Wednesday, September 28, 2011

How Did So Many Get So Rich?

Carlos Slim Helu
Worlds Richest Man 2011 - Forbes Magazine

How did so many get so rich?

The ranks of the super rich are exploding. There are 500 U.S. billionaires today, up from 13 a few decades ago. But what did these folks do to accumulate so much wealth?

Some started out poor, others didn't finish college, and many failed before succeeding.

Yet, they overcame their hurdles and rose to the top. More important, are they so different from the rest of us?

U.S. News uncovers the top 7 Secrets of the Super Rich....

1. Perseverance beats education.
“Smartness is an ability to absorb new facts. To ask an insightful question. A capacity to remember. To relate to domains that may not seem connected at first.” – Bill Gates
“I think I overcame every single one of my personal shortcomings by the sheer passion I brought to my work. I don’t know if you are born with this kind of passion or if you can learn it. But I do know you need it.” – Sam Walton
2. Make your own luck.
“I don’t consider myself to be lucky. I think luck is preparation meeting a moment of opportunity.” – Oprah Winfrey
Luck can also be defined as having vision or being flexible or forward thinking. – Anna Isgro
“I don’t remember any mistakes, only the opportunity to overcome problems.” – James Sorenson
“Vision is what determines who will be a leader. Great leaders can see how a situation will play out and take action in response.” – Robert Kiyosaki
3. Gamble, but wisely.
“People who win are careful with their thoughts, not saying ‘I can’t do that.’ Or ‘It’s too risky.’ Or ‘I can’t afford it.’ Instead they say, ‘How can I do that?’ Or ‘How can I reduce my risk?’ Or ‘How can I afford it?’” – Robert Kiyosaki
4. Know your market…intimately.
“Experts have more highly differentiated cognitive abilities. They can see opportunities others can’t and figure out how to turn them into a business.” – Kelly Shaver
5. Focus obsessively
“The rich don’t base their actions on what’s easy and convenient.” – T. Harv Eker
“If you don’t know every aspect of what you are doing, down to the paper clips, you’re setting yourself up for some unwelcome surprises.” – Donald Trump
6. Timing is everything.
“I had zero expectations that the market was efficient or had a clue about what it was doing. So when I had the opportunity to protect myself, I did. – Mark Cuban
7. It’s not just (or even mostly) about the money.
“No one is saying that they don’t like wealth; but what matters more is the innovation, the intense commitment they have to an idea and the difference it can make. Money is the byproduct.” – Raphael Amit, Wharton

Top 50 Billionares in the World - Forbes Magazine 2011
Net Worth
Country of Citizenship

Carlos Slim Helu & family $74 B 71 telecom Mexico
Bill Gates $56 B 55 Microsoft United States
Warren Buffett $50 B 81 Berkshire Hathaway United States
Bernard Arnault $41 B 62 LVMH France
Larry Ellison $39.5 B 67 Oracle United States
Lakshmi Mittal $31.1 B 61 Steel India
Amancio Ortega $31 B 75 Zara Spain
Eike Batista $30 B 54 mining, oil Brazil
Mukesh Ambani $27 B 54 petrochemicals, oil & gas India
Christy Walton & family $26.5 B 56 Walmart United States
Li Ka-shing $26 B 83 Diversified Hong Kong
Karl Albrecht $25.5 B 91 Aldi Germany
Stefan Persson $24.5 B 63 H&M Sweden
Vladimir Lisin $24 B 55 Steel Russia
Liliane Bettencourt $23.5 B 88 L'Oreal France
Sheldon Adelson $23.3 B 78 casinos United States
David Thomson & family $23 B 54 media Canada
Charles Koch $22 B 75 Diversified United States
David Koch $22 B 71 Diversified United States
Jim Walton $21.3 B 63 Walmart United States
Alice Walton $21.2 B 61 Walmart United States
S. Robson Walton $21 B 67 Walmart United States
Thomas & Raymond Kwok & family $20 B N/A real estate Hong Kong
Larry Page $19.8 B 38 Google United States
Sergey Brin $19.8 B 38 Google United States
Prince Alwaleed Bin Talal Alsaud $19.6 B 56 Investments Saudi Arabia
Iris Fontbona & family $19.2 B N/A Mining Chile
Lee Shau Kee $19 B 83 real estate Hong Kong
Alexei Mordashov $18.5 B 45 Steel Russia
Michael Bloomberg $18.1 B 69 Bloomberg United States
Jeff Bezos $18.1 B 47 Amazon United States
Michele Ferrero & family $18 B 84 chocolates Italy
Mikhail Prokhorov $18 B 46 Investments Russia
Vladimir Potanin $17.8 B 50 nonferrous metals Russia
Alisher Usmanov $17.7 B 58 steel, telecom, stocks Russia
Azim Premji $16.8 B 66 Software India
Oleg Deripaska $16.8 B 43 aluminum Russia
Michael Otto & family $16.6 B 68 Retail Germany
Rinat Akhmetov $16 B 44 steel, coal mines Ukraine
German Larrea Mota Velasco & family $16 B 57 Mining Mexico
John Paulson $16 B 55 hedge funds United States
Shashi & Ravi Ruia $15.8 B 67 Diversified India
Mikhail Fridman $15.1 B 47 oil, banking, telecom Russia
Michael Dell $14.6 B 46 Dell United States
Susanne Klatten $14.6 B 49 BMW, pharmaceuticals Germany
Steve Ballmer $14.5 B 55 Microsoft United States
George Soros $14.5 B 81 hedge funds United States
Berthold & Theo Jr. Albrecht & family $14.4 B N/A Aldi, Trader Joes Germany
Birgit Rausing & family $14 B 87 packaging Sweden
Vagit Alekperov $13.9 B 61 Lukoil Russia
Aliko Dangote $13.8 B 54 sugar, flour, cement Nigeria

Warm Regards,

Jared Dreyer, Your Mortgage Professional
604 649-5991

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Right off topic but very inspirational is an audition I watched for the new TV series the X-Factor. Take a minute to watch it now, you will be glad you did! The comments at the end from the judges are pretty amazing too.

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