life insurance at an early age and found a highly-growth sector that he led the way in.

See also  ‘Kneel To God And No One Else’: Trump Slams Biden, J6 Trial At Arizona Rally

4. Find a Way to Improve Communications or Connection Online

Mark Zuckerberg became one of the world’s wealthiest individuals by improving connection and communications online. Today, we all know about the success of Facebook. Zuckerberg wasn’t poor. Zuckerberg was born into an upper-middle class family.

However, what’s most intriguing is the story of What’sApp founder, Jan Khoum. In 2007, while working at Ernst & Young, and shortly after the launch of the iPhone, Khoum, who was an immigrant from Ukraine, where he was born, decided to create a communications app with Brian Acton that was released in January of 2010.

Khoum, who had been passed over for a job at Facebook just shortly prior, grew WhatsApp into a wildly popular communications application that was later acquired by Facebook for $19 billion. Khoum, like other billionaires saw a new opportunity and seized it.

5. Invest in Real Estate and Grow Your Portfolio Over Time

Real property has provided a platform for the richest people in the world. If you think that making money through real estate is impossible, especially if you have no money to start with, then you’ve got a few lessons to learn. The world’s most successful real estate entrepreneurs started from nothing. This is called creative financing and wholesaling. It can drive tremendous growth once you get it right.

The goal is to concentrate on positive cash flow. Learn how to make assets instead of liabilities, just like Robert Kiyosaki in his iconic Rich Dad Poor Dad series. Real estate can provide you with a strong foundation and platform that will allow you to grow, whether you are a millionaire looking for a job or just looking to make it big.

Leon Charney was a multi-billionaire thanks to his real estate investments. He was born to two immigrant parents and his family lost everything when his father died. He was poor and worked hard to get through college and law school.

Carl Berg is another billionaire investor in real estate. His father also died young and he was raised by his mom, a teacher. After graduating from college, Berg met someone while working in a hotel. He offered to manage his mortgage business.

The Epoch Times Copyright (c) 2022 The views and opinions expressed are those of the authors. These opinions and views are for informational purposes only. They should not be taken as solicitation or recommendation. The Epoch Times is not a source of investment, tax or legal advice, nor does it provide financial planning, estate planning, and other personal finance advice. The Epoch Times does not guarantee the timeliness or accuracy of any information.

Read More

Previous post Boy, 16, Arrested for Allegedly Killing Man, 19, in Long Beach
Next post Major Drug Company Announces Change Over Indiana’s Abortion Ban