WealthyInsights: How did the wealthiest people make their money and what lessons can we learn from them?
I was always curious about the journeys of the wealthiest individuals and what propelled them to success. Through my research and personal encounters, I’ve gained valuable insights that I believe are worth sharing.
Exploring the Path to Wealth
When looking at the success stories of the wealthy, one common thread stands out – they all had a clear vision and worked tirelessly towards their goals. Whether it was through entrepreneurship, investments, or innovative ideas, each individual found a unique way to create wealth.
Entrepreneurial Ventures
Many of the wealthiest people I’ve come across made their money through starting their own businesses. They identified a need in the market and capitalized on it by providing a unique solution. Taking risks, thinking outside the box, and having a strong work ethic were key ingredients in their success.
Strategic Investments
Others accumulated their wealth through smart investments in various asset classes such as real estate, stocks, or cryptocurrencies. They understood the importance of diversification, risk management, and long-term growth opportunities.
Learning Valuable Lessons
In my interactions with these successful individuals, I’ve learned some invaluable lessons that have shaped my own approach to building wealth:
- Mindset Matters: The wealthiest people have a positive, growth-oriented mindset that empowers them to overcome challenges and seize opportunities.
- Continuous Learning: They never stop learning and are open to acquiring new skills, knowledge, and insights that can propel them forward.
- Network Building: Building a strong network of like-minded individuals, mentors, and advisors is crucial in navigating the complexities of wealth creation.
- Giving Back: Many wealthy individuals are passionate about giving back to their communities and making a positive impact on society.
Taking Action
Now that you have a better understanding of how the wealthiest people made their money and the lessons we can learn from them, it’s time to take action:
- Identify your strengths and passions to find a path to wealth that aligns with your values.
- Educate yourself on investment strategies and financial literacy to make informed decisions.
- Surround yourself with a supportive network of mentors and peers who can guide you on your journey.
- Don’t forget to give back to causes that resonate with you and make a positive impact on the world.
By following these actionable steps and embracing the lessons of the wealthy, you too can embark on a fulfilling journey towards financial success. 🚀💰 #WealthBuilding #FinancialFreedom #SuccessTips
I met a guy who buys companies and hires people to grow the company and then sells the company. He has a team that specializes in growing a company that earns 1 million in revenue to 10 million. He then just sells it to private equity. Rinse and reqpeat.
Luck is a big factor,
Construction company. Hardest working person I’ve ever met
To save in bitcoin and build on bitcoin… the wealthy rely on inflation to keep binnez going and its not sustainable
Blue collar jobs. What I’ve learned is don’t think too hard about financial freedom. Focus on the boring brick and mortar. If you can buy a franchise and make 150k a year. You’re golden. Don’t think you have to be the next Elon musk or crazy ideas like shark tank. Be boring. Be free. Then once you have money to piss away then try something crazyyyy.
CEO of a Film Production Company:
Entrepreneurship in related industry (can’t mention specifics because I’ll dox myself and the client).
1 – Kill them softly: Always treat a shitty employee, contractor or business partner with kindness and a smile until you’ve found their replacement. Don’t even hint at your intentions to can them.
2 – Be willing and ready to break the rules, and in calculated circumstances…even the law if it doesn’t harm your reputation
3 – Delegation to experts is the most important skill for amplifying wealth
Over $50m and men that I have worked with, for, or against.
– inherited $50m, became an “artist”
– stole $180m, got caught, did jail time, kept the money
– inherited $200m, dabbles in investing in small companies
– turned around a finance biz, got a $500m bonus, tries to only spend 80% of the interest he earns from tax free offshore wealth each year
– son of 3, dad invested $10m a year in “educating” him until he got into to a role earning $20m a year
– EU royalty
– rockstar
– property developer, talent for bribing and threatening local authority staff, made about $150m
– developed an important drug, made $1bn
– bribed African nations to accept toxic waste, made about $1bn
– invented something deeply cool that the internet relies on, got $800m when company was bought
– invented 3 cool things in software, earned over $200m from each + earning from investments each time
– made $2bn selling social media company, put the cash in safe funds
– stole over $250m and got away with it for 20 years, now on the run
– endless bankers who used public money and the liquidity from CDOs or QE to “earn” (a bitter joke) bonuses in the range of $100m each then bought big houses, fast cars, yachts, new hair, plastic tits for the trophy wife, and heart disease. Fuck every single one of them.
– invented a new way to trade equities, made $200m
– Arab sheikh gifted $2bn a year because he was born
– invested money for Arab sheikhs, made $3bn for himself
– Arab sheikh gifted $20bn a year (probably much more) because his dad was born before 1953
Women very rare. Three stand out:
– rockstar
– actress
– divorced a casino owner, got a stunning amount of money
– divorced a property tycoon, got a stunning amount of money
– divorced a banker, got $100m, got lucky in a property deal after that
– brilliantly turned around a software services company, made $300m, then did that 7 more times
– husband was an international banker who died before her, leaving her with $bns
– genius grade entrepreneur, each software company sold for 5x the one before
– lucky entrepreneur, sold luxury, got out young and invested wisely
Most valuable lessons?
– NePo and inheritance is the #1 way to get really madly rich
– luck is #2 way
– the #3 way seems to be to suck a lot of dick and keep a note of the secrets you learn
– there is no correlation between effort and reward (in fact, the opposite)
– there is a small correlation between applied intelligence and rewards for innovation
– there is a large correlation between sociopathy and wealth accumulation
Property development. Lesson: don’t use your own money to make money
I grew up amongst pretty wealthy people, who made their money from continuous hard work. They are in different niches like gardening, classic industry companies and retailing. All of them have come a long way but it paid off in the end.
Entrepreneur in fashion. Make sure margins high, control cash flow, be consistent, and be frugal. Constantly think of ways to make more money and reduce risk.
Met guy who is billionaire. The way he made money was buying TLC properties and gas stations then remodel them sell them triple the price. Most people saw buy business when the properties looks well. And he exactly he knew that so he will low ball people with properties that needed work then re sell them.
* Serial entrepreneur: “Just do it”, stop overthinking, and do something you enjoy doing. This was important for me bc im structured and a planner. You’ll learn the lessons along the way anyway, but be thorough in exactly what you want to deliver
* Software sales entrepreneur: Build a reputation, hold it close, and be at your personal highest potential in every way you can be. This one’s hard but now he never has to introduce himself, he looks great and he’s well on his way to his goals.
* Ex-entrepreneur: Don’t always look for the next best thing, look for solutions people genuinely want, and deliver it how they want. Be people friendly, be humble. Made over $500m in a span of 20 years doing groceries, and selling it to an international grocery brand. I believe he sold it roughly 12 years ago, not sure, met him door knocking when I was younger.
2 born into millions , dad worked his ass off and died, additional to company wealth , higher life insurance polices for both mum and dad that passed . They will be millionaires for generations to come . Sad as they disregards people like objects though and never had they work ethic their parents had
This millionaire wasn’t ultra wealthy. This individual had worked a blue collar union job, was in middle management, and you would never guess that he was a millionaire. He was a family friend, who recently retired and sat down to share some advice with me.
His biggest take away from accumulating wealth over the years is that budgets do not work. If you are like most people, you spend time creating a strict budget, something goes wrong and you get frustrated. Frustration sets in after a couple months of not hitting your budget and you give up.
He accumulated wealth by putting away 15–20% of every paycheck into his 401k and retirement accounts. He lived off the remainder. He kept the same percentage as his pay increased and only checked his account twice a year. After 37 years of doing this he had about $2.8 million saved up and could retire.
I know not everyone has the discipline or means to save 15%-20$ of their income. However, if you are able to, you can ditch the budgets and one day retire happily.
Money isn’t everything, you gotta learn how to use it properly. Owning a lot of business and helped other is what he did.
Almost all of them were in commercial real estate or high level finance. One guys family was in airplane parts manufacturing. Outside of this, most people were just rich. The other guys were what I consider wealthy.
The wealthiest people I know right now made their money through generational wealth. Yes, they work hard to maintain their wealth but the resources are available to them, they didn’t really build from scratch. I know a few people who are wealthy enough (but not as wealthy as “old money”) and a few valuable lessons I’ve learned: hard work, discipline and networking.