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Financial

Club billionaire – What does it take?

The number of billionaires continues to grow. As of March 2017, there were 2,043 billionaires in the world – a 13% increase on last year according to the annual Forbes list.

 

Our cross-the-board findings on what this group of people have got going on (or skip to the last paragraph for the billionaire profile summary) include: From The Self-Made Billionaire Effect, By John Sviokla and Mitch Cohen (Highly recommended. Demonstrates transferring the billionaire mindset to corporate business. This book promoted further investigation in this area), found Billionaires:

  • Operate in a world of dualities – seamlessly hold on to multiple ideas, multiple perspectives and multiple scales.
  • Have a habit of curiosity
  • Are open to experience
  • Combine the power of empathetic insight and imagination
  • Have a bias towards action.
  • Give themselves time to let their imagination run free
  • Maintain complete presence. (e.g. Not becoming distracted by their phone)
  • Believe ideas worth pursing are also worth waiting for.
  • Thrive on when they have to match thinking with doing.
  • Think that design is execution.
  • Are serial entrepreneurs, achieving success on their second, third forth attempt
  • Willing to operate simultaneously at multiple speeds and time frames.
  • Do not isolate the big ideas (the thinkers) from the work of the business
  • They have a ‘relative view’ of risk. They pursue opportunities that others don’t see.
  • They partner with people who have conflicting but complementary skills.

Success.Com – What does it take to become a billionaire

  • Use exponential thinking to make “scarce resources” abundant and accelerate results.

MoneyCrashers.com – How to Become a Billionaire – 7 Characteristics of the Rich & Wealth

Characteristics we thought were interesting:

  • Achieving Billionaire Status Takes Time.
  • Education Is Important, But Not Required
  • Family Money Helps But Is Not Critical.
  • Marriage for Billionaires Is a Mixed Bag
  • Careers in Tech, Finance, or Real Estate Can Pay Off Big.

CNBC.Com – 8 Common Traits of the Worlds 2473 Billionaires

  • They’re mostly male.
  • They’re increasingly entrepreneurial
  • They’re predominately self-made
  • The tend to have a bachelor’s degree
  • They’re often in their 60s.
  • They’re highly charitable
  • They also enjoy travel and art

Entrepreneur.Com – 6 Unlikely Characteristics Common Among Billionaires

  • Married with 3 kids
  • Have attended certain universities, studying a few select subjects
  • Certain star signs are linked to more successful people. 12.5% are Aquarius.
  • You have a bald spot and wear glasses.
  • You’re a bloke
  • You live in the US.

Telegraphy.Co.Uk – Wealth Secrets of the One Percent: How the super-rich became super rich

  • Pick a field where you can establish a monopoly
  • Expand as quickly as possible
  • Dominate emerging markets
  • Take risks with other people’s money
  • Own your own business and property rights
  • Spin complex laws into gold (easy to bend the rules as nobody knows them).
  • Establish business networks (e.g. telecommunications and shipping networks).

Definitely some common themes. So where to from here… well some are physically impossible, however creating the mindset might not be. Could it be as easy as thinking that we are:

60-year-old bloke, married with 3 kids, has a bachelor degree. Enjoys travelling and art. Gives to charity. Live in the US. Born on the 1st of February. Bald and wears glasses. Holds multiple scalable ideas, but is patient. Thinks and takes action. Curious and Open. Stays in the moment.

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