Learn How To Become A Billionaire
How To Become A Billionaire Many people would like to learn how to become a billionaire, but before charting the course towards becoming a billionaire, consider the fact that out of the 7 billion inhabitants of planet earth in 2011, only 700 are billionaires.
A drop in a very big bucket, to say the least! Having said that, it should also be added that there is no single, sure-shot method.
However, after looking at the ways the existing self-made billionaires earned their fortunes, it seems that there are many similarities which a vast majority of them have in common.
The Russian world version of how to become a billionaire cheap starts by getting hold of assets illegitimately.
This can be achieved by either one of two methods, use the help of the state or just grab whatever is possible directly from the state.
A second method is to simply eliminate all competition by killing all existing rivals.
Then, buy a mammoth yacht and or an athletic team and you're set for life.
If, however, you live in the Western world, the Russian version may not go down so well, in which case it is better to take a look at how people in this part of the world have done it.
Successful people start with a dream or a vision.
They are observant people, who have noticed that there is a need in society, or society will benefit from their dream and they work towards fulfilling that belief.
Take for example, Sam Walton, who introduced a whole new concept in selling.
He decided to keep prices lower than competitors by cutting back his own profits and increasing the number of sales.
Google came about as a result of visionaries who realized the potential search engines held.
There are some fields that are better suited to how to become a trillionaire than others.
While a lot of the new generation billionaires have managed to do so from the high tech industry, the financial field is still the time-tested option.
The most notable self-made billionaire in this field is Warren Buffett, whose philosophy of investing in companies with a competitive edge helped him to earn returns of more than 20% spanning over forty years.
Investments in sound stock, hedge funds, treasury, note deals, bonds, and ETFs (Exchange Traded Funds) help to achieve a goal of a billion dollars.
The average age of people who managed to make their billions is in the mid 60s.
This means that if one happens to be a Baby Boomer, the chances of becoming a billionaire are better.
Part of the reason for this is that they matured at a time when economic recovery was in the process and there were lots of opportunities.
Another common characteristic of billionaires is their patience.
So, if the goal is how to become a billionaire overnight, then chances of success are limited.
Billionaires tend to be very composed and extremely focused by nature.
Jeff Bezos started his Amazon.
com website in a garage with a handful of employees and kept at it, even though many people scoffed at his idea.
Billionaires are also risk takers by nature and they realize they may lose everything.
They understand failures are a part of success and they accept this.
In 1992, George Soros, capitalizing on an observation by one of his partners, sold short a huge amount of British currency.
He sold an excess value of ten billion US dollars of British pounds and earned more than $1.
1 billion dollars in profit in one day! His risk was an educated risk; he knew what he was doing.
Failure does not deter wealth creator, it only makes them stronger so they come back with greater determination.
There are a number of other characteristics of billionaires.
For example, being a man gives one a better chance of becoming a billionaire than a woman.
Oprah Winfrey is a rare example, in an otherwise men's world.
Women make up less than three percent of the self-made billionaires and part of the reason for this is that women by nature take fewer risks or venture investments to raise money.
Women also tend to be in the minority when it comes to the top executive positions in major corporations.
How to become a billionaire requires an individual to possess some basic characteristics, intuition, luck, and being in the right place at the right time.
A drop in a very big bucket, to say the least! Having said that, it should also be added that there is no single, sure-shot method.
However, after looking at the ways the existing self-made billionaires earned their fortunes, it seems that there are many similarities which a vast majority of them have in common.
The Russian world version of how to become a billionaire cheap starts by getting hold of assets illegitimately.
This can be achieved by either one of two methods, use the help of the state or just grab whatever is possible directly from the state.
A second method is to simply eliminate all competition by killing all existing rivals.
Then, buy a mammoth yacht and or an athletic team and you're set for life.
If, however, you live in the Western world, the Russian version may not go down so well, in which case it is better to take a look at how people in this part of the world have done it.
Successful people start with a dream or a vision.
They are observant people, who have noticed that there is a need in society, or society will benefit from their dream and they work towards fulfilling that belief.
Take for example, Sam Walton, who introduced a whole new concept in selling.
He decided to keep prices lower than competitors by cutting back his own profits and increasing the number of sales.
Google came about as a result of visionaries who realized the potential search engines held.
There are some fields that are better suited to how to become a trillionaire than others.
While a lot of the new generation billionaires have managed to do so from the high tech industry, the financial field is still the time-tested option.
The most notable self-made billionaire in this field is Warren Buffett, whose philosophy of investing in companies with a competitive edge helped him to earn returns of more than 20% spanning over forty years.
Investments in sound stock, hedge funds, treasury, note deals, bonds, and ETFs (Exchange Traded Funds) help to achieve a goal of a billion dollars.
The average age of people who managed to make their billions is in the mid 60s.
This means that if one happens to be a Baby Boomer, the chances of becoming a billionaire are better.
Part of the reason for this is that they matured at a time when economic recovery was in the process and there were lots of opportunities.
Another common characteristic of billionaires is their patience.
So, if the goal is how to become a billionaire overnight, then chances of success are limited.
Billionaires tend to be very composed and extremely focused by nature.
Jeff Bezos started his Amazon.
com website in a garage with a handful of employees and kept at it, even though many people scoffed at his idea.
Billionaires are also risk takers by nature and they realize they may lose everything.
They understand failures are a part of success and they accept this.
In 1992, George Soros, capitalizing on an observation by one of his partners, sold short a huge amount of British currency.
He sold an excess value of ten billion US dollars of British pounds and earned more than $1.
1 billion dollars in profit in one day! His risk was an educated risk; he knew what he was doing.
Failure does not deter wealth creator, it only makes them stronger so they come back with greater determination.
There are a number of other characteristics of billionaires.
For example, being a man gives one a better chance of becoming a billionaire than a woman.
Oprah Winfrey is a rare example, in an otherwise men's world.
Women make up less than three percent of the self-made billionaires and part of the reason for this is that women by nature take fewer risks or venture investments to raise money.
Women also tend to be in the minority when it comes to the top executive positions in major corporations.
How to become a billionaire requires an individual to possess some basic characteristics, intuition, luck, and being in the right place at the right time.