All of us have dreamed of becoming a billionaire at some point in our lives. Forbes has reported that as of March 2020, there are 2,095 billionaires in the world. This figure is slightly lower than last year, likely due to the effects of COVID-19 on economies all over the world. In 2019, there were a total of 2,604 billionaires across the globe. Of these, approximately 55% of them were completely self-made. There is much to learn from these extraordinary people. Whether it includes money tips, daily habits, business tips or general life advice, it is interesting to see how these extremely successful individuals go about their lives. So, let’s see what advice the billionaires of the world have to offer.
Jeff Bezos is currently the richest man alive, with an estimated net worth of over $155 billion. The creator of Amazon is completely self-made; therefore, the billionaire can offer some fantastic advice for those looking to follow in his footsteps. The CEO has four key pillars that he lives by when it comes to business. These include being customer-obsessed, making sure that you are passionate about what you are doing, take risks and be prepared to fail. The advice for entrepreneurs comes from the idea that if you are not taking enough risks, and therefore not failing, you are not providing yourself with opportunities to succeed.
Bill Gates is currently estimated to have a net work of approximately $120 billion. The co-founder of Microsoft has offered valuable advice to others looking to succeed in business in the past. The successful businessman has presented tips including that aspiring entrepreneurs should make sure to look out for emerging markets, how important it is to remain optimistic, and that individuals should always be open-minded when it comes to new business ventures. When speaking to students in an online class at ‘Code Break’, the billionaire talked about business and navigating through the COVID-19 pandemic. Gates talked about how to stay focused whilst working from home, and urged students to make sure that they still get outside for some fresh air. So even if you work in IT managed services, you need to step away from the computer screen every once in a while.
Elon Musk has an interesting approach when it comes to failure. The CEO of Tesla and SpaceX believes that if you are not failing, you are not innovating enough. Musk is estimated to have a net worth around $147 billion, and has run several multi-billion-dollar companies, so is well qualified to give advice. The CEO has told aspirational businessmen and businesswomen that they should seek out criticism wherever possible. Criticism is essential to building a fantastic idea, and entrepreneurs must not assume that certain business ideas are infallible. This applies to all types of businesses, whether it is a portable air compressor service, fast-food chain, or an online fashion brand.
The CEO of Facebook, Mark Zuckerberg makes sure to work out at least three times per week. Exercise has been proven to reduce the risk of early death by up to 30 per cent, helps to promote good mental health and can reduce the risk of deadly illnesses, such as diabetes and cancer, by up to 50 per cent. Frequent exercise appears to be important to many wealthy individuals. A study conducted by Thomas C. Corley concluded that 76 per cent of the rich exercise at least 30 minutes per day. Cardio exercise is great for the brain and can help to increase your intelligence. So, if you want to become a billionaire, don’t forget to set aside some time for the gym! Join pilates reformer classes, go for daily jogs, or start attending a spin class.
In March 2019, Kylie Jenner was named as the youngest self-made billionaire of all time. Whilst there was much criticism surrounding whether Jenner could be described as ‘self-made’, the founder of Kylie Cosmetics none the less has achieved incredible success. Other than Kylie Jenner, there are only ten billionaires in the world that are under the age of thirty. Of these, seven have inherited their wealth. The reality star, Instagram influencer, and cosmetics CEO can therefore offer some advice to others looking to be successful in any of these areas. Jenner has spoken of the importance of handling yourself well, no matter what the situation might be. The billionaire has also told of the importance of being passionate about the work that you do.
Melanie Perkins is another successful female billionaire. Perkins is the CEO and co-founder of Canva and is estimated to have a net worth of around $3 billion. Now 32, the CEO is one of the youngest female billionaires in the world. Perkins has outlined ten top pieces of advice for those looking to achieve their dreams. Some of these include having a big dream, having a great team is imperative, setting goals is important, it is essential to develop skills, and individuals should not develop and ego with success. Team development is essential; it isn’t all about the CEO. Perkins is an inspiration to young women all across the globe. With women rising to power within all industries, there is a lot that can be learned from them. There are many places that you can engage with other inspirational women. Whether it is at a women’s fitness class, at a women in business networking event, or at a particular hobby group meet up; encouraging women are all around.
There are several ways that we can improve our daily habits. Whether it involves being smarter with your money, making time for daily exercise, reading more books, or watching more inspirational videos; we can always work on self-improvement. The most important piece of advice that all of these billionaires have offered is that it is important to chase your passions. No matter if that involves starting your own clothing line, starting up a makeup brand, or even selling water chillers, you need to love what you do. By chasing money specifically, you will never be successful. All of your business endeavours must be genuine and authentic, otherwise it will come across poorly. Entrepreneurs must make sure that they love what they are doing, leading to their activities not actually feeling like work. At the end of the day, becoming a billionaire is equal parts skill and luck. Whilst there is no doubting that these people are extremely hard workers, it also takes the right time and place for a company to become successful.